Besides, expressways, national security, science and technology, innovation, nuclear energy, digital infrastructure, semiconductor technology, and green transformation will also be focuses, according to a government resolution approved by lawmakers Friday.
Vietnam is fast-tracking several major infrastructure projects such as the North-South Expressway’s eastern component, urban railroad in Hanoi and HCMC and the Long Thanh International Airport in the south.
Authorities are striving to commence construction of the Lao Cai – Hanoi – Hai Phong railway line, which will streamline rail connection with China.
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An illustrative image of a bullet train. Photo by Pexels/kazokuda |
The National Assembly in November approved the North-South high-speed railroad.
The 1,500-kilometer line will pass through 20 provinces and cities, connecting Hanoi with HCMC.
The line will be newly built and designed for speeds of 350 kilometers per hour, and will include 23 passenger stations and 5 cargo stations.
It will be undertaken with public funding at an estimated VND1.7 trillion (US$67 billion).
National Assembly deputies have sought a feasibility study by this year with the aim of completing the project by 2035.
The government seeks to pump more money into infrastructure as the country targets 8% growth this year increasing to double digits in 2026.
But the lack of mechanisms to manage infrastructure investment is among the challenges.
The disbursement of official development assistance funds remains low at just 52.7% of the target.
National Assembly chairman Tran Thanh Man said the criteria for allocating public funds must overcome the problems of spreading them too thin and imbalances between various sectors.
He highlighted the need for criteria based on urgency, efficiency, transparency, and fairness.
“Projects that are urgent will be allocated funds, while those that are not urgent will be put on hold. We need to allocate funds decisively for unfinished works.”
