VinSpeed’s proposal to invest in the North-South high-speed railway project is a concrete action to promote Resolution 57-NQ/TW on promoting science, technology, innovation, and national digital transformation, and Resolution 68-NQ/TW on private economic development by the Party and the State. With a spirit of serving the country and a desire to build a high-speed railway industry, VinSpeed aims to operate this vital route as soon as possible, contributing to economic growth and improving the lives of the people. VinSpeed envisions this project as a long-term contribution spanning decades.
Illustrative image of high-speed railway projects worldwide
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The project has an investment capital of approximately 1,562 trillion VND (equivalent to 61.35 billion USD), excluding compensation, support, relocation, and resettlement costs for land clearance. VinSpeed is responsible for arranging 20% of the project’s total investment, equivalent to 312.33 trillion VND (approximately 12.27 billion USD). For the remaining 80% (excluding land clearance costs), VinSpeed proposes to borrow from the State at a zero-interest rate for 35 years from the date of disbursement.
Thus, compared to the scheme approved in Resolution 172/2024/QH15, VinSpeed’s proposal significantly reduces the burden on the state budget, especially given that most high-speed railway projects worldwide experience delays, inability to recoup investments, or prolonged subsidization.
VinSpeed aims to commence the project before December 2025, accelerate construction, and operate the entire line before December 2030. Currently, VinSpeed is negotiating with partners from countries with leading railway industries, including China, Germany, and Japan, for technology transfer and local production of locomotives, carriages, and signaling systems in Vietnam. The company will also promptly organize personnel training to master the technology and ensure proactive development of the railway industry.
To ensure partial revenue repayment to the State, VinSpeed will collaborate with Vingroup (HOSE: VIC) and Vinhomes (HOSE: VHM) to propose the development of modern, fully-equipped cities adjacent to railway stations based on the TOD (Transit-Oriented Development) model. Currently, most areas adjacent to railway stations are far from the centers of provinces and cities and have yet to create distinct value. However, with investments from the Vingroup ecosystem, these areas will undoubtedly develop robustly, contributing to infrastructure improvements, enhanced living standards, tourism promotion, and economic growth in the respective localities.
“This is a historic moment for Vietnam’s private enterprise sector,” said Ms. Dao Thuy Van, Vice President of VinSpeed. “We deeply feel the determination, support, and expectations of the Party, State, and people for private enterprises. Despite the challenges, we have boldly and proactively registered to invest in this project. We are committed to making every effort, taking creative and decisive actions to develop the project. We believe that with our flexibility and business experience, we will generate revenue to offset investment costs and contribute to timely loan repayment. We will also cooperate extensively with domestic businesses to develop and construct the entire line simultaneously, jointly fostering the high-speed railway industry in Vietnam and bringing pride to Vietnamese people. We strongly hope for the vigorous and practical support of the Party, State, businesses, and people.”
With a charter capital of 6,000 billion VND, VinSpeed will be the next spearhead in the ecosystem founded by billionaire Pham Nhat Vuong, contributing to the current pillars in propelling Vietnam to international prominence and prosperity in the nation’s ascendant era.
Ha Le
– 11:59 14/05/2025
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