The government has sought approval from the National Assembly to allow private investment in the transnational North-South high-speed rail line.
Minister of Construction Tran Hong Minh said in a proposal to the house the Politburo resolution for promoting private-sector economic development saw several enterprises expressing interest in developing the project.
A bullet train in Japan. Photo by Pixabay/aun4496 |
Phan Van Mai, chairman of the National Assembly’s Economic and Financial Committee, reviewing the proposal, said the committee generally agrees with it.
Creating mechanisms and policies for the project is necessary and consistent with the Party’s policy on mobilizing private resources for strategic projects and unlocking private investment for key infrastructure, he said.
The high-speed rail will have an estimated price tag of VND1.7 quadrillion (US$67 billion) and run 1,541 kilometers between Hanoi and HCMC.
Several major corporations have expressed interest in the project, including VinSpeed, Thaco, the Mekolor – Great USA consortium, Thang Long National Construction Company, and Vietnam Railways Transport.
Hoa Phat Group has said it plans to build a new plant just to provide steel for it.
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