Becamex Group Proposes $6.7 Billion Bàu Bàng – Cái Mép Railway Line

On the afternoon of October 1st, Mr. Nguyen Van Duoc, Chairman of Ho Chi Minh City People’s Committee, along with a working delegation, met with Becamex Group to discuss railway projects. Vice Chairman of Ho Chi Minh City People’s Committee, Mr. Bui Xuan Cuong, also attended the meeting.

Reporting to the delegation, Mr. Nguyen Van Hung, Chairman of Becamex Group’s Board of Directors, stated that after the consolidation, Ho Chi Minh City has significant potential for development and leveraging local strengths. This opens up opportunities to connect regions via road, waterway, and future railway networks.

“Becamex Group, with over 90% state-owned capital, aims to continue partnering with the government for development,” said Mr. Hung.

In addition to the approved Railway Line 1 connecting Suoi Tien to Binh Duong New City with a total budget of VND 47 trillion, Becamex presented the Bau Bang – Cai Mep Logistics Railway project. This 127km line, with an investment of nearly VND 153 trillion, will operate at 160km/h for passenger trains and 120km/h for freight trains.

The line is expected to directly connect established industrial zones in Binh Duong and Dong Nai with the deep-water Cai Mep – Thi Vai port cluster, enhancing maritime transport advantages.

Becamex proposed that Ho Chi Minh City apply special corporate income tax policies and land use fees, allow corporate bond issuance for infrastructure projects, and utilize ODA loans and investment funds for project implementation.

They also requested that Becamex Tokyu (a joint venture between Becamex and Japan’s Tokyu Group) be allowed to participate in the project.

Additionally, Becamex urged the city leadership to address challenges in transportation projects, industrial zones, and solar energy initiatives.

After hearing input from department leaders, Chairman Nguyen Van Duoc emphasized the need to focus on effective solutions, prioritizing the resolution of business challenges, as these directly impact the city’s progress.

“With this mindset, we must move forward without hesitation and ensure this principle is upheld across all political levels,” he stressed.

Regarding the two proposed railway projects, the Chairman urged Becamex to develop detailed plans and allocate resources for implementation, assuring full city support.

He also encouraged Becamex to collaborate with capable partners for technology transfer.

Mr. Duoc stated that following discussions with Dong Nai province, Ho Chi Minh City would propose the Bau Bang – Cai Mep railway project to the central government for approval, with the expectation that Becamex would lead the study and execution.

Addressing Becamex’s concerns, he reiterated that the city views business challenges as its own, urging departments to act decisively and honor commitments to avoid project delays.