### Vietnam Approves High-Speed Railway Project Linking Hanoi and Ho Chi Minh City

Vietnam's National Assembly has given the green light for a high-speed railway project that will connect the northern capital of Hanoi to the southern financial hub, Ho Chi Minh City. The estimated cost for this massive initiative stands at a staggering $67 billion.

The planned railway will cover a stretch of 1,541 kilometers (957 miles), significantly enhancing the transportation infrastructure between these two major cities. With trains expected to reach speeds of up to 350 kilometers per hour (217 miles per hour), the journey time will be dramatically reduced from the current 30 hours to just five hours.

Scheduled to commence in 2027, construction of the railway aims to have the first trains operational by 2035. However, Vietnam has faced delays in past infrastructure projects, which could impact the timeline. The railway line will traverse 20 provinces and cities, featuring 23 passenger stations and five freight stations, serving both passenger and cargo needs as well as defense purposes.

Deputy Minister of Transport Nguyen Danh Huy highlighted that this project addresses the growing transportation demands along the north-south corridor. Several studies have pointed to the necessity for faster travel options, making this railway pivotal for Vietnam's economic growth and structural transformation of its transport sector.

Vietnam plans to prioritize domestic funding for this project but remains open to foreign loans if they are cost-effective and come without restrictive conditions. State media emphasized that this railway project is not just an infrastructural development but a cornerstone for the nation's future growth.

This high-speed railway is poised to not only innovate Vietnam's transport sector but also to serve as a catalyst for broader economic advancement across the country.