National Assembly Debates $8.3 Billion Lao Cai – Hai Phong Railway Investment LP

National Assembly Debates $8.3 Billion Lao Cai – Hai Phong Railway Investment. This was reported by the railway transport news portal Railway Supply.

The Vietnamese National Assembly discussed an $8.3 billion investment in the Lao Cai – Hai Phong railway. The project will enhance connectivity, lower logistics costs, and boost trade opportunities nationwide.

Cost and Economic Benefits of Lao Cai – Hai Phong Railway

Minister of Transport Tran Hong Minh confirmed that constructing the railway would cost $15.97 million per kilometer. He emphasized that this price remains competitive compared to regional and local market standards.

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On February 15, legislators evaluated the investment proposal and a resolution aimed at modernizing urban rail networks. Special financial mechanisms for Hanoi and Ho Chi Minh City were also reviewed.

Delegate Hoang Van Cuong urged prioritizing local enterprises for infrastructure development and train manufacturing. He noted that domestic companies now have the expertise to handle large-scale railway projects.

To support Vietnamese manufacturers, he proposed adding a clause to secure government-backed market access. Ensuring long-term contracts would encourage local firms to invest in railway technology.

Lao Cai – Hai Phong Railway: A Strategic Development Project

Delegate Sung A Leng highlighted the importance of approving this railway project without delays. He stressed its role in linking economic regions, stimulating trade, and promoting tourism growth.

He urged the National Assembly to pass the resolution, allowing construction to begin before December 10, 2025. Expediting the process is critical to achieving Vietnam’s transportation infrastructure goals.

Minister Minh explained that the railway follows the most efficient and direct route possible. He confirmed that, excluding land clearance, the budget aligns with competitive construction pricing.

Urban railway projects in Hanoi and Ho Chi Minh City face approval delays, often taking three to five years. Without special policies, completing these networks before 2035 would remain unrealistic.

Government officials emphasized the urgency of modernizing Vietnam’s rail infrastructure. Creating favorable investment conditions will be key to meeting national development deadlines.

Source: vietnamnet.vn

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