Over $8 billion! Vietnam-China railway project approved!

At present, most of the cross-border transportation between Vietnam and China relies on trucking, but it is inefficient due to the slow speed and easy to cause delays at the border. Experts said that the establishment of an efficient railway will greatly improve the logistics and transportation between Vietnam and China, and help the stable development of Vietnam's manufacturing industry. Dan Martin, an expert at Dezan Shira & Associates, said: "China supplies a large amount of raw materials to Vietnam's manufacturing industry, and it is crucial to maintain the stability of the transportation system. ”

Construction of the railway line is expected to begin in 2025 and is scheduled to be completed in 2030. In the future, the speed of trains on this line will be increased from the current 50 kilometers per hour to 160 kilometers per hour, making it a dual-purpose railway that can be used for both freight and passenger transport. Vietnam's Minister of Transport said that the project will effectively enhance Vietnam's transportation capacity and promote regional economic integration.

In addition, the new railway project is seen as strengthening the partnership between China and Vietnam under the Belt and Road Initiative and the Two Corridors and One Belt.

At present, the Vietnamese side has not yet determined the contractor of the railway. Vietnamese Prime Minister Pham Minh Chinh expressed the hope that China Railway Construction Group would participate in the construction of the project during a visit to Yunnan at the end of last year.

In addition to the railway project, Vietnam's National Assembly on Wednesday approved a plan to raise the economic growth target for this year from 6.5%-7.0% to 8%, as well as the construction of the country's first nuclear power plant, which is expected to be completed by the end of 2031. In addition, Vietnam's parliament approved Musk's SpaceX to provide Starlink satellite internet services locally and allowed it to maintain full ownership of the local subsidiary.

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