The resolution stated that the project has a total route length of about 1,541 km; starting point at Ngoc Hoi station (Hanoi), ending point at Thu Thiem station (HCMC), passing through 20 provinces and centrally-run cities.
The total investment of the project is more than 1.7 million billion VND, from the State budget allocated in the medium-term public investment plan and other legal capital sources.
Implementation progress, feasibility study report from 2025, striving to basically complete the project by 2035.
The project applies many specific and special mechanisms and policies.
Typically, during project implementation, the Prime Minister is allowed to decide: Issue government bonds to supplement the annual budget and investment plan for the project in case the annual state budget does not meet the schedule.
Mobilizing official development assistance (ODA) capital and foreign concessional loans to implement projects without having to prepare project proposals using ODA capital and foreign concessional loans.
Use increased revenue, annual central budget savings (if any) and other legal capital sources for the project in case the annual state budget estimate does not meet the progress.
The use of increased revenue and expenditure savings does not have to be implemented in the order of priority prescribed by the law on the state budget.
The Prime Minister decides to adjust the medium-term and annual public investment plans of central budget capital among ministries, central agencies and localities to allocate capital for the project.
The project does not have to conduct an appraisal of capital balance capacity according to the provisions of the Law on Public Investment.
The Government shall prescribe criteria for selecting organizations and state-owned enterprises assigned with tasks or other Vietnamese enterprises to place orders for the provision of railway industrial goods and services; research, application, and technology transfer.
The Prime Minister decides on the list of railway industrial services and goods assigned to state-owned organizations and enterprises or ordered by Vietnamese organizations and enterprises.
After the National Assembly decides on the investment policy, the project is added to the list in the medium-term public investment plan and capital is allocated from the annual public investment plan to carry out pre-implementation activities.
Regarding the mechanism and policies to ensure the prevention and combat of corruption, waste and negativity. When selecting contractors for EPC packages and consulting packages using foreign contractors, the composition of the Appraisal Team shall comply with the provisions of the law on bidding and include representatives from the Ministry of National Defense, the Ministry of Public Security, the Ministry of Planning and Investment, the Ministry of Finance, the Government Inspectorate and the State Audit.
The investor is responsible for sending the completed total investment dossier according to the appraisal report of the investment decision-making authority to the State Audit to conduct an audit as a basis for approving the Project.
The State Audit Office is responsible for sending the audit results to the investment decision-making authority within a maximum period of 30 days from the date of receipt of the complete audit request dossier.
During the time the National Assembly is not in session, the National Assembly authorizes the National Assembly Standing Committee to consider and decide on supplementing and adjusting specific and special mechanisms and policies for the project.
