Under an agreement between them, Vinhomes will put up 85% of the funds required after VinSpeed secures financing from third parties.

An artist's impression of the Hanoi – Quang Ninh high-speed rail.

Vinhomes' contribution will be capped at 35% of its total assets. The two will jointly develop and operate the 120-kilometer railroad, expected to cost VND150 trillion (US$5.7 billion).

Its construction began in April this year, and once is completed in 2028, it will cut travel time between Hanoi and Ha Long Bay from the current two hours to 23 minutes.

Both Vinhomes and VinSpeed are controlled by billionaire Pham Nhat Vuong, the richest man in Southeast Asia. The latter was established in May 2025 with Vuong personally owning a 51% stake.

Other shareholders include Vietnam Investment Group with 35% and Vingroup with 10%, with Vuong's sons Pham Nhat Quan Anh and Pham Nhat Minh Hoang each owning 1%.

PM attends ground-breaking ceremony of Hanoi’s rental housing, metro line projects

The three rental housing projects include the Phap Van–Tu Hiep new urban area in Yen So ward, the city rental housing development project in Viet Hung ward, and the Him Lam Long Bien mixed-use housing complex. Together, they are expected to provide thousands of apartments, helping to meet growing housing demand among workers, students, civil servants, members of the armed forces, and low- and middle-income residents.

South Korea's Hyundai to help Vietnam build metro trains for 1,024 km rail network

Vietnamese conglomerate Thaco will build metro trains at home using technology from South Korea's Hyundai Rotem, localizing an industry the country has long left to foreign suppliers.

Vietnam Railways, Guangzhou Metro Group sign strategic cooperation deal

Under the joint statement, accelerating cross-border infrastructure connectivity, particularly in railways, road transport and border gates, was identified as a key area of cooperation.

 

Nhon–Hanoi Station metro line to fully adopt electronic identity-based fare gates

During this period, each station will maintain at least one fare gate operating under the old system until January 28 to ensure smooth travel for passengers.

 

Vietnam's Phu Quoc to build $360M metro line linking airport with APEC conference center

Phu Quoc is set to build its first urban rail line, an 18-kilometer metro project designed for speeds of 70–100 kph and costing nearly VND9 trillion ($360 million), with construction expected to begin late this year and finish in 2027.

Hanoi announces adjustments to bus and metro services for National Day rehearsal, celebration

The Hanoi Transport Management and Operation Centre has announced adjustments to bus and metro operations to ensure smooth public transport during the full-dress rehearsal of parade and march (August 29 - 30) and the official celebration of National Day (September 1 – 2).