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 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'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.

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.

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 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.