Vietnam buys bullet train

Vietnam Railways Corp. will use Japan’s bullet-train technology for a planned $56 billion link connecting Hanoi and Ho Chi Minh City, the Nikkei newspaper reporting, citing an interview with Chief Executive Officer Nguyen Huu Bang.

The Vietnam government aims to build the line in sections and start running high-speed trains by 2020, the report said.

Vietnam may seek to secure funds for the project from Japan’s official development assistance program, as well as the Asia Development Bank and the World Bank, the Nikkei said. The report didn’t identify any companies that could benefit from the project.