Binh stated that following resolutions from the Central Committee and the Politburo, the National Assembly’s green light has sparked public optimism for a long-overdue project. He described the current reliance on century-old railway lines as outdated and no longer suitable for supporting modern economic growth.

He emphasized that private enterprises are well-equipped to carry out national-scale infrastructure thanks to their capacity for innovation, advanced technology adoption, and improved productivity.

"Many national infrastructure projects - highways, renewable energy plants, mountain tunnels, major bridges - have been successfully executed by private firms," he said, adding that the government welcomes and encourages similar participation in the high-speed rail initiative.

“This project must be fast-tracked to serve as a national economic catalyst,” Binh urged, citing the need to avoid delays, control costs, and prevent waste, corruption, or conflicts of interest.

Building a national rail industry

The Deputy PM acknowledged past lessons from Hanoi and Ho Chi Minh City’s metro projects, calling for a new approach to ensure that the estimated $70 billion investment yields meaningful outcomes.

"The project must serve both people and the economy. A national railway industry, skilled engineers, and a comprehensive development ecosystem around each station - tourism, culture, services - must accompany it," he said.

"If we only get a single rail line like those metro projects, it won’t be a success. But if we get an interconnected chain of urban hubs from North to South, it will transform the country."

Transparent investor selection process

The government now has a legal framework to select between public, PPP, or private investment models. A state council will assess and select investors transparently, based on clear criteria and public scrutiny.

"There will be no backroom deals. The whole nation must know who is chosen and why," Binh affirmed.

He also stressed that the rail project must meet international standards in design, supervision, and evaluation, with global experts brought in to fill domestic knowledge gaps.

With such an approach, Binh expressed confidence that the high-speed railway will not only meet transport needs but also foster a robust national rail industry and skilled workforce, serving both domestic and international needs.

Tran Thuong