Each North-South high-speed train station is 'attached' to an urban area.

Deputy Minister of Planning and Investment Tran Quoc Phuong said that in the history of public investment in our country, the North-South high-speed railway is the largest project ever, with a total estimated cost of approximately 70 billion USD. In the development orientation of the North-South high-speed railway, each train station will have attached urban areas.

On the afternoon of October 29, at the seminar "High-speed railway - Opportunities and challenges" organized by the Government Electronic Information Portal, Deputy Minister Tran Quoc Phuong affirmed that the build North-South high-speed railway is necessary for Vietnam to have a breakthrough in infrastructure, creating positive and widespread impacts on economic growth and ensuring social security.

According to Mr. Phuong, in the history of public investment in our country, this is the largest project ever, with a total estimated expenditure of approximately 70 billion USD. If this amount is implemented from now until 2035, the impact of high-speed rail investment will increase GDP by about 0.97 percentage points, contributing to the overall growth of the economy.

Deputy Minister Ministry of Planning and Investment said the project is currently in the pre-feasibility assessment stage. This project has a direct impact on many areas.

Accordingly, the project will impact the construction industry in the GDP structure, because this is a construction project. The supporting industries serving this project such as the material supply industry for construction, including common materials such as sand, stone, gravel or special materials such as iron, steel for making railways or other works.

Deputy Minister of Planning and Investment Tran Quoc Phuong said that in the development orientation of the North-South high-speed railway, each train station will have an attached urban area.

The service industries that provide this project are finance, bank or capital mobilization services are also affected.

In particular, the Deputy Minister of Planning and Investment emphasized the spillover effects on urban development. "The route opens more than 20 stations from North to South, in the development orientation of this railway line, each station has attached urban areas. This is also a driving force for development. In the future, we determine urban development as a driving force, this is a good driving force for socio-economic development" - Mr. Phuong said.

The mining industries will also be affected when the project comes into operation, especially tourism services. The North-South railway project is extremely large in scale, so mobilizing forces to participate in the construction of this project will create relatively large jobs.

In addition, the project will impact growth of the transport industry, towards modernizing the transport system, increasing sales, productivity, and capacity serving transport with a new railway.

"The project will impact socio-economic growth after being put into operation; contribute to increasing the competitiveness of the economy, especially reducing logistics costs, significantly contributing to the development of industries and production and business sectors using this railway line" - Mr. Phuong said.

The North-South high-speed railway project passes through 20 provinces and cities including: Hanoi, Ha Nam, Nam Dinh, Ninh Binh, Thanh Hoa, Nghe An, Ha Tinh, Quang Binh, Quang Tri, Thua Thien Hue, Da Nang, Quang Nam, Quang Ngai, Binh Dinh, Phu Yen, Khanh Hoa, Ninh Thuan, Binh Thuan, Dong Nai, Ho Chi Minh City.

The project aims to build a new double-track railway line, 1,435 mm gauge, design speed of 350 km/h, load capacity of 22.5 tons/axle; build 23 passenger stations, 5 freight stations; high-speed railway for passenger transport, meeting dual-use requirements for national defense and security, and can transport goods when necessary.

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