Representative of Vietnam 3000 LLC speaking at the meeting. Photo: VGP
The company in question is
Vietnam 3000 LLC – Vietnam Investment and Development Group.
It was one of the five enterprises that attended a meeting with leaders from various ministries, sectors, and businesses regarding the North-South high-speed railway project (total investment of approximately $67 billion) on November 27. The meeting was chaired by Deputy Prime Minister Nguyen Hoa Binh.
The five companies present at the meeting were: Vietnam 3000 LLC – Vietnam Investment and Development Group, Discovery Corporation JSC, Vietnam Railway Transportation JSC, Truong Hai Group Corporation (THACO), and Vinspeed High-Speed Railway Investment and Development JSC.
During the meeting, the representative of Vietnam 3000 LLC emphasized that the North-South high-speed railway is a massive project requiring coordination between the government and investors, particularly in capital mobilization.
The company expressed its willingness to undertake the project and proposed a public-private partnership (PPP) model based on “joint coordination and support,” citing potential risks. Additionally, the representative stated that the company would raise and secure funds for the project while attracting top experts in the field.
Despite expressing interest in a PPP model, when asked about the company’s financial capacity and the percentage of capital it would contribute, as well as the legal basis and mechanisms for fund mobilization, the representative failed to provide clear answers. Some responses were also irrelevant to the questions posed.
The Ministry of Construction noted that Vietnam 3000 LLC’s dossier lacked clear evidence of financial capability, and its project timeline proposals were vague.
Similarly, the State Bank requested the company to provide specific details about its financial ecosystem rather than making general promises about bringing 100% of the capital to Vietnam.
What is the scale of Vietnam 3000 LLC?
Company introduction on Vietnam 3000 LLC’s website.
According to the National Business Registration Portal, Vietnam 3000 LLC – Vietnam Investment and Development Group was established in December 2020. The company is registered in 84 business sectors, with its primary focus on wholesale food trading. It also operates in construction, including railway and residential projects.
Vietnam 3000 LLC has a registered capital of 369 billion VND, with Ms. Ngo Thi Thang (born in 1954, residing in Cau Giay, Hanoi) serving as the director and legal representative.
In its self-introduction, the company claims to have been established to realize part of the “World 3000” program in Vietnam, as well as global economic development and human rights initiatives.
The company lists three affiliated legal entities: 3000 Vietnam Energy and Water JSC, AGR.3000 Vietnam JSC, and Vietnam 3000 LLC.
Despite investing in multiple sectors, Vietnam 3000 LLC has a limited project portfolio. Notably, its technology projects include only PowerPoint design services, while its commercial and production projects feature internship report writing services.
Deputy Prime Minister Nguyen Hoa Binh chairing the meeting with leaders from ministries, sectors, and businesses on the North-South high-speed railway project. Photo: VGP
At the November 27 meeting, the Deputy Prime Minister acknowledged that some companies demonstrated serious preparation with detailed and well-crafted reports. However,
others submitted superficial reports with unclear ideas, and one company with only 70 employees and a capital of 2,000–3,000 billion VND was deemed incapable of meeting the project’s requirements.
The Deputy Prime Minister stressed that the meeting was not for selecting or deciding on investors. Based on the available materials and information provided by the companies, he instructed the Ministry of Construction to collaborate with the Ministry of Finance, the State Bank of Vietnam, and relevant agencies to expedite the completion of a proposal on investment methods and accompanying policies for government review. He also urged ministries and sectors to actively contribute feedback to the report.
According to the Deputy Prime Minister, this will serve as a critical foundation for the government’s discussions and evaluations before submitting the report to higher authorities for approval.
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