Impressive performance of National Assembly with landmark resolutions

North-South High-Speed Railway

The National Assembly on November 30 approved a resolution on the investment policy for the North-South High-Speed Railway project, with 443 out of 454 delegates voting in favor.

The flagship project with a total investment of about US$67 billion has undergone four rounds of feasibility reports spanning over nearly 20 years. It has been designed for a maximum speed of 350 km/h, with a total length of about 1,541 kilometers of double tracks, a standard gauge of 1,435 mm, and electrified train technology.

The 1,541km long route will start from Ngoc Hoi station in Hanoi, pass through 20 provinces and cities, and end at Thu Thiem station in Ho Chi Minh City. It will directly connect the two metropolises, with a population of about 10 million people each, and 17 first-tier cities with populations of 500,000 or more, not to mention smaller cities.

Throughout the entire route, 23 passenger stations will be spaced an average of 50 to 70 km apart, with 5 freight stations located at major freight hubs, ensuring efficient logistics support, especially for national defense needs when required.

Voicing strong support for the project, deputies said the route will directly connect major urban areas, enhance passenger and freight transportation capabilities, and drive socio-economic development.

They also suggested attracting domestic private investment for the project to not only help businesses grow and expand but also facilitate the reception and transfer of foreign technologies, localizing them as much as possible to reduce reliance on foreign sources.

Ninh Thuan Nuclear Power Project

The legislature on November 30 approved a resolution, agreeing to continue implementing the investment policy for the Ninh Thuan nuclear power project that has been put on hold for years.

Restarting the project after an 8-year suspension is said to ensure energy security and reduce emissions in the context of the country’s growing electricity consumption.

The total capacity of the current power system is about 80 GW, and an additional 70 GW will be needed by 2030, and 400-500 GW by 2050. Meanwhile, the average production cost of nuclear power can be competitive with other traditional energy sources.

Therefore, developing nuclear power in Vietnam brings several benefits, such as diversifying the electricity supply, ensuring energy security, and meeting the dual task of providing base-load power while protecting the environment.

The legislature tasked the government with urgently directing the allocation of resources to implement the decision of the competent authorities and studying amendments to related laws, including the Atomic Energy Law.

Regarding nuclear power development policy, according to the amended Electricity Law, the nuclear power development plan must be aligned, coordinated, and compatible with the power development plan to ensure electricity supply security.

The amended Electricity Law also stipulates that the state holds a monopoly on investing in the construction and operation of nuclear power plants.

Gia Nghia - Chon Thanh Expressway

With a majority of votes in favour, the National Assembly approved the investment policy for the construction of the North-South Expressway in the Western section, from Gia Nghia city of Dak Nong province in the Central Highlands to Chon Thanh town of Binh Phuoc province in Southeast Vietnam, with a total investment of over VND25.5 trillion.

The project, which is expected to be completed by 2026 and operational in 2027, spans 128.8 km and is divided into five sub-projects. The first sub-project will be funded through a public-private partnership (PPP) model, under a Build-Operate-Transfer (BOT) contract, with investment guarantees and revenue-sharing mechanisms according to PPP investment regulations.

Supporters of the expressway project argued that it is a key route for connecting the expressway network, linking the crucial regions of the Southeast and Central Highlands with the Southwestern region and Ho Chi Minh City. The project will address traffic infrastructure bottlenecks, create new spaces, and act as a driver for socio-economic development, while ensuring national defense and security in the Southeastern and Southwestern regions.

The resolution allows for the application of special mechanisms and policies on investment, including an extension of the disbursement period for funds from increased revenue and savings in the 2022 state budget to complete the project by the end of 2026.

It also allows the head of the competent authority to consider and decide on direct contracting for consultation services, compensation, support, and resettlement during project implementation. The procedure for direct contracting will follow public bidding laws and government guidelines.

Long Thanh International Airport

In an approved resolution, the National Assembly agreed to adjust the investment policy for the Long Thanh International Airport project in Dong Nai province. According to the resolution, the first phase will involve the construction of two runways in the northern area, a passenger terminal, and related auxiliary infrastructure with a capacity of 25 million passengers per year and 1.2 million tonnes of cargo per year.

The project’s implementation timeline will be extended, with completion and operation to be done by December 31, 2026, at the latest. The government has been authorized to approve the revised feasibility study report for the first phase of the project within its authority, without needing to submit it to the National Assembly for approval.

When taking shape, Long Thanh International Airport will become the largest airport in Vietnam in the future that will cover an area of 5,364ha and serve up to 100 million passengers per year. The project is divided into three construction phases, with Phase 1 from 2021-2025, Phase 2 from 2025-2030, and Phase 3 from 2035-2040.

The project is expected to be completed by September 2026. However, during an inspection visit in early December 2024, Prime Minister Pham Minh Chinh requested that the project speed up and be completed before December 31, 2025, to celebrate major national events.