HÀ NỘI — VinSpeed Joint Stock Company has officially registered to invest in Việt Nam’s North–South high-speed railway project, proposing a total investment of US$61.35 billion and pledging to begin construction before December, with full operations expected by December 2030.

This move is viewed as a bold strategic initiative aligned with the Party’s resolutions on fostering science and technology, digital transformation and private sector development. The proposed investment, totalling VNĐ1.56 quadrillion, excludes costs related to site clearance and resettlement.

VinSpeed plans to mobilise 20 per cent of the funding — around VNĐ312.3 trillion ($12.27 billion) — from its own resources, while requesting the remaining capital as a zero-interest loan from the State over a 35-year term. The company believes this approach will significantly ease pressure on the State budget compared to traditional public investment models.

The company is currently working with partners from China, Germany and Japan to transfer technologies for the production of locomotives, carriages and control systems domestically. VinSpeed also aims to establish in-country training programmes to build a skilled workforce and lay the foundation for Việt Nam’s high-speed rail industry. 

In parallel, VinSpeed will coordinate with Vingroup and Vinhomes to develop modern urban zones around the rail stations following the Transit-Oriented Development model. This integrated approach is expected to boost local economies and generate additional revenue streams to support investment recovery.

VinSpeed representative Dương Thu Vân said: “Despite many challenges, we are committed to acting boldly and creatively to bring this project to life. We hope to receive strong support from the Government, the business community and the public to create a source of national pride.”

VinSpeed, with a charter capital of VNĐ6 trillion, is the latest member of the ecosystem established by billionaire Phạm Nhật Vượng, aiming to help realise Việt Nam’s ambition of becoming a prosperous and modern country in the new era. — VNS