Vietnam’s High-Speed Railway: A Game-Changer for Infrastructure and GDP Growth

A BREAKTHROUGH

Deputy Minister Tran Quoc Phuong called the new high-speed railway project a “breakthrough” for Vietnam‘s infrastructure. He stated it could raise the country’s GDP by an average of 0.97 percentage points each year.

Phuong emphasized the people’s desire and the government’s commitment to building an international-standard high-speed railway.

The National Assembly previously ended a similar project in 2010 due to its estimated US$56 billion cost. However, experts now see significant potential in high-speed rail, especially as neighboring Southeast Asian countries like Laos and Indonesia have successfully completed their own rail lines.

Martin pointed out that for Vietnam, this project could strengthen its position among countries adopting high-speed rail.

The new line will connect 23 stations across 20 cities and provinces, improving local travel options and regional connectivity.

University student Pham Dang Quang expressed excitement about future travel opportunities, looking forward to commuting from Hanoi to Ho Chi Minh City in just one day.

The project is set to start in 2027 and finish by 2035. However, Vietnam has faced delays in major projects in the past. For example, Hanoi’s second metro line took nearly a decade to open, and Ho Chi Minh City’s first metro route has yet to start operations since its planned launch in 2018.

According to the Global Quality Infrastructure Index 2023, Vietnam ranks 52nd out of 185 economies, falling behind several ASEAN nations.