The 13th Central Executive Committee issued Resolution No. 55-NQ/TW dated September 20, 2024, in which it determined the unified investment policy for the entire high-speed railway project (350 km/h) on the North-South axis.
It can be seen that the 350 km/h high-speed railway, expected to be completed in 2035, will be a major breakthrough not only for transport infrastructure, opening up new development space, but also an important step forward, contributing to bringing Vietnam's economy on par with developed countries in the world.
At the seminar "High-speed railway - Opportunities and challenges" organized by the Government Electronic Information Portal this afternoon (October 29), delegates focused on discussing and clarifying issues on specific mechanisms, especially on resource mobilization... to implement the project.
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| Delegates attending the seminar 'High-speed railway - Opportunities and challenges'. (Source: VGP) |
Motivation to enter the era of growth
Regarding the timing of the proposal to build the North-South high-speed railway, Deputy Minister of Transport Nguyen Danh Huy said that the Ministry has spent 18 years researching the construction of the high-speed railway.
Forecasting transportation demand, the Ministry found that this is the right time and necessary to build the North-South high-speed railway to appropriately restructure the transportation market share.
Currently, the size of Vietnam's economy has reached 430 billion USD, public debt is not too high, therefore, basic resource conditions are not a big challenge.
Technically, the Ministry has given its opinion on the choice of a speed of 350 km/h, or why the function is to transport passengers and not goods...
"However, the Ministry of Transport has come up with an explanation through 10 years of research with the participation of many experts from countries around the world as well as interdisciplinary working groups studying in 6 countries with developed high-speed railways.
Now is the right time for the Central Executive Committee and the Politburo to decide to submit to the National Assembly for consideration and investment decision. This is also the premise and motivation for us to enter the era of self-development," Deputy Minister Nguyen Danh Huy affirmed.
Sharing the same view, Deputy Minister of Planning and Investment Tran Quoc Phuong affirmed: "We have sufficient political and practical basis from the resolutions and conclusions of the Central Committee and the Politburo on the construction of high-speed railway lines from now until 2035 as well as the completion of infrastructure, including the North-South high-speed railway line.
This is necessary to have a breakthrough in infrastructure, creating positive and widespread impacts on economic growth as well as ensuring social security."
According to Deputy Minister Tran Quoc Phuong, investment spending is also a driving force for economic growth. In the history of public investment in the country, this is the largest-ever project, with a total estimated expenditure of approximately 70 billion USD.
"According to preliminary assessments, if this amount of money is deployed from now until 2035, the impact of this high-speed railway investment will increase the Gross Domestic Product (GDP) by about 0.97 percentage points. This is a significant figure, contributing to the overall growth of the economy," Deputy Minister Tran Quoc Phuong emphasized.
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| The North-South high-speed railway route was drawn using artificial intelligence. (Source: VGP) |
Finance is ready
Regarding the issue of resources for project implementation, at the Seminar, Deputy Minister of Finance Bui Van Khang informed that financial preparations for the high-speed railway project are ready to ensure the highest level of financial resources according to the approved roadmap and project implementation progress in accordance with the policy of Resolution 49-NQ/TW of the Politburo and Resolution of the 10th Central Conference.
Over the past time, ministries and branches have coordinated very closely and agreed to propose 3 groups of overall management solutions and 4 groups of resource mobilization methods.
3 groups of comprehensive management solutions include: Innovating the growth model, managing the socio-economy flexibly and effectively to contribute to increasing the annual budget revenue with the spirit that the following year must be higher than the previous year; managing the fiscal policy flexibly and effectively towards thorough thrift and anti-waste to focus resources on development investment; amending institutions, removing bottlenecks and bottlenecks in attracting resources in the financial and investment sectors.
4 groups of resource mobilization methods include:
Firstly, develop a 5-year national financial plan for 3 periods until 2035 in the spirit of proactiveness and resource balance, focusing on prioritizing spending on development investment, especially national and key projects in the transport sector, including the high-speed railway project, with the spirit of combining both the central and local budgets, with the central budget playing the leading role.
Second, attract resources, mobilize government bonds with appropriate interest rates, market conditions and project implementation progress.
Third , attract domestic investment resources including public-private partnership.
Fourth , mobilizing foreign resources has high incentives, reasonable negotiation conditions and few constraints.
Deputy Minister Tran Quoc Phuong assessed that the above-mentioned special mechanisms and policies aim to ensure the quality, progress and safety of the project, and to implement the project as quickly and effectively as possible.
"In the future implementation process, it is necessary to add specific mechanisms and policies under the authority of the National Assembly and the Government, which can continue to be proposed, and submitted to the authority of each level. From there, it is necessary to give the highest priority to implementing this project," the Deputy Minister of Planning and Investment emphasized.
Source: https://baoquocte.vn/duong-sat-toc-do-cao-dua-nen-kinh-te-viet-nam-sanh-vai-voi-cac-nuoc-phat-trien-tren-the-gioi-291829.html
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