On September 10 in Da Nang, Mr. Le Quang Nam, Vice Chairman of Da Nang City People’s Committee, chaired a working session between the city People’s Committee and DEOCA Group on the investment proposal in Da Nang - Hoi An urban railway project. The project would follow a transit-oriented development (TOD) model and be implemented under a public-private partnership (PPP) framework.

The overview of the working session.

TOD model. Contract structures can be flexible, including a BT contract with payment through land funds and deferred budgets; a BTL contract combining land fund payments with project operation by the investor; or a BOO contract under which the investor would both operate the railway and undertake TOD projects. The last option would be researched with State budget participation if the reciprocal land fund and the TOD area do not offset total investment and operating costs.

Mr. Le Quynh Mai noted that technology and technical solutions for the project implementation are ready, which ensures the project can be completed by 2030. He also added that the research identifies potential extensions to Tam Ky and Chu Lai to form a regional network.

Based on this, DEOCA Group proposed that Da Nang City People’s Committee allow it to prepare the project dossier in accordance with the PPP and railways laws, with the implementation planned to commence in September 2025. The project, which will be carried out under the PPP model based on the TOD study, is designed to be feasible and aligned with the city's development conditions.

The project proposal will be developed in three stages: a preliminary report, mid-term report, and final report. At each stage, the city People's Committee will coordinate with the investor to ensure transparency and effectiveness.

“To achieve the project’s objectives, State management agencies will work closely with investors to determine TOD areas, reciprocal land funds, and potential budget allocations. This is regarded as a key project for the city, with a concrete plan to complete and bring it into operation by 2030, it will address urban transport demand and expand Da Nang’s socio-economic development”, DEOCA Group’s representative stated.

Mr. Le Quynh Mai, Vice Chairman of the Board of Directors of DEOCA Group spoke at the working session.

Participants at the meeting all agreed that DEOCA Group’s detailed research and proposal demonstrate its readiness and thorough preparation to formally undertake this project’s study and implementation.

DEOCA Group has been researching options for this project since 2023. Mr. Le Quynh Mai stressed that the Group has been entrusted with the study and implementation of numerous key national projects. If officially approved to research this project proposal, DEOCA Group is committed to quickly completing the research dossier with the optimal solution for the city.

“We trust that the research results we've developed over the past 2 years, along with the implementation options that we and our partners have developed, will be recognized and associated with DEOCA if they are used for the project”, Mr. Mai added.

During the working session, Mr. Vuong Van Tuong, Vice Chairman of the Board of Directors of KITA Group, emphasized that as one of Vietnam’s leading real estate developers, KITA has partnered with DEOCA on many projects in Ho Chi Minh City and Hanoi. Therefore, he expressed confidence that combining DEOCA’s strength in infrastructure with KITA’s expertise in real estate development would create successful and effective synergies in Da Nang’s urban railway project.

From the banking sector, Mr. Dinh Tien Duc, Director of TPBank’s Thang Long branch, noted that TPBank has accompanied DEOCA Group on several key infrastructure projects with positive results. He affirmed that with its long-term vision and proven capabilities, DEOCA is a trusted partner of TPBank. Therefore, if DEOCA is assigned to prepare the proposal and invest in Da Nang urban railway project, TPBank will continue to partner and support financing to ensure the project stays on schedule.

In his concluding remarks, Mr. Le Quang Nam, Vice Chairman of the city People’s Committee, praised DEOCA Group's thorough preparation and serious research. He affirmed that the city would review the project proposal and select a suitable investor. He stressed that the entire bidding process will be conducted openly, transparently, and in compliance with legal regulations.

Mr. Le Quang Nam, Vice Chairman of the city People’s Committee, delivered his concluding remarks at the meeting.

Trang Hung