Vietnam mentioned on Saturday that it’s going to construct a US$67 billion high-speed railway from Hanoi to Ho Chi Minh City, in a much-needed enhance to infrastructure that’s anticipated to drive development and improve its status amongst overseas traders.
The railway, which is able to stretch greater than 1,500 kilometres (930 miles) from the capital within the north to the nation’s enterprise hub within the south, will cut back the present journey time by rail from 30 hours to round 5.
“The nationwide meeting voted to approve … a decision on funding insurance policies for the high-speed railway venture on the north-south axis,” mentioned an announcement on the National Assembly’s web site.
Vietnam’s transport infrastructure is taken into account comparatively weak, with a highway community struggling to maintain up with demand and an underdeveloped rail system.
The expressway density is among the lowest within the area, though Vietnam is pushing to develop it, whereas highway transport prices are among the many highest.
The nation is an more and more favoured vacation spot for overseas companies in search of an alternative choice to China, however low-quality infrastructure is seen as holding again surging funding.
