On the afternoon of June 25, continuing the 9th Session, the Government submitted to the National Assembly the additional form of investment for the North-South high-speed railway project.
In the submission to the Government to the National Assembly, the Government proposed that the National Assembly approve the addition of other forms of investment (such as: investment under public-private partnership - PPP, business investment...) to the high-speed railway project on the North-South axis, in addition to the form of public investment in the Resolution of the 9th session.
The Government will select investment forms and investors according to regulations; in case there are other mechanisms and policies beyond its authority, report to the National Assembly. According to the Government, the North-South high-speed railway project was approved by the Politburo in principle for investment in the form of public investment and the National Assembly approved the investment policy and form of public investment in Resolution 172 dated November 30, 2024.
At this time, no investor is interested or proposes to invest in the project. However, after Resolution 68 on breakthroughs in private economic development was passed, during the project implementation process, the Government received investment proposals for projects from a number of investors.
Specifically, according to the document sent to the Prime Minister on May 6, VinSpeed Company proposed to invest in the North-South high-speed railway by direct investment, not through PPP or public investment.
VinSpeed commits to self-arranging 20% of the capital (about 12.27 billion USD), the remaining 80% (about 49 billion USD) proposes that the State lend without interest for 35 years. The company commits to repaying the debt in full and on time.
VinSpeed also proposed that the State carry out site clearance and hand over clean land for the company to implement the project.
The company also recommended being appointed as the investor of urban areas and real estate around the high-speed railway station and proposed many preferential mechanisms: exemption of equipment and vehicle taxes; operating period of 99 years; ticket prices are 60-70% lower than the ceiling price of air tickets...
About three weeks later, Truong Hai Group ( Thaco) also sent a document proposing to invest in a high-speed railway line with a total amount of more than 1.5 million billion VND (about 61.35 billion USD), excluding compensation and resettlement costs - this part Thaco proposed to separate into a separate project implemented by the State.
Thaco said it will contribute 20% of total capital, equivalent to nearly 12.3 billion USD, the remaining amount of about 49 billion USD will be borrowed from domestic and foreign financial institutions.
The enterprise requested the Government to guarantee and support all loan interest for 30 years. Thaco will establish a project company, keep controlling shares, and not transfer shares or exploitation rights to foreign investors.
