Russia's Uralvagonzavod (UVZ) has proposed a joint venture company in Vietnam to manufacture 2,000 train carriages annually.

The proposal came after Vietnam approved a plan for rail transport development, which has drawn the attention of Russian experts, particularly from UVZ, according to the Russian Ministry of Economic Development.

The Ministry has pledged UVZ will invest significant funds into the project. The firm began making railroad cars in 1936.-VNA