An investment alliance between Vietnam’s Mekolor and the U.S.-based Great USA Inc. has submitted an ambitious proposal to the Vietnamese government, seeking approval to develop the North-South high-speed railway with a commitment of $100 billion in self-financed capital.

In a formal letter addressed to Prime Minister Pham Minh Chinh and Deputy Prime Minister Tran Hong Ha, the Mekolor & Great USA investment alliance expressed its intention to become the direct investor - or participate under any model designated by the State - in the landmark rail infrastructure project.

The proposal outlines a total investment of $100 billion, including $10 billion allocated for operations post-construction and another $10 billion dedicated to compensation and resettlement.

All capital would be sourced independently by the alliance through Great Core Fund and Mekolor Capital, both belonging to the Mekolor & Great USA ecosystem. Notably, the alliance emphasized that it would require no government guarantees, counterpart funding, or special privileges.

“We will comply with and be subject to close monitoring by the State to ensure the project aligns with international standards for high-speed rail and Vietnamese law,” the alliance affirmed, listing a range of commitments to transparency, performance, and technological advancement.

Among its commitments, the alliance pledged to complete the railway within five years of receiving a cleared site and to operate the system for a 49-year term.

An additional $10 billion is earmarked for compensation and resettlement efforts, which the alliance would coordinate in partnership with the government to expedite site clearance.

The investors also promised to collaborate with Vietnamese authorities in selecting strategic partners offering energy-efficient, low-carbon technologies that meet global ESG standards. They vowed to ensure that the system features the most advanced, durable, and safe design available.

In a notable move, the alliance committed to covering all costs related to full technology transfer, including the management, operation, and manufacturing aspects of the rail industry - aiming for end-to-end mastery of international rail standards within Vietnam.

Moreover, 95% of the project’s workforce would consist of Vietnamese personnel. The alliance also pledged to partner with qualified local contractors and suppliers to ensure maximum domestic participation.

In an effort to promote transparency, the investors agreed to cooperate with regulatory agencies on fare-setting mechanisms, subject to independent auditing.

Perhaps most strikingly, the alliance proposed six months of free tickets for all passengers during the initial period of operation.

While not seeking direct government funding or guarantees, the alliance requested special investment incentives, including tax exemptions for the import of machinery, equipment, and transport vehicles essential for the railway's development.

Additionally, they proposed collaborating with the government to develop high-quality satellite urban zones along the rail corridor as part of a broader urbanization strategy.

Mekolor, a private entity established in Vietnam, describes itself as an “economic innovation engine” that aims to redefine the concepts of credit and asset value through blockchain and labor-based valuation systems. It previously drew public attention in 2021 when it attempted to host an online press conference accusing a domestic bank of misappropriating €10 billion - a move blocked by the Can Tho Department of Information and Communications.

Mekolor also filed a €20 billion lawsuit against a UK-based company in a separate high-profile legal maneuver.

Great USA Inc., based in Florida, is presented as the U.S. legal representative for the broader Great Network, responsible for issuing stablecoins like USDG and EURG, and for connecting international investment flows. It also oversees global smart contract systems, asset distribution, and serves as the liquidity and audit gateway for the Great Network ecosystem.

Tam An