Sovico Group, the founding shareholder of Vietjet Air, has submitted a proposal to the Ho Chi Minh City People’s Committee to invest in the city’s fourth metro line, signaling growing private-sector interest in Vietnam’s urban transit infrastructure.
The proposed Line 4 would span from Dong Thanh in Hoc Mon District to Hiep Phuoc Industrial Park in Nha Be District, playing a vital role in improving connectivity across southern districts and supporting the city’s industrial development zones.
Sovico Group, a diversified conglomerate with assets exceeding VND187 trillion (US$7.18 billion) and a workforce of more than 40,000 employees, plans to leverage its financial strength to support both research and development for the project. The group has a strong presence in sectors including finance, aviation (through Vietjet Air), real estate, and technology, and is also a major shareholder in Vietnam’s private lender HDBank.
This marks the second major private-sector interest in Ho Chi Minh City’s metro development this year. Earlier, Vingroup—Vietnam’s largest private enterprise—proposed funding another line stretching 48.5 km from District 7 to the coastal district of Can Gio.
Ho Chi Minh City’s metro ambitions are taking shape after years of slow progress. Its first metro line, connecting the central Ben Thanh Market to Suoi Tien Theme Park in Thu Duc City, finally opened in December 2024 after more than a decade under construction.
Vietnam’s commercial hub aims to complete 10 metro routes spanning over 510 km by 2045, forming the backbone of a modern, green, and efficient public transportation network to serve its rapidly growing population and urban economy.
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Source: Vietnam Insider