Vingroup Withdraws from North-South High-Speed Railway Project
On December 25, 2025, Vingroup officially submitted a letter to the government withdrawing its investment registration for the North-South High-Speed Railway project. The conglomerate aims to focus its resources on key infrastructure and energy projects, including the Olympic Sports City and the Trống Đồng National Stadium, as well as high-speed rail lines connecting Bến Thành – Cần Giờ and Hà Nội – Quảng Ninh.
The North-South High-Speed Railway, spanning 1,541 km, is considered the backbone of Vietnam’s transportation network, connecting 20 provinces and cities. This public investment project has an estimated preliminary cost of 1,713 trillion VND (over 67 billion USD).
As the largest infrastructure project in Vietnam’s history—both in scale and investment—it holds significant strategic importance for the country’s socio-economic development. Construction is slated to begin before December 31, 2026, with completion expected by 2035.
Earlier, on the evening of December 23, the Prime Minister chaired a meeting of the Government’s Standing Committee to discuss the implementation of key railway projects.
The Prime Minister directed the establishment of standards, criteria, and regulations to select the most suitable and optimal investment method for the nation. This ensures transparency, feasibility, and a balance of interests among stakeholders while preventing corruption and group interests.
MIK Group Exits Hong River Scenic Avenue Consortium
MIK Group has submitted an official letter to the Hanoi People’s Committee requesting to withdraw from the consortium of investors for the Hong River Scenic Avenue project.
In the spirit of consensus and shared project goals, MIK Group has collaborated with Dai Quang Minh Real Estate JSC and other consortium members to unanimously agree on its withdrawal. All rights and obligations within the consortium will be transferred to Dai Quang Minh, the consortium leader, as per mutual agreement.
MIK Group’s proactive withdrawal and transfer of its capital contribution to Dai Quang Minh are deemed essential to streamline project management and execution in the coming period.
Post-withdrawal, MIK Group will refocus on its core strength: developing large-scale, high-quality urban housing projects in key metropolitan areas. The company is committed to ensuring synchronized infrastructure and amenities, fostering sustainable, long-term growth.
Six days prior, on December 19, 2025, the consortium of investors—Dai Quang Minh, Van Phu, MIK Group, Thaco, T&T Group, and Hoa Phat Group—launched the Hong River Scenic Avenue project under the guidance of the Hanoi People’s Committee in Phu Thuong Ward.
With a preliminary investment of approximately 855 trillion VND, the project will be implemented through a public-private partnership (PPP). Covering an area of 11,000 hectares, it stretches from Hong Ha Bridge to Me So Bridge, spanning 19 wards and communes in Hanoi.
The project includes an 80 km transportation avenue, a 3,300-hectare landscape and entertainment park system, and 2,100 hectares of land clearance for urban redevelopment.
Deo Ca Group’s Withdrawal
Deo Ca Group previously withdrew from the Hong River Scenic Avenue project, citing misalignment with its core expertise.
The group also exited the Tan Phu – Bao Loc Expressway project.
For the Tan Phu – Bao Loc Expressway, Deo Ca dedicated over five years to collaborating with Lam Dong Province and relevant ministries to advance the project under the PPP Law.
Even during periods of external challenges, when other companies withdrew, Deo Ca remained committed to ensuring the project’s timely implementation.
As the project enters the execution phase with a newly selected investor, Deo Ca has proactively stepped down to avoid overlap and ensure clear accountability, allowing for seamless project progression.
Chairman of Deo Ca Group Explains Halt in Red River Mega-Project: Prioritizing Long-Term Sustainability Over Short-Term Recognition
In the realm of transportation infrastructure, the paramount concern, as emphasized by the Chairman of Deo Ca, is to ensure the necessary conditions for projects to not only commence but also to sustain their momentum over the long term. It is imperative to prioritize longevity and stability, rather than resorting to desperate measures to make a splash at every stage.
Why Did Vingroup, MIK Group, and Deo Ca Abruptly Withdraw from Vietnam’s Largest-Ever Infrastructure Megaprojects?
In a remarkably short span, major infrastructure projects have witnessed a series of notable developments as industry giants proactively step back from their commitments.
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