Vingroup proposes high-speed railway to connect Hanoi and Ho Chi Minh City
Vingroup, Vietnam's largest conglomerate, has proposed building the country's high-speed railway between Hanoi and Ho Chi Minh City. The $61 billion project, spearheaded by newly formed Vinspeed, aims to complete the 1,500km line by 2030, five years ahead of the government's schedule. Vinspeed will contribute 20% of the capital and seeks a zero-interest state loan for the remainder, excluding land clearance costs. The proposal, welcomed by government agencies, promises to boost infrastructure, attract foreign investment, and reduce travel time between the two cities from 30 hours to five.
