Pham Thieu Hoa: A New Era at VinSpeed
Leadership Transition
On October 15, 2025, Pham Thieu Hoa officially stepped into the role of Chief Executive Officer at VinSpeed, a newly established company focusing on railway infrastructure. At the same time, he continues his tenure as chairman of Vinhomes, one of Vietnam’s leading property developers and a subsidiary of the influential Vingroup. This dual role demonstrates Hoa’s commitment to driving growth in both sectors, indicating a strategic vision that interlinks real estate with transportation.
Background of Pham Thieu Hoa
Born in 1963 in Ha Nam province, Hoa has carved a distinguished career path defined by expertise and leadership. He earned a master’s degree in business administration, which laid the groundwork for his future endeavors. His career began at Technocom Group, an instant noodle manufacturer founded by billionaire Pham Nhat Vuong, where he served as deputy director of sales from 2003 to 2005.
Over the years, Hoa climbed the corporate ladder, gathering invaluable experience in various senior management roles within Vingroup’s subsidiaries. His journey within Vinhomes began in February 2018 as deputy CEO for project development. His performance led to his appointment as CEO in 2019 and subsequently as chairman in May 2022.
VinSpeed: Vision and Future Plans
VinSpeed, founded by Pham Nhat Vuong in May 2025, is positioned as a key player in Vietnam’s railway infrastructure landscape. The company’s focus is not only on construction but also the production of locomotives and carriages, marking a significant expansion into a vital sector for Vietnam’s growth.
As a substantial shareholder, Vuong holds 51% of VinSpeed, while his two sons each own 1%. The rest of the shares are divided between the Vietnam Investment Group (35%) and Vingroup (10%). Currently, the company boasts a charter capital of VND 15 trillion ($569.52 million), demonstrating significant financial backing for its ambitious projects.
Strategic Acquisitions
In a move that highlights VinSpeed’s growth strategy, the company plans to acquire 243.4 million shares of Vingroup from Hung Long Real Estate Management and Investment JSC. This merger will allow VinSpeed to hold 378.1 million VIC shares, equivalent to 9.77% of Vingroup’s outstanding shares. Such acquisitions are designed to strengthen VinSpeed’s position and enable it to leverage Vingroup’s extensive resources for its initiatives.
Hung Long Real Estate, previously known as VMI Real Estate Management and Investment JSC, was also founded by Vuong in 2022. It’s known for pioneering a fractional real estate investment model, primarily focusing on properties within the Vingroup ecosystem.
High-Speed Railway Project
An ambitious feature of VinSpeed’s future plans includes a proposal to invest in Vietnam’s North-South high-speed railway project. This mega project is estimated to require an investment of VND 1,562 trillion ($60.24 billion) and is scheduled for completion by 2030. VinSpeed has pledged to mobilize 20% of the total investment capital, amounting to $12.27 billion.
To cover the remaining 80%, VinSpeed proposes to secure financing from the state budget through zero-interest loans that would be repayable over a 35-year period following disbursement. This strategy showcases VinSpeed’s commitment to participating in transformative infrastructure development while navigating complex funding mechanisms.
Conclusion
Pham Thieu Hoa’s new role at VinSpeed marks a significant moment not only in his career but also for Vietnam’s transport infrastructure sector. With a solid background, strategic acquisitions, and an ambitious project pipeline, VinSpeed under Hoa’s leadership is set to forge a new path that could reshape the future of rail travel in Vietnam.