What does VinSpeed, founded by Vietnam's richest man, propose for $61B high-speed rail project?
By Phuong Dung, Doan Loan May 18, 2025 | 01:00 am PTVinSpeed, founded by Vietnam's richest man Pham Nhat Vuong, has proposed a series of new mechanisms for its US$61-billion North-South high-speed rail project.
The National Assembly (NA) approved the project for investment last November with a preliminary cost of around VND1.7 quadrillion (US$67 billion), roughly 14% of Vietnams 2024 GDP.
VinSpeed, a newly established firm under Vuongs VingroupVietnams largest private conglomerate, recently submitted a proposal to build the railway at a cost of VND1.56 quadrillion (US$61.35 billion), excluding costs for site clearance.
How did Pham Nhat Vuong monopolize policy through official dispatches sent to the Prime Minister?
He asked the Government to do things that no one in Vietnam would dare to do without prior agreement.
Yu Lan
2025.05.16
VinSpeed is the investor of the North-South high-speed railway project approved by the Vietnamese National Assembly, worth more than 67 billion dollars.
The State will lend VinSpeed 80% of the value of the above project, equivalent to more than 49 billion dollars, interest-free for 35 years.
Mr. Vuong's company was given land by the state around the stations for real estate development. This real estate must be understood as the private property of Mr. Vuong's company.
Prime Minister: Construction of North-South high-speed railway to begin in 2026
Việt Nam
26/04/2025
On the morning of April 26, concluding the second meeting of the Steering Committee for key projects and national important projects in the railway sector, Prime Minister Pham Minh Chinh , Head of the Steering Committee, said that it is necessary to "be faster and bolder" to develop the railway industry to serve the country's two 100-year goals.
https://www.vietnam.vn/en/thu-tuong-khoi-cong-xay-dung-duong-sat-toc-do-cao-bac-nam-trong-nam-2026
31/01/2025
According to the plan, there will be 23 stations along the North-South high-speed railway line. How has the locality calculated the planning, construction of connecting traffic, and preparation of resources, and what will it do to seize this opportunity?
Reserve land for ready layout
In Thanh Hoa, the high-speed railway line is about 95.2km long with 2 stations (1 station in Dong Tan commune, Thanh Hoa city and 1 planned station in Nghi Son Economic Zone).
Sẵn sàng làm đường sắt tốc độ cao- Ảnh 1.
The North-South high-speed railway project is expected to start construction in 2027 and be basically completed in 2035.
Mr. Trinh Huy Trieu, Director of Thanh Hoa Department of Transport, said that he has consulted the Provincial People's Committee to agree on the route plan, location and scale of the station, as a basis for updating the planning to reserve land and strictly manage.
Based on lessons learned from the implementation of the North-South Expressway project, the Thanh Hoa Department of Transport will advise the province to establish a steering committee and a working group to carry out site clearance work, direct districts and towns to conduct preliminary data counts to deploy construction of resettlement areas in advance; coordinate with relevant departments and branches to advise on specific policies and ensure adequate supply of materials for the project.
Similarly, Mr. Nguyen Dang Minh, Deputy Director of Ninh Binh Department of Transport, said that the implementation of the North-South high-speed railway project has been included in the province's planning. The locality has prepared procedures to ensure land for the project.
The high-speed railway line through Ninh Binh is about 20km long. There is one station on the line located in Khanh Thuong commune, Yen Mo district, 7.5km from the center of Ninh Binh city and the current Ninh Binh station.
Currently this location is agricultural land, the province has also built route 483 to connect.
Proactively connect traffic routes
Speaking with Giao Thong Newspaper, Mr. Vo Tan Duc, Chairman of Dong Nai Provincial People's Committee, said that the high-speed railway through Dong Nai will have a cargo station in Trang Bom, expected to be located in Quang Tien commune, Trang Bom district.
The station is located at this location to connect freight trains of the high-speed railway line with the railway network of the Ho Chi Minh City hub area.
From here, it is possible to connect to the seaport via the Bien Hoa - Vung Tau railway, international transport connecting to Cambodia via the Ho Chi Minh City - Loc Ninh, Ho Chi Minh City - Moc Bai routes. At the same time, it is possible to connect to the West via the Ho Chi Minh City - Can Tho route.
The passenger terminal is located in the center of Long Thanh airport, in Binh Son commune, Long Thanh district. Then, the route goes south, along the corridor of the Ho Chi Minh City - Long Thanh - Dau Giay expressway to Thu Thiem station.
According to Mr. Duc, the locality is currently ready with land so that when the project is implemented, it can start working immediately.
In particular, the Long Thanh station area is located inside the airport so the land clearance has been completed. Along the route, land use planning for railway traffic has also been completed, so when there is a policy, it will be implemented.
The province has also deployed road routes connecting to the railway. In particular, for the location at Long Thanh airport, a series of road routes such as 770B, 769, 669E, 25B, 25C will be upgraded, expanded, and built... The estimated capital for implementing the connecting routes is up to 20,000 billion VND.
Particularly in Trang Bom, traffic is currently quite convenient as Trang Bom station is only about 1km from National Highway 1, convenient to go to Long Thanh airport via Bien Hoa bypass, 769, Bien Hoa - Vung Tau expressway, National Highway 51 and many other intra-provincial and inter-district routes.
Phuoc An seaport has just been put into operation in Nhon Trach, which will be an ideal condition for combining the transportation of goods by rail - road - air - sea.
Meanwhile, in Ho Chi Minh City, Thu Thiem station is the final station of the North-South high-speed railway line, with a total area of 17 hectares.
The entire area has now been cleared and is being carefully fenced off. The planned location for this station is very favorable, located between Mai Chi Tho Avenue and Luong Dinh Cua Street, next to An Phu intersection, the connecting road to Ho Chi Minh City - Long Thanh - Dau Giay Expressway; next to the new urban area of Thu Thiem, the "golden land" of Thu Duc City.
Therefore, when ending at Thu Thiem station, passengers can use other means of transport along connecting roads.
Ho Chi Minh City has also planned to invest in an urban railway connecting Thu Thiem station with Tan Son Nhat; and a Thu Thiem - Long Thanh light rail line to connect these two international airports together.
Mr. Tran Quang Lam, Director of the Ho Chi Minh City Department of Transport, said that the high-speed railway line passing through Ho Chi Minh City is expected to be about 13km long.
Along the corridor following the Ho Chi Minh City - Long Thanh - Dau Giay highway, site clearance is not too worrying.
Expectations to boost socio-economic
Vice Chairman of Binh Dinh Provincial People's Committee Nguyen Tu Cong Hoang said that through studying the documents, there is an overlap between the location of Dieu Tri station of the high-speed railway project and the existing North-South expressway through Phuoc An commune, Tuy Phuoc district.
Sẵn sàng làm đường sắt tốc độ cao- Ảnh 2.
Perspective of Ngoc Hoi complex (Hanoi) belonging to the North-South high-speed railway project.
Therefore, the province recommends that when implementing the next steps, the relevant agencies work specifically with the locality on detailed design research plans to minimize the impact of overlap on the province's projects and works.
According to the leaders of Binh Dinh province, the two stations located at the two ends of the province are very favorable for the future development of the locality. After agreeing on the route and receiving the markers, the locality will immediately start land acquisition.
"First, the locality will propagate and mobilize people to understand and agree. Then, we will immediately establish land acquisition and clearance committees in the districts. We have experience when implementing the North-South expressway.
The station located in Hoai Nhon town will help the locality stimulate tourism in the northern region of the province, while the southern station will promote tourism and socio-economic development of Quy Nhon city and An Nhon city in the future," Mr. Hoang shared.
According to Mr. Hoang, along with the North-South expressway that will be put into operation at the end of next year, Binh Dinh expects the high-speed railway to be a great driving force to help the locality make a breakthrough.
The province is currently building connecting routes to the highway and later railway stations to create a seamless situation.
In Quang Ngai, the station location is determined in Quang Phu ward, Quang Ngai city and Nghia Ky commune, Tu Nghia district.
Most of the land around the station construction area is agricultural land, a small amount is residential land with houses but quite sparse.
In this area, Quang Ngai province also included in the planning a bidding process to select investors to build residential and urban area projects to create momentum to promote the development of the western part of the city.
Director of Quang Ngai Department of Transport Nguyen Phong said that the province will study and adjust and add more traffic infrastructure projects and projects in addition to the projects already in the planning of Quang Ngai city.
"The proposed location for the station is quite open, close to the North-South expressway and existing traffic routes, so it will open up great opportunities for the province's development," said Mr. Phong.
Hanoi allocates 250 hectares to build Ngoc Hoi complex
The high-speed railway project on the North-South axis through Hanoi is about 27.9km, the route from Ngoc Hoi station basically follows the planning corridor; at the end of Phu Xuyen district, the route splits to the East to avoid Dong Van industrial park in Duy Tien district, Ha Nam province.
Hanoi plans to reserve about 250 hectares for the Ngoc Hoi complex to fully function as a national and urban hub station.
In terms of scale, Ngoc Hoi passenger station is oriented as a hub station in the North, where all trains stop.
In Nguyen Trai and Van Phu communes (Thuong Tin district), Thuong Tin freight station will be located, which is the southern freight hub of Hanoi. The scale will be calculated in the next steps of the project.
Regarding connectivity, in Ngoc Hoi area, a fully planned and synchronized traffic system is planned: Ring Road 3.5, Ring Road 4, National Highway 1, 3 urban railway lines and bus system, square to meet the needs of taxis and private vehicles. At the same time, it connects 4 national railway lines.
Mr. Do Viet Hai, Deputy Director of Hanoi Department of Transport, said that Hanoi highly agrees with the proposal in the pre-feasibility study report because this is the optimal route for Hanoi.
Calling for investment, preparing for resettlement
Speaking with Giao thong Newspaper, Mr. Nguyen Tan Tuan, Chairman of Khanh Hoa Provincial People's Committee, informed that the high-speed railway through Khanh Hoa has a length of 130km, a total clearance area of about 932ha, and a cost of about 7,337 billion VND. It is expected that there will be 1 passenger station in Dien Khanh district and 1 cargo station in Ninh Hoa town.
The province is currently preparing to complete zoning plans, calling for investment in industrial parks along the North-South Expressway, Khanh Hoa - Buon Ma Thuot Expressway, and building TOD urban areas associated with passenger stations in Dien Khanh District. Currently, the projects are in the planning and bidding process.
"Khanh Hoa has experience in site clearance for many projects. The locality is also considering planning resettlement areas to ensure project progress.
The province also wants to have another terminal in Cam Ranh City to exploit the strengths of Cam Lam Airport Urban Area," Mr. Tuan expressed.
According to Mr. Le Huyen, Vice Chairman of Ninh Thuan Provincial People's Committee, with the advantage of being located on the North-South high-speed railway from Nha Trang to Ho Chi Minh City, the province will certainly be one of the localities that will soon benefit from the project.
"The province has included land use planning and route planning management when implementing the site clearance sub-project," said Mr. Le Huyen, Vice Chairman of the Provincial People's Committee.
In Binh Thuan, provincial leaders have surveyed the actual location of the two planned stations. Accordingly, the route and station section through the province is about 156km long.
According to the initial plan, there will be two stations: Phan Ri (Bac Binh district) and Phan Thiet station. Phan Ri station is a passenger station with many functional areas.
According to Mr. Nguyen Hong Hai, Vice Chairman of Binh Thuan Provincial People's Committee, the province has requested relevant departments, branches and Bac Binh district to study planning options for connecting routes, study urban planning associated with high-speed railway stations in Bac Binh district planning, Phan Hoa commune planning, Phan Ri Thanh commune planning...
Regarding traffic connection, the province has proposed to establish an investment project for a connecting route from Phan Thiet city center to Vinh Hao - Phan Thiet expressway.
The province is currently reviewing urban planning, infrastructure, and traffic connections to statio
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