HÀ NỘI — Six of Việt Nam's largest private conglomerates are splashing nearly VNĐ4.9 quadrillion (US$200 billion) across 40 major projects, underscoring the growing role of the private sector in driving the country's infrastructure, industrial and urban development.

According to a recent report by BIDV Securities (BSC), these projects span residential and urban developments, airports, expressways, high-speed rail, industrial facilities and other strategic infrastructure.

Property developer Vingroup accounts for the largest planned investment, with 12 projects worth totally VNĐ2.3 quadrillion.

Sunshine Group ranks second with five projects worth about VNĐ818 trillion.

Other major investors include Sun Group, with ten projects worth VNĐ457 trillion, THACO with five projects worth VNĐ342 trillion, Masterise Group with three projects worth VNĐ232 trillion, and Hòa Phát Group with four projects worth VNĐ12.5 trillion.

There is also a joint project between THACO and Hòa Phát with an estimated investment of around VNĐ714 trillion.

BSC noted that the report excludes approximately VNĐ1.5 quadrillion earmarked for five metro lines in Hà Nội, as those projects are financed with State capital.

It also excludes several Masterise and MIK Group property developments as information is unavailable, as well as projects still at the proposal stage.

Real estate is the sector which attracts the largest share of planned private investment. Vingroup alone is expected to invest nearly VNĐ1.9 quadrillion in property projects, while Sunshine Group plans VNĐ818 trillion.

A consortium involving THACO, Đại Quang Minh and Hòa Phát is expected to invest nearly VNĐ737 trillion while Sun Group plans around VNĐ392.5 trillion in real estate.

The companies are also expanding into transport infrastructure and industry.

Vingroup plans to invest about VNĐ224.5 trillion in high-speed rail projects, more than VNĐ105 trillion in energy and VNĐ80 trillion in steel production.

Masterise and Sun Group are pursuing airport projects valued at approximately VNĐ196 trillion and VNĐ8.5 trillion, respectively.

Sun Group also plans to invest more than VNĐ25 trillion in expressways, while Masterise is developing bridge projects worth around VNĐ35 trillion.

BSC said the investment plans are expected to boost credit demand and could make banks among the main beneficiaries in 2027, as large private corporations seek financing for capital-intensive projects.

However, the concentration of lending to a small number of conglomerates and mega-projects could increase credit concentration risks for the banking sector, BSC warned. — VNS