Vietnam announced on Saturday that it would construct a$ 67 billion high-speed railway from Hanoi to Ho Chi Minh City, a significant improvement over the country’s infrastructure that is anticipated to boost growth and strengthen its standing with foreign investors.
The railway, which will extend more than 1, 500 miles (930 miles ) from the money in the northwest to the government’s business hub in the north, will reduce the current journey day by road from 30 hours to around five.
” The national council voted to approve… a decision on purchase policies for the high-speed rail project on the North-South axis”, said a speech on Vietnam legislature’s site.
Deputy secretary of planning and funding Tran Quoc Phuong earlier called the new range” a miracle” in the country’s system that would improve the country’s GDP by an average of 0.97 percentage points annually.
” It is the desire of the people and the perseverance of the political system to have an international-standard high-speed railway”, he said prior to the approval.
The fresh rail line will stop at 23 facilities in 20 various cities and provinces, boosting connection between the areas.
Although the nation has a history of overruns when it comes to major infrastructure projects, the task is scheduled to last only eight times, beginning in 2027 and finishing in 2035.
