Viet Nam Plansto build $67-billion High-Speed Railway

Vietnam said Saturday that it will build a $67 billion high-speed railway from Hanoi to Ho Chi Minh City, in a much-needed boost to infrastructure that is expected to drive growth and enhance its reputation among foreign investors.

The railway, which will stretch more than 1,500 Kilometers from the capital in the north to the country's business hub in the south, will reduce the current journey time by rail from 30 hours to around five.

"The national assembly voted to approve a resolution on investment policies for the high-speed railway project on the North-South axis," said a statement on VietNam parliament's website.VietNam's transport infrastructure is considered relatively weak, with a road network struggling to keep up with demand and an underdeveloped rail system.