High and low-resolution optical and near-IR spectroscopy of the candidate proto-planetary (or very young PN) Vy 2-2 (P-K 45 - 2°1) is reported. This object has associated OH maser emission and an angular diameter of only 0.4 arcsec, found from VLA and optical speckle interferometry. Empirical analysis gives the values Ne ≈3 × 105 cm−3, Te=11000(±1500)K. The electron temperature is quite uncertain because of the high density. Abundances of He, C, N, O, Ne and Ar are reported; the carbon abundance is uncertain as it relies on the C II λ4267Å line, since the object is too highly-reddened (c=1.8 ± 0.2) to be observed with IUE. We find He/H=0.10, O/H=4 × 10−4 and C/O=0.8. The HI Zanstra temperature is 38 000 K (for black-body). The spectrum shows broad stellar lines of He II λ4686, C III λ4647 and N III λ4640; the central star may be of type Of.