Vingroup CEO: If VinSpeed Directly Invests in North-South High-Speed Rail, the State Won’t Worry About Cost Overruns or Delays

During a meeting with Deputy Prime Minister Nguyen Hoa Binh, CEO of Vingroup, Nguyen Viet Quang, expressed VinSpeed’s desire to invest in the North-South high-speed rail project with a total investment of over 61 billion USD, proposing to borrow 80% of the capital from the State at zero interest over 30 years. With construction expected to take 5 years, VinSpeed is committed to complying with regulations, investing in modern technology, and training human resources while ensuring no cost overruns or delays occur. He emphasized that if VinSpeed invests directly, the State would only need to lend 80% of the capital instead of funding 100%, thus recovering money faster and enabling earlier system operations, stimulating the economy and improving citizens’ livelihoods. VinSpeed, established in 2025, has increased its capital to 33 trillion VND and submitted an investment application for the North-South rail project, aiming to complete it by 2030.