Vietnam has approved the construction of a high-speed railway connecting the capital Hanoi in the north to Ho Chi Minh city in the south at an estimated cost of $67 billion.

Vietnam's parliament approved laws on data protection and electricity, as well as a resolution supporting a $67 billion high-speed rail project on Saturday, the last day of its twice-yearly regular session.

The railway, which will stretch more than 1,500 kilometres (930 miles) 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.

Vietnam is going ahead with a multi-billion-dollar high-speed rail line that will link around 20 destinations and span over 957 miles, the country's federal parliament confirmed on Saturday.

Vietnam will start building a $67 billion high-speed rail network to connect its northern and southern provinces in 2027, as the government plans large infrastructure projects to support its economic growth ambitions.

The 15th National Assembly on Saturday passed a resolution on the investment policy for the North-South high-speed railway project with 443 out of 454 deputies voting in favor.