Beijingwalker
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- Nov 4, 2011
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Japan Quits! Vietnam Hands Over $67 Billion North-South High-Speed Rail Project To China
As early as 2001, Vietnam proposed a grand idea, which was to build a high-speed railway covering the whole country. It was not until 2016 that Vietnam decided not to accept China's cooperation proposal and chose to cooperate with Japanese railway companies instead.
However, 18 years have passed, and the project has not yet moved from the planning stage to actual construction. This long delay has caused the project to stagnate and made the cooperation relationship between the two sides shaky.
Faced with this situation, the Vietnamese government took decisive action this year. They held a special meeting on the "Investment Policy of the North-South High-Speed Railway Project" and decided to invest 67 billion US dollars to promote this high-speed railway project that runs across the north and south.
But in fact, Vietnam also faces a series of problems in restarting this high-speed railway project, such as how to raise tens of billions of dollars in project funds, and the current lack of high-speed railway technology in Vietnam. Will they choose international partners or let their own construction companies undertake the project?
It was not until March this year that the Vietnamese government made a major decision to terminate cooperation with Japan and seek financial and technical support from China. This shows that Vietnam's confidence in Japan has weakened, and it has begun to recognize China's capabilities in high-speed railway technology and construction.
So why has Japan failed to complete the construction of this high-speed rail line for so many years? Now, can China help Vietnam complete this great high-speed rail project?