Businesses Urged to Finalise Proposals for High-Speed Rail Investment
According to the Ministry of Construction, several prominent enterprises have submitted proposals to the Government and relevant ministries regarding their participation in investing in the North-South high-speed rail line. Notable names include VinSpeed JSC (under Vingroup), Thaco Corporation, Thang Long Quoc Gia Construction JSC, Vietnam Railway Transportation JSC, and others.
However, the Ministry of Construction emphasised that these proposals are still preliminary. To ensure the progress of compilation and reporting to the Prime Minister, the enterprises were urged to urgently review and finalise their applications for approval of investment policies in accordance with Article 33 of the Law on Investment. If they meet the requirements, the proposals will be further processed under Article 34 of the Investment Law, with a deadline for submission set as June 18th, as reported by ZNews.
AI-generated illustration of the future North-South high-speed rail line
Previously, at the regular Government meeting for May 2025, held on June 4th, the Ministry of Construction reported that both VinSpeed and Thaco expressed their desire to invest in the North-South high-speed rail project. The ministry stated that they had coordinated with experts and consulting units to organise meetings to evaluate the investors’ proposals, but the process is still facing difficulties and obstacles.
The Ministry of Construction suggested that after completing the pre-feasibility study report (FS), a more careful selection of capital mobilisation methods should be made.
Minister Tran Hong Minh affirmed the importance of Resolution 68 on private economic development and the need for its substantive implementation. However, encouraging private investment does not mean rushing into implementation. The Ministry of Construction will continue to finalise the detailed report and submit it to the Government and relevant competent authorities regarding the high-speed rail project.
The proposed North-South high-speed rail project is expected to be approximately 1,541 km long, connecting Ngoc Hoi Station in Hanoi to Thu Thiem Station in Ho Chi Minh City, passing through 20 provinces and cities. The design includes a double-track line with a standard gauge of 1,435 mm, electrification, and a maximum speed of 350 km/h.
The infrastructure will comprise 23 passenger stations spaced approximately 67 km apart, along with 5 strategic freight stations. Based on calculations from the pre-feasibility study report and referencing the costs of similar projects worldwide, the total estimated investment for the project is approximately USD 67.34 billion.
Dr. Nguyen Minh Phong (former Head of Economic Research, Hanoi Institute for Socio-Economic Development Research) shared his thoughts with the Securities Newspaper. He stated that it is entirely feasible for a domestic private enterprise to master the entire value chain of the project and that it could be highly effective if organised and managed properly.
“There is no perfect first attempt, but only by boldly entrusting responsibilities and providing opportunities for domestic enterprises to take charge of the project can we build large and robust economic groups capable of competing and developing sustainably,” said Dr. Phong.
According to Dr. Nguyen Minh Phong, an important lesson drawn from international experience is to place trust and empower the domestic private business sector. At the same time, the state needs to establish a transparent, consistent, and stable legal framework to create a favourable environment for businesses to confidently invest, operate, and develop long-term projects. This is the key factor determining the success of the North-South high-speed rail project and ensuring sustainable socio-economic benefits for the nation.
The Korean Real Estate Titan Seeks Approval for a 1,500-Hectare Mega City in Bac Ninh
On June 18, Chairman of the People’s Committee of Bac Ninh province, Vuong Quoc Tuan, met with Mr. Lee Han Joon, CEO of the Korea Land & Housing Corporation (LH), to discuss collaboration on the Southeast Bac Ninh City development project.
“A Toast to Friendship: TH true MILK’s Thousand-Ton Factory in Kaluga”
“When Russia faced economic sanctions, TH Group ventured into the Russian dairy industry. Our founder, Madam Thai Huong, firmly believes that ‘when you eat the fruit, think of the person who planted the tree.’ Investing in Russia is TH Group’s way of giving back to a nation that has supported Vietnam and fostering bilateral friendship.”
The Government’s Urgent Directive for an Ambitious Project: Elevating the International Airport’s VIP Services to a 5-Star, Top 10 Global Standard
The government has issued a strong directive to fast-track a key project involving an airport.
The Luxury of Space: Why the Supply of 70 million VND/m2 Apartments in Thu Duc is Drying Up
In the upcoming years, the supply of luxury apartments priced at 70 million VND per square meter will become scarce as the infrastructure in the eastern part of Ho Chi Minh City reaches completion.
The Slowest of Construction: Contractors Fined for Delays in Renovating Ho Chi Minh City’s Longest Canal
The Tham Luong – Ben Cat – Rach Nuoc Len canal improvement project is currently only 49% complete, falling behind the proposed schedule. Several contractors have been issued warnings, penalties, and reminders by the investor due to their delayed progress and breach of contract.
