On the afternoon of 30/1, Deputy Minister of Construction Nguyen Danh Huy announced that the ministry had selected and signed a contract with Ineco, a Spanish consulting firm, to conduct the feasibility study for the north-south high-speed railway project. Ineco is Spain's largest consulting firm, a country with the second-longest high-speed rail network globally.

According to the deputy minister, completing the feasibility study is essential to evaluate the project's effectiveness, technical aspects, and technology. This study will provide the Ministry of Construction with sufficient data to determine the total investment, economic efficiency, and an appropriate investment model. The investment model will be thoroughly assessed based on legal regulations and practical considerations once the report is finalized.

Regarding project funding through public investment or public-private partnerships, the deputy minister stated that the state aims to mobilize social resources but cannot transfer all risks to businesses. For public services where private sector participation is challenging, the state must maintain a leading role. The selection of an investment method will involve risk assessment and risk-sharing mechanisms. The National Assembly has tasked the Government with comprehensively studying various investment models, and these aspects are currently being analyzed and evaluated by foreign consultants.

Earlier in january, the Permanent Government instructed the Ministry of Construction to select a consultant to complete the feasibility study report and submit it to the prime minister before 15/1. The ministry was also assigned to develop criteria and procedures for selecting the optimal investment method, ensuring national and public interests while preventing corruption and negativity. If necessary, the ministry must propose specific mechanisms and policies corresponding to each investment model, based on a full impact assessment.

High-speed railway in germany. Photo: InterCityExpress.

Nearly 1,500 km of expressways completed in 2025

Providing further information on transport infrastructure, a representative from the Ministry of Construction stated that the ministry completed 53 projects in 2025. By the end of the year, over 3,800 km of expressways and 1,700 km of coastal roads were operational. Specifically, 1,491 km of expressways, 456 km of national highways, and 251 km of coastal roads were completed within that year. The north-south expressway, stretching from Cao Bang to Ca Mau, was fully opened to traffic.

Several railway, aviation, and maritime projects also achieved positive results, including: the groundbreaking of component one of the Lao Cai - Hanoi - Hai Phong railway line; the inauguration of terminal three at Tan Son Nhat International Airport; the expansion of international passenger terminal two at Noi Bai International Airport; the completion of several items under phase one of Long Thanh International Airport; and the commissioning of berths three, four, five, and six at Lach Huyen seaport.

In 2025, passenger transport volume was estimated to exceed 6 billion passengers, an increase of over 22%; cargo reached over 3 billion tons, up more than 14% compared to 2024. Traffic accidents decreased across all three criteria.

According to research data, the north-south high-speed railway project has an estimated total capital of about 1.7 million billion dong, equivalent to 67 billion USD. The 1,541 km line will begin at Ngoc Hoi station in Hanoi and end at Thu Thiem station in TP HCM, passing through 20 provinces and cities. The National Assembly has approved private sector participation in the investment, with construction expected to commence in 12/2026 and completion in 2035.

In 5/2025, VinSpeed, a subsidiary of Vingroup, proposed investing in the project by self-financing 20% of the capital and borrowing the remainder from the state at 0% interest over 35 years. However, in late 12/2025, the company withdrew its proposal to focus on other infrastructure projects. Besides Vingroup, several domestic enterprises, such as Thaco and Vietnam Railway Transport, have also expressed interest in this project.

Doan Loan