VinSpeed has officially registered to invest in the North-South high-speed rail project with an estimated investment of 1,562 trillion VND (approximately $61.35 billion). VinSpeed commits to providing 20% of the capital, equivalent to 312.33 trillion VND, while proposing to borrow the remaining 80% from the government at zero interest for 35 years. The project aims to begin construction by December 2025 and be completed by December 2030. VinSpeed will collaborate with countries with advanced rail industries such as China, Germany, and Japan for technology transfer and training staff. To support state debt repayment, VinSpeed will develop urban areas using a Transit Oriented Development model near railway stations. According to Deputy CEO Dao Thuy Van, this project reflects the determination of Vietnam’s private enterprises, despite facing many challenges.
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