Construction of the North-South Express Railway project is expected to begin before 2030 and be completed before 2045 under targets set by the Politburo.
The Politburo said it will strive to complete approval of the project by 2025 in order for construction to begin by 2030.
The North-South Express Railway will be 1,545 km in length and have a speed limit of about 320 km/h.
It will pass through 20 cities and provinces, between Ngoc Hoi Station in Hanoi and Thu Thiem Station in Ho Chi Minh City.
Total investment is estimated at about $58.71 billion.
The target is part of a conclusion issued recently by the Politburo on orientations for railway transport development by 2030 and vision to 2045.
By 2030, existing railways will be upgraded while urban rail links in major cities like Hanoi and Ho Chi Minh City will be built.