"High-speed rail trains using electric energy are one of the optimal solutions to convert transport modes in the context that Vietnam is prioritizing the development of a low-carbon economy, achieving net emissions of "0" by 2050 as committed at the COP26 Conference," the Ministry of Transport emphasized at a press conference on the investment policy for the high-speed rail project on the North-South axis in early October 2024.
The report of the Ministry of Transport also pointed out that according to research by the World Railway Association, high-speed rail is a sustainable and safe mode of transport.
High-speed rail is very environmentally friendly (the impact cost of high-speed rail is lower than other modes; CO2 emissions are 8.5 times lower than airplanes, 3.7 times lower than cars; the cost of reducing CO2 emissions will save about 67 million USD in 2040, about 172 million USD in 2050), saving resources.
To transport about 15,000 - 16,000 passengers/hour, the road route needs a land width of about 75m, but the high-speed railway route needs a land width of about 25m, only 1/3 compared to the road. At the same time, the high-speed railway route mostly uses bridge and tunnel structures (about 70% of the route length), contributing effectively to responding to climate change and limiting community separation.
In addition, the Asian Development Bank calculated that the damage caused by traffic accidents in Vietnam is about 2.9% of the country's GDP each year; according to calculations, the high-speed railway on the North-South axis will save costs of damage due to reduced traffic accidents of about 849 million USD in 2040, about 1,906 million USD in 2050.
Therefore, the implementation of high-speed railways contributes significantly to environmental protection and towards a green economy.
The Ministry of Transport assessed that the deployment of high-speed trains with high technology in the world. However, if technology is transferred and there are some appropriate policy mechanisms, Vietnam can master the entire construction industry, be self-sufficient in all operations and maintenance, and gradually localize the production of some components and spare parts.
The North-South high-speed railway project is expected to start from Ngoc Hoi station (Hanoi), pass through 20 provinces and cities and end at Thu Thiem station (HCMC), directly connecting two special-class urban areas with a population of up to about 10 million people, 17 class 1 urban areas with a population of 500,000 people or more, not to mention smaller urban areas.
Along the entire route, there will be 23 passenger stations with an average distance of 50 - 70 km, 5 freight stations connected to freight hubs, serving well national defense logistics when needed.
The total investment of the project is about more than 67 billion USD, expected to use state budget capital allocated in the medium-term public investment plan. The capital allocation period is about 12 years, each year an average of about 5.6 billion USD.
During the construction and operation process, businesses will be called upon to invest in service and commercial areas at the stations; and to invest in additional vehicles for exploitation when needed.
According to the planned schedule, the project will be submitted to the National Assembly for approval of investment policy in October 2024; construction will start at the end of 2027; and the entire route is expected to be completed by 2035.
