The Government of Vietnam has launched an action plan to expand and improve the country’s railway railway transport to 2030 with a vision towards 2045. The action plan outlines tasks including refining institutions and policies, completing railway planning and mobilising funds for future rail projects.
From the period between 2024 to 2026, the Ministry of Transport (MoT) will update the Railway Law and related laws, while the Ministry of Planning and Investment (MoPI) will revise the Investment Law to attract private investment.
From 2023 to 2025, the Ministry of Finance (MoF) will allocate the state budget to railway-related technology. The Ministry of Science and Technology will create policies to promote railway technology.
Between 2025 and 2045, the MoPI will allocate state budgets to invest in railway infrastructure, particularly the North-South high-speed railway. Meanwhile, the MoF will focus on budgeting for railway maintenance.
One of the key projects under the action plan is the North-South high-speed railway. The goal is to approve the project’s investment and start construction in 2026-2030, including the Hanoi – Vinh and HCM City – Nha Trang sections. The project will span 20 provinces, with a length of 1,545 km and a max speed of 320 km/h. The total estimated cost is about USD58.71 billion.