Draft revised law looks to establish framework for railway development, investment attraction
Instead of relying solely on ticket revenues, investors may be granted rights to exploit land around railway stations and urban areas, thereby generating resources for reinvestment, accoding to the draft revised law.
North–South train departing from Hanoi Station (File photo: VNA)
Hanoi (VNA) – The National Assembly (NA) held group discussions on the afternoon of June 16 to scrutinise the draft revised Railway Law, part of its ongoing 9th session.
Minister of Construction Tran Hong Minh stated that while the 2017 Railway Law has yielded positive results, it has also revealed a number of institutional and regulatory bottlenecks that have hindered the efficiency and effectiveness of railway infrastructure development. As Vietnam prepares to implement major rail projects in the coming period, a series of specific mechanisms and policies will be necessary.
To that end, the ministry has proposed amending the law to incorporate these mechanisms, aiming to build a consistent legal framework, Minh said. The draft has already received feedback from the Government and the Politburo and is currently being refined following a review by the NA’s competent agencies.
According to the minister, the revised law introduces new provisions on capital mobilisation and the promotion of the private economic sector’s investment. Five private investors have already registered to participate in upcoming railway projects.
One of the notable additions to the draft law is the integration of railway development with urban planning models. Instead of relying solely on ticket revenues, investors may be granted rights to exploit land around railway stations and urban areas, thereby generating resources for reinvestment.
The draft law also proposes streamlined investment procedures to reduce project preparation time and lower costs for the State, Minh noted.
Vietnamese steel and mechanical engineering firms are poised for investment boost if the revised railway law is adopted. (Photo: VNA)
Lawmakers broadly supported the proposed amendments which they said will not only help modernise the railway system but also provide a favourable legal corridor for developing the railway industry and attracting investment from various economic sectors.
The revisions' focus on sci-tech application, international cooperation, and the improvement of human resources quality will contribute to a sustainable and globally integrated railway sector, they opined.
Regarding railway infrastructure requirements stipulated in Article 10 of the draft, deputies proposed clearer stipulations tailored to each category of railway within the national system. They also called for the inclusion of partnership mechanisms, tendering procedures, investor rights, and the use of digital technologies and artificial intelli🍰gence in railway management and operations./.
During the session, Nguyen Thi Quyen Thanh, a deputy from the Mekong Delta province of Vinh Long, proposed that the drafting committee further specify support policies to further encourage and facilitate the participation of women in UN peacekeeping missions.
On June 13, NA deputies examine the draft resolution for the second amendment and supplementation of certain articles of the 2013 Constitution, alongside revisions to multiple foundational laws governing the Vietnam Fatherland Front, Trade Unions, Youth, and Implementation of the Grassroots Democracy.
Discussions centred on appointments to the NA Ethnic Council and the NA Committee on Deputy Affairs, as well as personnel proposals to be submitted for consideration at the 15th NA’s ongoing ninth session.
The Party and State of Vietnam always attach great importance to and give top priority to the development of Vietnam–China relations. Vietnam is ready to work with the Chinese Party and State to further deepen the Comprehensive Strategic Cooperative Partnership and promote the building of the Vietnam-China community with a shared future that carries strategic significance.
Under the leadership of President Ho Chi Minh and the CPV, President Cuong said, the press has been a steadfast force on the ideological and cultural front, rallying the masses to pursue national aspirations.
NA Chairman Tran Thanh Man stressed the need to accelerate the application of artificial intelligence and smart teaching equipment, innovate teaching and assessment methods, and further improve the quality of formal education.
He also pledged that the NA will promote its ongoing supervision, making sure that every promise must lead to results, and every commitment must bring about real changes.
Minister of Industry and Trade Nguyen Hong Dien welcomed the proposals put forward by the US side and reiterated Vietnam’s request for consideration of key areas of interest, including reciprocal tariff policies and access for Vietnamese key export products to the US market.
Deputy PM Le Thanh Long proposed countries promote shared values, including building trust, sincerity, and solidarity among nations and peoples; fostering cooperation spirit and responsible behaviour as well as upholding international law and the UN Charter; and placing people at the centre and as the goal, the key player, and the driving force of all policies.
The show, together with a grand parade to be held silmutaneously at Ba Dinh Square in Hanoi, will celebrate the 80th anniversary of the August Revolution, the National Day, and the General Staff of the Vietnam People’s Army (VPA).
In particular, in April 2023, the two sides successfully carried out a joint operation that dismantled a major organised, transnational drug trafficking ring involving both Vietnamese and Cambodian suspects.
The Vietnamese Embassy in Israel is closely coordinating with relevant local agencies to stay informed and provide the utmost support possible for Vietnamese nationals.
The launch of Thanh Nien (Young People) newspaper in 1925, even before the founding of the Communist Party of Vietnam, is considered a testament to President Ho Chi Minh’s strategic foresight and strong belief in the guiding power of the revolutionary media.
New Zealand is currently one of Vietnam’s most important partners in the region, marked by a high level of political trust, strong and reliable defence and security cooperation, and increasingly open economic, trade, and investment ties.
Party General Secretary To Lam stressed that the Central Public Security Party Committee must be fully aware of the extremely important role of the People's Public Security force in the country's new revolutionary phase, so as to guide each branch and level of the force as the nation undergoes transformation.
Addressing concerns over university education spending, Son explained that as public universities gain greater autonomy, the Ministry of Finance has scaled back recurrent state funding. “Over the past decade, as autonomy has increased, the State's support has steadily declined”, he noted
Lao Minister of Foreign Affairs Thongsavanh Phomvihane affirmed that the presence of Vietnamese press offices in Laos vividly demonstrates the great friendship, special solidarity, and comprehensive cooperation between the two nations, as the press is not only a means of communication but also an important bridge for spreading consciousness about the history, values, and strategic depth of the Laos – Vietnam relationship to the people of both countries and the international community.
The country is willing to participate in collective efforts to promote cooperation and mobilise resources to advance the current priority issues of developing countries, such as trade, investment, infrastructure connectivity, making the most of scientific and technological advances for development, and people-to-people exchanges, Hang said.
During the negotiations, the US highly evaluated Vietnam’s goodwill and efforts, affirmed its appreciation for the bilateral relationship, acknowledged Vietnam’s proposals and concerns, and considered these an important basis for continuing discussions and moving towards a final agreement.
The Chairman stressed the need for stricter fiscal discipline, faster digital transformation, and more efficient management of State budget revenues and expenditures.
