A coalition in the West asked to build a North-South high-speed railway, self-funding 100 billion USD

railway - Photo 1.

Illustration using AI technology - Made by: T.DAT

"Our advantage is finance, we have international partners who can support and transfer technology, especially new technology criteria such as green energy, positive impact on the environment" - Mr. Vo Xuan Truong, chairman of the Mekolor and Great USA Investment Alliance, told Tuoi Tre Online .

Mr. Truong confirmed that this alliance has just submitted a proposal for permission to participate in the investment project of the high-speed railway on the North-South axis on June 3. This proposal has been sent to Prime Minister Pham Minh Chinh and Deputy Prime Minister Tran Hong Ha.

In the 12-part proposal, the alliance said the project would be invested directly with its own capital with a total amount of about 100 billion USD.

The alliance affirms that it will arrange and demonstrate sufficient cash resources, ensuring 100% smooth project implementation with 100 billion USD from investment funds of Great Core Fund and Mekolor Captial - belonging to the ecosystem of Mekolor and Great USD.

Notably, the alliance did not propose that the Vietnamese Government provide counterpart funds or financial guarantees, in order to "contribute to reducing the burden of national public debt".

In addition, this unit also committed to put the project into operation after 5 years from the date of receiving the clean site; the exploitation period is 49 years; using about 95% of the human resources and operating team as Vietnamese; cooperating with domestic contractors and production units that meet the technical requirements according to regulations.

Mr. Vo Xuan Truong is currently the Chairman of the Board of Directors, the legal representative of Mekolor Joint Stock Company, a company established in 2016, headquartered in Can Tho . The main business line of this company is organizing trade introduction and promotion.

This unit introduces Mekolor as a private organization founded in Vietnam, acting as a "brain" combining blockchain technology with labor value to redefine the concept of credit and assets.

Mekolor's typical initiatives include the global decentralized financial ecosystem (Great Network), the global citizen card with credit identification and access to capital (GCNID), the private economic initiative of the Mekong sub-region (OMOM), financialization of social security...

Meanwhile, Great USA Inc is introduced as a business established in the state of Florida (USA).

Some information related to Mr. Vo Xuan Truong and Mekolor Company

In 2021, Mekolor Joint Stock Company, of which Mr. Truong is the director, filed a lawsuit against Barclays Long Island Limited at the International Court of Arbitration (ICC).

Specifically, in 2020, Mekolor signed a loan agreement of 20 billion EUR from Barclays to implement a tourism project in An Giang. Barclays announced that it had transferred 1 billion EUR via the SWIFT system, but the bank where Mekolor had an account confirmed that it had not received this amount. The State Bank's inspection also did not detect the corresponding transaction. Therefore, Mekolor believed that Barclays had breached the contract and sued for 20 billion euros in compensation.

In addition, according to the conclusion of the authorities, in 2024, Mr. Truong was administratively fined 20 million VND by the Inspector of the Department of Information and Communications of Can Tho City. The fined acts include slander, insulting organizations/individuals and illegally collecting and using personal information. Mr. Truong then had to remove all the violating content posted online.

Regarding the North-South high-speed railway project, in mid-May 2025, VinSpeed High-Speed Railway Investment and Development Joint Stock Company proposed to invest in the form of direct investment, self-arranging 20% of the capital, equivalent to 12.27 billion USD (excluding site clearance costs). The expected operating time is after 5 years of construction, with an investment period of 99 years.

Meanwhile, THACO Group proposed a plan to contribute 20% of the total capital through equity and legally mobilized domestic capital. The remaining capital will be borrowed from domestic and foreign credit institutions. The project is expected to be completed within 7 years, with an investment term of 70 years.

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Source: https://tuoitre.vn/mot-lien-minh-o-mien-tay-xin-lam-duong-sat-cao-toc-bac-nam-tu-lo-von-100-ti-usd-20250609162322134.htm