The key to economic development breakthrough

Before a project of such a large scale and huge investment capital, careful consideration and decision, weighing up and down are essential. However, in the current context, it can be seen that this is the ripe time to implement.

The consultant prepared a preliminary feasibility study report to determine the total investment for the high-speed railway project at about 67.34 billion USD.

Time pressure does not allow us to hesitate to research further.

In recent times, the Ministry of Transport has been very active with ministries, departments and sectors in researching experiences, referring to models from 22 countries and territories, organizing learning experiences in 6 countries that own and master high-speed railway technology to finalize the scenario for building a railway line with a design speed of 350km/h, operating passenger trains but can reserve for freight transport when needed, and reporting to competent authorities.

I think that building a high-speed railway with a long-term vision is completely reasonable. The current situation of the country also shows that this option is feasible, from national financial capacity, investment mechanism to consulting and learning from experiences around the world.

Recently, I and many National Assembly deputies met with voters and informed them about the North-South high-speed railway project that is expected to be presented to the National Assembly at the upcoming 8th session with a maximum speed of 350km/h.

People are very excited and agree because there will soon be another means of transportation to shorten the distance between provinces and cities in a very short time.

I myself agree with this project. When the project is presented to the National Assembly, I will speak in support and I believe that with high determination, we can completely implement it.

Regarding capital, the budget burden can be greatly reduced as we now have many investors with strong potential, unlike before when we only relied on the budget.

Furthermore, this project is an opportunity to use public investment to attract private investment. With the estimated capital needed for the entire project being very large, about 67 billion USD, the State budget cannot cover it all.

In addition to public investment, it is necessary to call for investment in the form of PPP. Lessons from around the world show that most countries in the world, in addition to aviation investment, call for private participation in other transport infrastructure.

Investing in the form of PPP not only attracts more capital but also makes traffic participants more responsible when using public infrastructure. Each traffic participant needs to share with the State.

The deployment of the North-South high-speed railway is an inevitable requirement in the process of industrialization and modernization of the country. Once put into operation, it will certainly create momentum for the development of industries, sectors, and economic regions, creating a premise to promote breakthrough socio-economic development of the whole country.

Source: https://www.baogiaothong.vn/chia-khoa-dot-pha-phat-trien-kinh-te-192240930234248821.htm