Vingroup Withdraws from North-South High-Speed Rail Project to Focus on Major Developments in Vietnam
Vingroup has withdrawn from the North-South high-speed rail project to focus on eight major developments in Vietnam, including a sports urban area in Hanoi and the Ben Thanh-Can Gio metro line in Ho Chi Minh City, with a combined cost exceeding VND1.75 quadrillion (US$66.5 billion). The sports urban area alone is set to cost VND925 trillion and will feature a 135,000-seat stadium expected to be completed by 2028. In addition to domestic projects, Vingroup is also pursuing international ventures, including electric vehicle production in India and Indonesia.
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Vingroup is withdrawing from the North-South high-speed rail project to concentrate on eight other approved projects, including a sports urban area in Hanoi and the Ben Thanh-Can Gio metro line in Ho Chi Minh City. These projects are projected to cost over VND1.75 quadrillion (US$66.5 billion), which is nine times Vingroup's revenues in its best year (2024) and about 15% of Vietnam's 2024 GDP.
The sports urban area is expected to cost VND925 trillion and host major international events, featuring a 135,000-seat stadium scheduled for completion in 2028. Other initiatives include the Hanoi-Quang Ninh high-speed railroad and two wind power plants in Ha Tinh.
Vingroup is also involved in international projects, including electric vehicle production in India and Indonesia. The company reported VND7.56 trillion in post-tax profits in the first nine months of 2025.
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