The public-private partnership (PPP) has been formalized in a memorandum of understanding signed between MorFund Financial Inc. and Phuong Nam Science and Technology Institute (PNSTI), which was in charge of the project.
PNSTI said that the investment deal was the last legal step needed to a complete feasibility report on the project, which would be submitted to the Ministry of Transport, the head administrator and the lawmaking National Assembly (Vietnam) soon for endorsement.
Construction on the high-speed rail is expected to start in late 2018 and promise a travel time of 45 minutes between Ho Chi Minh City and Can Tho.
As indicated by Prof. Dr. Tran Cong Hoang Quoc Trang, leader of PNSTI, the Canadian Consulate General in Ho Chi Minh City has sworn to give proficient and specialized help to project development with its modern rail technologies expertise.
At the moment the Mekong Delta region in Southern Vietnam is not associated with the nation's north–south railroad network which has its last station in Ho Chi Minh City.