VOV.VN - With 426 out of 440 votes in favour, the National Assembly passed the amended Railway Law in Hanoi on June 27, permitting the private sector to invest in railway projects.

VOV.VN - The Government has submitted a proposal to the National Assembly, recommending the inclusion of private investment in the ambitious North–South high-speed railway project, a move aimed at broadening business participation in one of the country’s most significant infrastructure undertakings.

Billionaire Pham Nhat Vuong, Chairman of the Vingroup Joint Stock Company (VIC), will contribute an addition of more than 87.5 million Vingroup shares to the VinSpeed High-Speed Rail Investment and Development JSC (VinSpeed), which was established to register to invest in the North-South Expressway project.

The Minister of Construction has requested VinSpeed High-Speed Rail Investment and Development JSC and Truong Hai Group Joint Stock Company (Thaco) to complete documents seeking approval of their proposals to invest in the North-South high-speed railway.

VinSpeed High-Speed Rail Investment and Development JSC on May 14 officially announced its registration to invest in Vietnam’s North–South high-speed railway project, with an estimated investment of VND1.562 quadrillion (or US$61.35 billion), excluding costs related to compensation, relocation support.