The 1,541-km project, running between Hanoi and Ho Chi Minh City, is estimated to cost VND1,700 trillion (US$67 billion) with construction scheduled between 2027 and 2035.
It spans three medium-term budget cycles, requiring approximately VND538 billion ($21.22 million) for preparatory work (2021–2025), VND841.7 trillion for 2026–2030, and VND871.3 trillion for 2031–2035.
Presenting a report summarizing opinions for the draft resolution as well as adjustments to it, Chairman of the NA's Economic Committee Le Hong Thanh emphasized the importance of the project for implementing Party policies, modernizing transport infrastructure, and driving socio-economic development.
After 18 years of preparation and referencing global high-speed rail models, the project is considered feasible for Vietnam's current context.
According to the NA Standing Committee, recognizing significant direct and indirect economic benefits, revenues in the first four years of operation will only cover operational and maintenance costs, necessitating state support for infrastructure maintenance.
Budget allocation will align with project progress, exempting the project from financial feasibility assessments mandated by the 2019 Public Investment Law.