VinSpeed starts work on Hanoi-Quang Ninh high-speed railway project

VinSpeed High-Speed Railway Investment and Development JSC, an arm of Vietnam’s leading private conglomerate Vingroup, on Sunday broke ground on the Hanoi-Quang Ninh high-speed railway project in Quang Ninh province, northern Vietnam.

The railway will span approximately 120 kilometers, passing through four major localities - Hanoi, Bac Ninh, Hai Phong, and Quang Ninh, with total investment nearing VND160 trillion ($6.07 billion).

The starting point of the route is the Vietnam Exposition Center (VEC) in Dong Anh commune, Hanoi. The train will then run through the Gia Binh station (Bac Ninh province), Yen Tu station (Quang Ninh province), and end at the Ha Long station located in the forest park area, Tuan Chau commune (Quang Ninh).

Designed for speeds of up to 350 km/h, the line will feature a fully electrified double-track system with a standard gauge of 1,435 mm. The project includes five stations and a depot in Ha Long, and is expected to be completed by 2028, after just over two years of construction.

Beyond reducing travel time from two hours to 23 minutes, the railway is expected to boost trade and tourism while creating a high-speed connectivity corridor linking some of the region’s most dynamic economic centers, thereby driving broader inter-regional growth.

Nguyen Viet Quang, vice chairman and CEO of Vingroup, said the project’s high-speed connectivity will help link Hanoi with key industrial, logistics, and tourism hubs, promoting trade, investment, and movement of skilled labor. It will also support more integrated regional development, he added.

Unlike conventional transport projects, the railway is designed not only to improve mobility but also to reorganize regional development space. By directly linking Hanoi, Bac Ninh, Hai Phong, and Quang Ninh, it is expected to form a powerful economic corridor, enabling faster and more efficient resource flows while fostering innovation and economic activity.

Michael Peter, CEO of Siemens Mobility, said the company is committed to a long-term partnership with Vingroup. The two sides will cooperate on technology transfer, as well as train assembly and maintenance, to help develop a completely new high-speed rail ecosystem in Vietnam.

Hanoi, the country’s political and economic center, will be more closely connected with Bac Ninh - an electronics manufacturing hub, Hai Phong - an international seaport gateway, and Quang Ninh - a major tourism and marine economy center, forming a more synchronized and strongly cooperative economic space.

This connectivity will not only enhance the competitiveness of each locality but also create a sustainable network, enabling the northern region to integrate more deeply into the global value chain.

For Quang Ninh in particular, the project represents a major opportunity. As the province aims to become a centrally governed city, the railway is expected to play a key role in unlocking its development potential. Stations such as Yen Tu and Ha Long Xanh are set to evolve into major urban and tourism hubs under a multi-center development model.

The project is also expected to expand space for urban, industrial, and service development, supporting long-term sustainable growth while creating new opportunities for investors and businesses.

Bui Van Khang, Chairman of the Quang Ninh provincial People’s Committee, said the railway will serve not only as a transport link but also as a key driver of regional development, helping to lay the foundation for sustainable growth across northern Vietnam.

VinSpeed was established in May with billionaire Pham Nhat Vuong - chairman of Vingroup (HoSE: VIC) - holding a 51% stake, and his two sons, Pham Nhat Minh Hoang and Pham Nhat Quan Anh, each owning 0.5%.