VinSpeed ​​Company registered to invest in the North-South high-speed railway project

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 Vietnamese economy's breakthrough in the era of growth.

VinSpeed's 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 main route, contribute to promoting economic growth, improving people's lives - VinSpeed ​​determines that this will be a long-term dedication project for many decades.

Illustration of high-speed rail projects around the world .

The project has an investment capital of about VND 1,562 trillion (equivalent to about USD 61.35 billion), 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 VND 312.33 trillion (about USD 12.27 billion). 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 pressure on the State budget, especially in the context that most high-speed railway 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 2025, accelerate the construction progress, and put the entire line into operation before December 2030. Currently, VinSpeed ​​is 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. Duong Thu Van, representative of VinSpeed ​​High-speed Railway Investment and Development Joint Stock Company, shared: “This is a historic moment for the Vietnamese private sector because we deeply feel the determination, support and expectations of the Party, State and People for the private sector. Therefore, despite knowing that there are many difficulties and challenges, we have boldly and proactively registered to invest in this project. We are committed to making every effort, being resolutely creative and taking action to develop the project.

We believe that, with our flexibility and business experience, we 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 deploy development and construction of the entire route simultaneously and together develop Vietnam's high-speed railway industry, contributing to bringing pride to the Vietnamese people. We look forward to receiving strong and practical support from the Party, State, enterprises and people."

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 prosperous development in the era of national development.

Source: https://baodautu.vn/cong-ty-vinspeed-dang-ky-dau-tu-du-an-duong-sat-cao-toc-bac---nam-d283609.html