During a meeting of the Steering Committee for National Railway Projects on 31/1, Prime Minister Pham Minh Chinh directed the rapid implementation of the North-South high-speed railway. He called for the completion of the feasibility study by Q4/2026 and stressed the importance of concurrently executing other related tasks.

The Prime Minister stated, "Expeditiously propose technology selection and investment models with multiple options, encouraging private investment, ensuring scientific rigor, transparency, national interest, and preventing corruption and negativity". He also noted the importance of studying diverse capital sources, including state capital, loans, expenditure savings, increased revenue, and bond issuance.

Regarding the Lao Cai - Hanoi - Hai Phong railway line, the Prime Minister urged accelerated progress. He specifically requested a 5% saving in recurrent expenditure to allocate funds for this project. The Ministry of Construction is tasked with promptly completing the feasibility study for component 2 of the project.

For the Hanoi - Lang Son and Hai Phong - Mong Cai railway lines, the Prime Minister emphasized the urgent need to finalize planning with a "century-long vision". Quang Ninh province has been assigned as the investor for the Hai Phong - Ha Long - Mong Cai project. Additionally, Ho Chi Minh City and Hanoi are directed to research and implement subway projects.

Prime Minister Pham Minh Chinh. Photo: Nhat Bac

The Prime Minister assigned the Ministry of Finance to complete the restructuring plan for Vietnam Railways Corporation by February. The ministry is also to promptly review and submit a proposal to the Prime Minister for Vietnam Railways Corporation to serve as the lead agency for developing a railway industrial complex.

To address human resource needs, the Ministry of Construction, in coordination with the Ministry of Education and Training and various state-owned corporations and enterprises, will identify specific training requirements and propose corresponding funding.

The government leader underscored that developing national and urban railway infrastructure, along with connecting to Trung Quoc, will contribute to achieving a growth target of 10% or more starting this year. He reiterated the "four no's" principle for task implementation: no day wasted, no week delayed, no opportunity missed in a month, and no passivity within a year.

According to research data, the North-South high-speed railway project has a preliminary capital of approximately 1.7 million billion dong, equivalent to 67 billion USD. The 1,541 km line will start at Ngoc Hoi station in Hanoi and end at Thu Thiem station in Ho Chi Minh City, traversing 20 provinces and cities. The National Assembly has approved private sector participation in the investment, with construction projected to begin in December 2026 and conclude in 2035.

In May 2025, VinSpeed, part of Vingroup, had 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 December 2025, the enterprise withdrew its proposal to focus on other infrastructure projects. Besides Vingroup, other domestic enterprises such as Thaco and Vietnam Railway Transport have also expressed interest in the project.

Vu Tuan