The Need for a National Scientific Review Council to select a transparent Investor for Vietnam’s North–South High Speed Railway.
The North–South High Speed Railway is a national priority project. With high technological demands and enormous financial scale, the selection of investors must be extremely careful and comprehensive.
Discovery Group and financial and technology partners have conducted extensive research and learned from countries with advanced high-speed rail industries. A successful project requires both a proven financial solution and a reliable, fully tested technology solution.
Establishing a National Scientific Review Council, with the participation of highly qualified international experts, is a suitable approach to ensure safety, objectivity, scientific integrity, and transparency during the investor selection process. For example, an investor may be able to arrange financing but fail to secure an appropriate and proven technology solution, which would pose significant risks, including:
Safety and stability: A train operating at 350 km/h requires a comprehensive, rigorously tested technology system. Without this, safety cannot be guaranteed.
Efficiency and avoiding obsolescence: There are more than 20 countries currently operating high-speed rail systems. While the design speeds range from 300–500 km/h, the typical operating speeds are 250–300 km/h. Some countries even reach 750 km/h. When Vietnam completes this project in about seven years, will 350 km/h still be the right choice? Can the chosen technology be upgraded? Will it ensure long-term safety and efficiency?
Project schedule and feasibility: The timeline of a mega project must align with its real-world feasibility. Strict criteria are essential when selecting investors and monitoring progress.
Fairness and transparency: This is a project that the entire nation places the trust in. People expect a vital, convenient transport corridor connecting key economic regions — without increasing public debt, and contributing to regional and national development.
This project is projected to contribute around 1% to GDP within the target of 8.5% economic growth. To understand the scale: for every 8 units of national output, 1 unit would relate to this project. Many other factors also directly affect the success of the project. Therefore, establishing a National Scientific Review Council is a necessary step to ensure fairness, prudence, and transparency when selecting the investor for this mega project. All participating enterprises must clearly demonstrate the feasibility of their proposals — including financing, technology, implementation capacity, and operations, and must enter the process with the mindset of serving the nation and placing national interests above all else.
Discovery Group hopes that the Government and relevant ministries will make a transparent and objective decision, giving enterprise the opportunity to demonstrate the professionalism, vision, global standard capabilities. We are committed to contributing to a strong and prosperous Vietnam.
