North-South high-speed railway investment: Who has the strength to shoulder the burden?

Regarding the recent proposal by some private enterprises to participate in investing in the North-South high-speed railway, expert Nguyen Minh Phong emphasized that he and many others were happy to see the spirit of participation of private enterprises - they are willing to shoulder a great responsibility for the country. That is in line with the spirit of Resolution 68.

If the whole society agrees and the State has good policies to allow the private sector to successfully build the North-South high-speed railway, that will be the biggest breakthrough, the most convincing test and proof for our Party's entire policy on the private economy in the coming time.

However, the problem here is that a "filter" is still needed to select qualified domestic private investors.

A large-scale project like the North-South high-speed railway must choose a large private enterprise as the investor, as the sole focal point - a qualified conductor, with the highest responsibility. (Illustration photo)

“A crowd does not necessarily mean fun. If we cannot coordinate smoothly, it can even cause interference, prolonging the process of evaluating and selecting investors, missing golden opportunities and increasing costs.

In addition, we cannot turn the country's vital project into a place for all businesses to "try their hand" and then take risks.

In the marketplace, businesses can win or lose. But the project of the century that determines the future and position of the country can only be won!” , Mr. Phong emphasized.

According to Mr. Phong, to carry out a "once in a century" project like the North-South high-speed railway, one cannot rely solely on enthusiasm, but it requires strategic vision, top-level organizational capacity and infrastructure management skills.

High-speed railways are not a pilot project, nor are they a playground for those who “dare to think and dare to do”. This is a complex infrastructure ecosystem, requiring the integration of advanced technology, precision engineering down to the millimeter, a synchronous operating system and a strict safety process. Even a small error can cause serious consequences, in terms of people, property and social trust.

Sharing the same view, economic expert Vu Dinh Anh emphasized that, in addition to spirit and enthusiasm, the most important thing for an unprecedented project of the country is economic, financial and social feasibility to ensure that it is true to its core meaning, helping to spread to dozens of industries related to the super high-speed railway project.

Who is capable of taking on the role of sole "conductor"?

Many economic experts have expressed their opinion that, with a mega project of century significance like the North-South high-speed railway, the optimal solution when choosing a private enterprise as an investor is to choose a single focal point - a conductor with enough capacity, who bears the highest and only responsibility. Because this will enable the enterprise to make decisions faster, under the close supervision of the State.

On the contrary, if the project is fragmented and implemented in segments, it is likely to lack synchronization, be behind schedule, cause capital increase and lose the country's strategic development opportunity.

Private enterprises wanting to participate in key national projects is a very good sign, however, it is necessary to consider whether the enterprise's capacity is suitable or not. (Illustration photo)

Specifically, the State needs to set out basic, specific and consistent principles and criteria to serve as standards for selecting project contractors. A selected enterprise needs to have solid financial capacity, the ability to mobilize large amounts of capital, the ability to master technology, experience in implementing rapid infrastructure projects and a strong commitment to progress and quality according to the most feasible scenarios, harmonizing goals and balancing interests, rights and specific responsibilities.

Economist Le Dang Doanh said that the fact that private enterprises want to participate in key national projects is a very good sign. However, it is necessary to consider whether the capacity of the enterprises is suitable or not.

“We mobilize all domestic resources, but we need a highly specialized council to assess the capacity of these businesses. From there, we can choose a single conductor with enough capacity to carry out the project,” Mr. Doanh emphasized.

Emphasizing the need to find a business with enough capacity to invest in the North-South high-speed railway project, expert Nguyen Xuan Thuy expressed his confidence that he could "trust" VinSpeed of the Vingroup ecosystem.

“VinGroup is famous for being an experienced company, they have done many big projects. In addition, they also have experience in scientific and technological research. Financially, they have enough resources to access and purchase foreign technologies. Therefore, I think this company can completely do key projects,” Mr. Thuy analyzed.

Similarly, Mr. Nguyen Quang Huy, CEO of the Faculty of Finance and Banking (Nguyen Trai University), also said that the proposal of a leading private corporation in Vietnam like Vingroup to participate in a key national project such as the North-South high-speed railway has many strategic meanings and advantages.

First is the reputation for progress and capacity to implement large-scale projects. Vingroup has demonstrated its ability to execute quickly and effectively through a series of projects such as Vinhomes, Vincom, Vinmec, Vinschool and especially VinFast with a global electric car manufacturing complex deployed at lightning speed in a short time. This demonstrates the enterprise's very high capacity to organize, mobilize resources and manage progress - a key factor in large-scale infrastructure projects such as high-speed railways.

In addition, Vingroup has strong and flexible financial mobilization capabilities. With large total assets and the ability to mobilize capital domestically and internationally, Vingroup can fully participate as an investor or joint venture with domestic and foreign partners.

In particular, Vingroup always has an innovative mindset, applies technology and has a long-term vision. VinFast is a typical example of breakthrough thinking and a "leap forward" strategy. This shows that Vingroup is not simply an infrastructure investor but also has aspirations for technology, connectivity, and global value chains. If they apply this mindset to railway transport, they can bring a modern approach, integrating digital technology, ancillary services, and logistics, thereby elevating the national transport ecosystem.

"I think Vingroup's capacity is completely capable of implementing the North-South high-speed railway project," said Mr. Huy.

Economist Nguyen Minh Phong said that if one were to “compare chopsticks and choose a flagpole” among domestic private enterprises to carry out the project, VinSpeed would be the number 1 reliable choice. Because the enterprise is backed by Vingroup - one of the largest private corporations in Vietnam and also a major brand in Southeast Asia, with experience in implementing and operating large national projects and internationally recognized.

“Reality shows that Vingroup has created trust among investors and the public, and has also gone through many bumps, with many achievements in the market, and is respected by both domestic and international public opinion.

This is a crucial factor for the ability to lead and ensure success when building a project that is a national symbol and requires international support such as the North-South high-speed railway project," Mr. Phong emphasized.

Duc Thien - Ngoc Vy

Source: https://vtcnews.vn/dau-tu-duong-sat-cao-toc-bac-nam-ai-du-suc-manh-ganh-vac-ar946073.html