Billionaire Pham Nhat Vuong's company officially registered to invest in the North-South high-speed railway.

VinSpeed ​​representative said that the proposal to invest in the North-South high-speed railway project is a specific action in response to Resolution No. 57-NQ/TW on promoting science, technology, innovation and national digital transformation; and Resolution No. 68-NQ/TW on private economic development of the Party and State.

In the spirit of serving the country, as well as the desire to build a high-speed railway industry, soon put into operation the arterial route, contributing to promoting economic growth, improving people's lives - VinSpeed ​​determined that this will be a long-term dedication project for many decades.

The project is expected to be completed by 2030, laying the foundation for the railway industry and creating new development momentum for localities, contributing to the breakthrough of Vietnam's economy in the era of rising up.

The project has an investment capital of about 1,562 trillion VND (equivalent to about 61.35 billion USD), excluding compensation costs, relocation support, and resettlement for site clearance. Of which, VinSpeed ​​is responsible for arranging 20% ​​of the total investment capital of the project, equivalent to 312,330 billion VND (about 12.27 billion USD). For the remaining 80% (excluding compensation costs, relocation support, and resettlement for site clearance), VinSpeed ​​proposes to borrow State capital without interest within 35 years from the date of disbursement.

Thus, compared to the plan approved in Resolution No. 172/2024/QH15, VinSpeed's proposal will significantly reduce the pressure on the State budget. Especially in the context that most high-speed rail projects in the world are slow or unable to recover capital and suffer prolonged losses.

VinSpeed ​​hopes to make every effort to start the project before December this year, speed up the construction progress, and put the entire line into operation before December 2030. The company is currently negotiating with partners from countries with the world's leading railway industries such as China, Germany, and Japan to receive technology transfer and manufacture locomotives, carriages, and signal and control systems in Vietnam. The company will also quickly organize personnel training and master technology to take the initiative in developing the country's railway industry.

To ensure a portion of the revenue returned to the State, VinSpeed ​​will cooperate with Vingroup and Vinhomes to propose the development of modern urban areas with full amenities in locations adjacent to railway stations according to the TOD (Transit Oriented Development) model. Currently, most of the areas adjacent to railway stations are far from the centers of provinces and cities, not creating clear value, but when invested by the Vingroup ecosystem, they will certainly develop strongly, contributing to changing the appearance of infrastructure, improving living standards, promoting tourism and creating economic development momentum for localities.

Ms. Dao Thuy Van - Deputy General Director of VinSpeed ​​High-speed Railway Investment and Development Joint Stock Company shared: This is a historic moment for the private sector in Vietnam. Enterprises are deeply aware of the determination, support and expectations of the Party, the State and the people. Therefore, despite knowing that there are many difficulties and challenges, the company is still bold and proactive in registering to invest in this project.

"We are committed to making every effort, being creative and taking action to develop the project. We believe that with our flexibility and business experience, VinSpeed ​​will generate revenue, offset investment costs, and contribute to timely repayment of loans. We will also cooperate extensively with domestic enterprises to be able to develop and build the entire route simultaneously and together develop Vietnam's high-speed rail industry, contributing to bringing pride to the Vietnamese people," Ms. Dao Thuy Van emphasized.

VinSpeed ​​High-speed Railway Investment and Development Joint Stock Company has a charter capital of VND6,000 billion. VinSpeed ​​will be the next spearhead in the ecosystem founded by billionaire Pham Nhat Vuong, contributing with the current pillars to bring Vietnam to international level and develop prosperously in the era of national development.

Source: https://thanhnien.vn/cong-ty-cua-ti-phu-pham-nhat-vuong-chinh-thuc-dang-ky-dau-tu-duong-sat-cao-toc-bac-nam-185250514115337359.htm