By Ha Linh
September 19, 2024 | 12:11 AM GMT+7
The Politburo on Wednesday supported a plan to invest in a high-speed railway along the country’s North-South axis, marking a crucial step for the multi-billion-dollar project aimed at boosting economic growth and infrastructure development.
The decision came after a presentation by the Ministry of Transport and discussions among top officials. The Politburo described the project as essential, according to Vietnam Government Portal.
The North-South high-speed railway is seen as a cornerstone of Vietnam’s efforts to modernize its transport infrastructure and strengthen its economic foundations as it seeks to meet growing transportation needs and reduce pressure on its congested road networks.
The project also seeks to restructure Vietnam's transport market, cutting logistics costs and enhancing competitiveness by offering a faster, more sustainable travel option.
The railway aims to meet rising transportation demands and optimize the North-South transport corridor. It is expected to bolster regional connectivity, foster economic growth, and contribute to national defense and security, in line with the Communist Party's development strategy outlined at the 13th Party Congress.
The high-speed line will play a pivotal role in developing the country’s railway industry, reducing traffic accidents, and mitigating environmental pollution.
The Central Committee of the Communist Party will review the proposal before it is presented to the National Assembly during its next session in October.
Prime Minister Pham Minh Chinh emphasized the project's political, legal and practical importance during a July meeting of the government.
Chinh called for an innovative and efficient approach, with a vision to complete the project by 2035. The railway is expected to run at speeds of up to 350 km per hour, offering a faster, modern transport alternative for both passengers and goods.
