Vietnam’s Parliament rejected the project fast train (bullet train) at a cost of U.S. $ 56 billion; this was the first resistance assembly to the main proposals submitted by the communist government in power.
Nearly 500 members of the panel that normally approve a proposal the government, over the weekend vote to reject the project plan high-speed trains are.
Investment of U.S. $ 56 billion that will be built along the route 975 miles (1570 kilometers), attach Hanoi capital and commercial center in the region south of Ho Chi Minh City in 2035.
Train journey that currently takes 30 hours, can be cut up to 6 hours.
Nguyen Minh Thuyet a member of parliament from the northern province of Lang Son said that the government can not afford to pay these costs, and construction will take approximately 50% of funds from the country’s gross domestic product.
“I am very pleased that these representatives have stated their position,” said Thuyet. “This step helps countries in avoiding a huge debt for projects that are not efficient.”
He also said that this is the first time the main proposal the panel rejected by the powerful communist leaders.
Senior economist Pham Chi Lan said the plan unsound in terms of economics.
“This project is too risky and too luxurious to Vietnam where we have many other things that need to be considered, associated with agriculture, education, electricity and other transportation projects,” he said.
While some board members, who agree with this plan, argued that the fast train will help promote Vietnam’s tourism.
Lan said that this project will not serve the majority population of this country which is about 70% still live in rural areas.