According to the Resolution of the National Assembly, the Lao Cai - Ha Noi - Hai Phong railway project reaches about 419 km long with a total capital of 203,231 billion VND, equivalent to 8.37 billion USD. The project will start in 2025 and expected to be completed in 2030. The Prime Minister requested the Ministry of Science and Technology and the Ministry of Construction to urgently implement and announce the standards and regulations of high-speed railways and Lao Cai - Hanoi - Hai Phong railway in accordance with the process, procedures, authority and provisions of law and international regulations. It’s scheduled to be completed in October 2025.
The Ministry of Finance needs to preside with relevant agencies to review and calculate capital allocation plan, in which Vietnam's capital sources will be proactively used. It needs the most effective loan plan. The Ministry of Finance will also continue to work specifically with the Asian Infrastructure Investment Bank on the possibility of borrowing capital for the project; report to the Government Standing Committee in October. The Ministry of Construction and relevant agencies will develop a master plan on the critical path, site clearance and component projects. In particular, for component project 1 (investment in infrastructure connecting stations on the route and station square, using domestic capital), the Prime Minister requested to complete necessary tasks to start the project in 2025.