- The North–South High-Speed Railway (NSHR) is Vietnam’s largest-ever investment project. On November 30, the National Assembly passed the NSHR project with a total investment capital of USD67.3bn – the largest-ever investment project in Vietnam. Construction of the project is planned to start in 2027 and expected to be completed by 2035.

The NSHR project was first presented to the National Assembly in 2010, however, the project was not approved due to concerns about financing resources (in 2010, total investment capital for the project was estimated at USD56bn, equivalent to 38.1% GDP, and public debt was 56% of GDP), technology, and exploitation plans. The project was again presented to the National Assembly in 2019 and was rejected for the second time.

At the 8th session of the 15th National Assembly tenure, the deputies agreed that this is the right time for the country to invest in a high-speed railway given Vietnam’s growing GDP (estimated at USD465bn in 2024) and declining public debt/GDP ratio (estimated at around 36%-37% GDP).  

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