Business

Hyundai Rotem seeks partnership with Vietnam on high-speed rail development

Deputy Prime Minister Ho Duc Phoc hosted a reception for Chairman of automaker Thaco Tran Ba Duong and CEO and President of the Republic of Korea (RoK)’s Hyundai Rotem Lee Yong-bae in Hanoi on September 9, during which Lee voiced the company’s interest in partnering with Vietnam on high-speed railway projects.

Deputy Prime Minister Ho Duc Phoc (centre) says that the high-speed rail system must be developed harmoniously, from design and track production to signaling, rolling stock, operations, and maintenance. (Photo: VNA)
Deputy Prime Minister Ho Duc Phoc (centre) says that the high-speed rail system must be developed harmoniously, from design and track production to signaling, rolling stock, operations, and maintenance. (Photo: VNA)

Hanoi (VNA) – Deputy Prime Minister Ho Duc Phoc hosted a reception for Chairman of automaker Thaco Tran Ba Duong and CEO and President of the Republic of Korea (RoK)’s Hyundai Rotem Lee Yong-bae in Hanoi on September 9, during which Lee voiced the company’s interest in partnering with Vietnam on high-speed railway projects.

At the event, Phoc laid stress on Vietnam’s priorities as the country is stepping into a new era, including an economic transformation based on science – technology, innovation, digital transformation, green transition, and enhanced labour productivity aiming for sustained double-digit growth.

Modern infrastructure, he stated, is central to this target, with urban and high-speed railways a key priority alongside airports, seaports, and expressways.

THACO Chairman Duong briefed the Deputy PM on the group’s plans to invest in urban railway sector and outlined prospects for cooperation with Hyundai Rotem.

Lee, for his part, highlighted Hyundai Rotem’s nearly 50 years of experience in manufacturing high-speed trains, locomotives, carriages, and signaling systems, and providing maintenance services. He also expressed desire to participate in Vietnam's high-speed rail system development through comprehensive technology transfer for efficient operations, including complete solutions for human resources training, manufacturing localisation, and operational maintenance services.

Speaking highly of the Korean firm’s cooperative initiative, Phoc underscored that an effective high-speed rail system must be developed harmoniously, from design and track production to signaling, rolling stock, operations, and maintenance. He urged the business to present its design concepts to the Ministry of Construction for consideration.

He highlighted the robust cooperation between Vietnam and the RoK over the recent past, stating the Vietnamese Government always supports Korean enterprises to strengthen their presence in the country, helping bolster the bilateral collaboration in the coming time.

Established in 1977 as part of the Hyundai Group, Hyundai Rotem stands as one of Korea's major mechanical engineering enterprises. The company operates in railway sectors, specialising in high-speed rail, locomotives, carriages, and signaling systems. It is also a pioneer in hydrogen-powered train technology./.

VNA
#Hyundai Rotem #high-speed railway projects #Deputy Prime Minister Ho Duc Phoc #Chairman of automaker Thaco Tran Ba Duong Korea (RoK)
Follow VietnamPlus

Vietnam - New era

Related News

See more

Delegates at the signing ceremony (Photo: VNA)

Vietnam, RoK boost micro-business cooperation

Vietnam's young population, dynamic market, and big growth potential are a perfect fit for the strengths that Korean micro-businesses bring in K-brands, technology, and service expertise, said KFME President Song Chi Young.

Cars at a public parking lot in Hai Phong city. (Photo: VNA)

Vietnam's auto sales rise 15%, hybrid, imported vehicles continue to outperform

With auto loan interest rates remaining competitive, stable vehicle supply, and an increasingly diverse product range, Vietnam's automotive market is expected to maintain its growth momentum through the remainder of 2026. SUVs, MPVs, and hybrid vehicles are likely to remain the main drivers of overall market sales.

The MoU signing ceremony between Becamex VSIP Binh Dinh and PV Gas CNG in Gia Lai province on June 26, 2026 (Photo: nhandan.vn)

Gia Lai positions itself as magnet for sustainable investment

Vice Chairman of the provincial People's Committee Nguyen Huu Que said ESG is no longer a communications message or a cost burden, but an essential requirement for accessing global capital. Gia Lai has chosen ESG as a pillar for building new competitive advantages and achieving sustainable development.

Chairman of the Tay Ninh provincial People's Committee Le Van Han delivers remarks at the inauguration ceremony. (Photo: VNA)

Suntory PepsiCo inaugurates 300-million-USD plant in southern Tay Ninh province

Built on nearly 20 hectares at Huu Thanh Industrial Park, the facility is the company's largest and most advanced plant in Vietnam and the biggest production site in Suntory PepsiCo's Asian manufacturing network. The factory has a designed annual production capacity of over 1.24 billion litres and is equipped with highly automated production, filling and warehousing systems.

Ho Chi Minh City inaugurates a UAV postal route linking Can Gio commune and Vung Tau ward on February 12, 2026. (Photo: VNA)

Ho Chi Minh City promotes UAV applications to develop low-altitude economy

With its enlarged development space, Ho Chi Minh City now combines strengths in urban development, industry and services with high-tech agriculture, the marine economy, logistics and diverse ecological areas. These conditions provide an ideal testing ground for UAV applications in urban management, land administration, environmental monitoring, disaster prevention and response, agriculture, logistics and public services.

Workers produce outdoor wooden furniture for export to Europe at the factory of Hong Ngoc Co., Ltd. in Phu Tai Industrial Park, Quy Nhon Bac ward, Gia Lai province. (Photo: VNA)

Vietnam's wood exporters race to stay on growth path

Despite headwinds from Middle East tensions that have pushed up freight and logistics costs, exports of wood and wood products were estimated at 1.53 billion USD in June, lifting first-half export turnover to 8.54 billion USD, up 4.4% from a year earlier, according to the Ministry of Agriculture and Environment (MAE).

Workers make clothes for export to the Japanese market at Hung Viet Garment Company in Hung Yen province. (Photo: VNA)

Vietnam seeks stronger export growth in H2

Despite the encouraging performance, Vietnam's exports remain heavily dependent on a limited number of major markets and product groups, while the domestic value added of many export products remains relatively low because of their reliance on imported raw materials and components.

Hiep Phuoc Industrial Park in Hiep Phuoc commune, Ho Chi Minh City. (Photo: VNA)

Ho Chi Minh City: Industrial, export processing zones attract over 2.6 bln USD in H1

Speaking at the at the city's regular socio-economic press briefing on July 9, Deputy Head of the Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) Tran Viet Ha said that foreign direct investment (FDI) accounted for nearly 1.6 billion USD of the total, including 65 newly licensed projects worth more than 867 million USD and 83 existing projects that added over 707 million USD in registered capital.

Ofer Fohrer, Head of the Export and Investment Promotion Division under the Foreign Trade Administration of Israel's Ministry of Economy and Industry, shares prospects for bilateral cooperation in trade, investment, and high-tech agriculture. (Photo: VNA)

Vietnam, Israel strengthen connectivity in high-tech agriculture

Israeli businesses and experts introduced a wide range of technologies and solutions for sustainable agricultural development, including smart irrigation systems, greenhouse technologies, crop varieties, microbial technologies, post-harvest solutions, aquaculture technologies, and digital transformation in agriculture.