During the first extraordinary session of the 16th National Assembly on August 6, Minister of Construction Tran Hong Minh presented the Government’s proposal to adjust the investment plan for the Lao Cai–Hanoi–Hai Phong railway project.
The proposal emphasized the need for changes in line with new strategic policies and updated transport demand forecasts.
Following the Assembly’s initial approval, the Party and State introduced major strategies, including double-digit growth targets and a Vietnam–China joint declaration in April 2026 promoting international rail transport. National master plans, rail network plans, and sectoral adjustments have also been updated, with several large projects along the route impacting the railway’s scope.
Forecasts for transport demand have shifted, leading to additions such as an 8.4-kilometer segment between Yen Vien and Gia Lam, relocation of the northern passenger hub, and two new branches connecting the existing rail system to stations on the Lao Cai–Hanoi–Hai Phong line.
Based on these changes, the project’s preliminary investment total is now estimated at VND289.339 trillion (about US$11.4 billion), an increase of VND86.108 trillion compared to the figure previously approved by the National Assembly.
Phan Van Mai, Chairman of the National Assembly's Committee for Economic and Financial Affairs, noted that the revised investment estimate represents a significant increase. The Committee recommended further review of investment benchmarks, cost structures, and comparisons with similar railway projects to clarify the basis for the new figure.
The Committee also urged improvements in transport demand forecasting, updates to socio-economic and financial efficiency indicators, and clear assessments of capital recovery and loan repayment plans.
