NA deputies scrutinise investment policy for North-South high-speed railway project

National Assembly deputy from Hải Dương Province Nguyễn Ngọc Sơn speaks at the 15th National Assembly’s eighth session on Wednesday. VNA/VNS Photo Phạm Kiên

HÀ NỘI — Legislators looked into the investment policy for the North-South high-speed railway project on Wednesday afternoon, part of the ongoing second phase of the 15th National Assembly’s eighth session.

According to the Government's proposal, the high-speed railway is set to meet transportation demands, and contribute to sustainably restructuring the transportation market share along the North-South corridor, creating a catalyst for socio-economic development and ensuring national defence and security.

The Government proposed constructing a new electrified double-track railway with a standard gauge of 1,435 mm, a design speed of 350 km/h, and a load capacity of 22.5 tonnes per axle. It will span 1,541km, crossing 20 provinces and cities.

Regarding the project timeline, the building and approval of the feasibility study report and front-end engineering design (FEED) are planned for 2025–2026; and land clearance, contractor selection, and project commencement in 2027, with the goal of completing the entire route by 2035.

The preliminary total investment for the project is estimated at VNĐ1.7 quadrillion (around US$67.34 billion). To ensure its progress and success, 19 special policies have been proposed.

In its verification report, the NA's Committee for Economic Affairs said, debt repayment and outstanding public debt have tended to increase in recent years, adding by 2025, the Government’s direct debt repayment obligations are projected to account for approximately 24 per cent of the state budget revenue, nearing the allowable ceiling of 25 per cent.

The agency, therefore, recommended that the government conduct a detailed assessment of the project's impact on the state budget deficit, public debt, and the medium- and long-term debt repayment capacity of the state budget. It also emphasised strict adherence to public debt safety thresholds to ensure national financial security and avoid placing repayment pressures on future periods.

Also in the afternoon session, NA deputies opined on adjustments to the investment policy for the Long Thành International Airport project, along with the draft law amending and supplementing a number of articles of the Law on the Supervisory Activities of the National Assembly and People's Councils.

In the morning, they discussed the draft Law on Teachers.