HANOI — The owner of Vietnamese conglomerate Vingroup has bid to build and operate a government-proposed 1,541-kilometer high-speed railway connecting Hanoi and Ho Chi Minh City that is expected to cost around 1,562 trillion dong ($61 billion).
Vingroup founder Pham Nhat Vuong, the country’s first billionaire, submitted his plan to the government on May 6, the same day Vuong established VinSpeed, a new company he and his family members own alongside Vingroup.
