Pham Thieu Hoa, chairman of Vingroup’s real estate arm Vinhomes, has been appointed CEO of VinSpeed, established in May for executing railroad projects.
The 62-year-old hails from the northern province of Ha Nam and holds a master’s degree in business administration.
From 2003 to 2005 he served as deputy director of sales for Technocom Group, the instant noodle producer founded by Pham Nhat Vuong, which later became Vingroup.
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Vinhomes chairman Pham Thieu Hoa speaks at Vinhomes general meeting in 2025. Photo courtesy of Vinhomes |
He subsequently held leadership positions at the group’s various subsidiaries, became the deputy CEO of project development at Vinhomes in 2018, then CEO and then chairman in 2022.
VinSpeed was founded by Vingroup chairman and Vietnam’s richest man Pham Nhat Vuong in May for railroad construction, rolling stock production and other activities.
Vuong owns 51% of the company, his closely held company Vietnam Investment Group holds 35% and Vingroup has 10%.
VinSpeed has applied to build the North-South high-speed railroad ay a cost of $61.35 billion, equivalent to 13% of Vietnam’s GDP in 2024.
It has offered to bring in 20% of the cost and sought the remaining 80% from the government interest-free over 35 years though experts have opined 70 years should be closer to the mark. It also wants to develop urban areas near railway stations of the project.
