Politics

Investment policy for North-South high-speed railway project approved

The 15th National Assembly on November 30 passed a resolution on the investment policy for the North-South high-speed railway project with 443 out of 454 deputies voting in favour.

NA delegates vote to pass a resolution on investment policy for the North-South high-speed railway project (Photo: VNA)
NA delegates vote to pass a resolution on investment policy for the North-South high-speed railway project (Photo: VNA)

Hanoi (VNA) - The 15th National Assembly on November 30 passed a resolution on the investment policy for the North-South high-speed railway project with 443 out of 454 deputies voting in favour.

Presenting a report summarising opinions for the draft resolution as well as adjustments to it Chairman of the NA's Economic Committee Le Hong Thanh emphasised the importance of the project for implementing Party policies, modernising transport infrastructure, and driving socio-economic development.

After 18 years of preparation and referencing global high-speed rail models, the project is considered feasible for Vietnam's current context.

According to the NA Standing Committee, recognising significant direct and indirect economic benefits, revenues in the first four years of operation will only cover operational and maintenance costs, necessitating state support for infrastructure maintenance.

The project spans three medium-term budget cycles, requiring approximately 538 billion VND (21.22 million USD) for preparatory work (2021–2025), 841.7 trillion VND for 2026–2030, and 871.3 trillion VND for 2031–2035.

Budget allocation will align with project progress, exempting the project from financial feasibility assessments mandated by the 2019 Public Investment Law./.

VNA
#15th National Assembly #North-South high-speed railway project #investment policy #Budget allocation
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