HANOI, April 1 — Vietnam is seeking to learn from China to develop its first high-speed railway network, according to its government, with plans in the works for a rail line running the country’s length.
According to state media, it looks to build a 1,545km high-speed system with a price tag that could be as much as US$72 billion (RM339.8 billion), or 17 per cent of Vietnam’s gross domestic product.
“China’s railway industry is the world’s most developed, and Vietnam, therefore, wants to learn from its experiences, especially in terms of technology, financial mobilisation and management expertise,” a government statement said during the weekend.
It was released as Vietnam’s Planning and Investment Minister Nguyễn Chí Dũng visited China, where he talked with Chinese trade and transport officials and railway executives.
Vietnam and China signed dozens of cooperation agreements, including on railways, during a visit to Hanoi by Chinese President Xi Jinping in December last year
Last year, Vietnam’s government said it had asked Japan for support in building the high-speed railway.
Southeast Asia has so far been slow to adopt high-speed rail, despite plans in place for years by Vietnam, Thailand, and others.
Only Laos, Vietnam’s less developed neighbour, has a high-speed system, which was funded by Chinese loans, against the advice of economists who warned the country could be saddled with debt for years.
No timeframe has been announced for the high-speed system in Vietnam, and the plan will be submitted to Parliament for approval later this year, according to the government.
— Reuters
