Authorized by the Prime Minister, Minister of Transport Nguyen Van Thang presented a report affirming that the North-South high-speed railway project is a project of special strategic significance for the socio-economic development and national security and defense of the country. Investment in the route creates the premise and driving force for the country's development in the new era, enhancing national competitiveness and meeting transportation needs.
The government believes that this project will open up new economic development space and new resources through effective exploitation of land funds; development of construction industry, construction materials industry; development of tourism, services and urban areas. The project is expected to help reduce environmental pollution; reduce traffic accidents and create millions of jobs. During the construction period, it is estimated that the project will contribute to increasing the country's average GDP by about 0.97%/year.
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| Minister of Transport Nguyen Van Thang. |
The Minister said that preliminary calculations show that in the first 4 years of operation, the State needs to support part of the infrastructure maintenance costs with economic career capital similar to the current national railway system; the number of years to pay back the capital is about 33.61 years.
The investment in the line will create a construction market worth about 33.5 billion USD. Including the national railway system, the urban railway will create a construction market of about 75.6 billion USD; vehicles and equipment of about 34.1 billion USD and millions of jobs. "If appropriate technology is transferred, Vietnam has the ability to develop the railway industry, master the construction industry, and localize the manufacturing of carriages and power supply systems," said Mr. Thang.
The 2019 pre-feasibility study report proposed a public-private partnership (PPP) for the project's facilities and equipment; public investment will be responsible for the infrastructure works. At that time, Vietnam's economic scale would only reach 266 billion USD, with public debt at 56.1% of GDP. In 2023, the economic scale would reach 430 billion USD, with public debt at a low level of about 37%. It is expected that by 2027, when the project starts, GDP will reach 564 billion USD, so investment resources for the high-speed railway on the North-South axis "will no longer be a major obstacle".
The government said the starting point of the route is in Hanoi (Ngoc Hoi station); the end point is in Ho Chi Minh City (Thu Thiem station). The total length of the main route is about 1,541 km. The 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 Government proposed choosing a design speed of 350 km/h for the high-speed railway on the North-South axis to meet the criteria of being modern, synchronous, having a long-term vision, being effective, and suitable to the country's geo-economic conditions.
Representative of the auditing agency, Chairman of the Economic Committee Vu Hong Thanh said that the North-South is the largest transport corridor in the country, playing a major role in the country's socio-economic development. However, the railway system has not received much investment, leading to a lag. Investment in the high-speed railway project plays an important role in realizing the policies and orientations of the Party and State, creating a breakthrough in the development and modernization of transport infrastructure, connecting with the railway system in the region and Asia, opening up new economic development space.
The scope and scale of basic investment are consistent with the Railway Network Planning for the 2021-2030 period, with a vision to 2050. However, the Economic Committee proposed clarifying the plan to connect the high-speed railway line with the national railway network, urban railways and other transport systems; and connecting with regional and international railway networks.
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| Chairman of the Economic Committee Vu Hong Thanh. |
The Committee proposed clarifying the route according to the principle of "straightest possible", especially the section passing through Nam Dinh province to ensure project efficiency and consider increasing the investment ratio of the bridge structure length to ensure safety in operation, limiting impacts on the environment and ecosystem.
According to the Pre-Feasibility Study Report, the project is economically feasible through a series of indicators. The Economic Committee believes that the project is placed in a very optimistic situation in terms of growth rate, but the world economic and political context has many unpredictable fluctuations, so it is necessary to set out other scenarios to have a basis for consideration and decision.
With the development of the 4.0 scientific and technological revolution, now and in the near future, organizations, businesses and individuals can conduct most of their commercial transactions on digital platforms, leading to a reduction in the need for travel. Therefore, the Committee recommends that the drafting agency review, calculate carefully, and analyze possible risks.
In addition, the Economic Committee proposed a more comprehensive assessment of the project's financial plan during the operation and exploitation phase, in the context of the overall need for public investment capital and supplementing international experience in organizing, operating and exploiting high-speed railway lines.
The National Assembly will discuss this content on November 20 and vote to approve it on November 30, the last day of the 8th session.
Source: https://www.truyenhinhnghean.vn/thoi-su-chinh-tri/202411/trinh-quoc-hoi-chu-truong-dau-tu-duong-sat-toc-do-cao-bac-nam-f2e1080/
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