Raising financial resources for high-speed rail development in the form of public-private partnership and lessons for Vietnam

Abstract

High-speed rail (HSR) is considered as one of the breakthrough technologies in the field of passenger transport in the second half of the 20th century, however, the construction, maintenance and operation are very expensive, involving huge amounts of costs. In Vietnam, the Ministry of Transport has submitted to the Politburo to consider the investment policy of the North-South high-speed railway project with a total length of 1,508 km, with an estimated total investment of 58.71 billion [1]. This is the first project deployed in Vietnam, with the largest total investment in Vietnam's history, so it is necessary to carefully study in order to choose the method and source of investment capital, technical factors and suitable models with international development trends and conditions in Vietnam. The article studies the experience of mobilizing financial resources for the development of the HSR system in the form of a public-private partnership (PPP) in some typical countries in the world; based on the actual conditions of Vietnam to draw important lessons in choosing investment forms in line with development policies and actual resources, ensuring strategic and long-term vision.