Vietnam's Parliament greenlighted on Saturday a $67 billion high-speed railway project in the country, a much-needed boost to infrastructure, local media reported.
The National Assembly approved the investment policy for the North-South high-speed railway project, which will be completed in 2035, according to VN Express.
The project feasibility study report is to be prepared by the end of next year.
The total length of the railway project will be 1,541 kilometers (957.5 miles), passing through 20 provinces and cities, including the capital Hanoi, Ha Nam, Nam Dinh, Ninh Binh, Thanh Hoa and Nghe An.
The Parliament also allowed the prime minister to issue government bonds to supplement the annual budget and investment plan for the project.
The prime minister has also authorized the mobilization of the official development capital and foreign preferential loans for the proposed project.
