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.

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.

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