- Hyundai Rotem eyes Vietnam’s high-speed railway projects.
- Deputy PM stresses infrastructure, tech, and green growth.
- THACO plans investment in Vietnam’s urban railway sector.
Deputy Prime Minister Ho Duc Phoc welcomed Thaco Chairman Tran Ba Duong and Hyundai Rotem CEO and President Lee Yong-bae in Hanoi on September 9, where Lee expressed the company's interest in collaborating with Vietnam on high-speed railway initiatives.
During the event, Phoc emphasized Vietnam's priorities as it enters a new era, which include an economic transformation driven by science, technology, innovation, digital changes, green shifts, and improved labor productivity, targeting sustained double-digit growth.
He noted that contemporary infrastructure is vital to this goal, emphasizing urban and high-speed railways as crucial priorities along with airports, seaports, and expressways.
THACO Chairman Duong informed the Deputy PM about the group's intentions to invest in the urban railway sector and detailed the potential for collaboration with Hyundai Rotem.
Lee emphasized Hyundai Rotem's almost 50 years of expertise in producing high-speed trains, locomotives, carriages, and signaling systems, along with offering maintenance services. He additionally indicated a wish to engage in the development of Vietnam's high-speed rail system by means of extensive technology transfer for effective functioning, encompassing total solutions for workforce training, manufacturing localization, and operational maintenance services.
Also Read: Japan's Mitsui OSK Targets India for Shipbuilding Projects
Praising the Korean company's collaborative effort, Phoc emphasized that a successful high-speed rail network must be created cohesively, from design and track manufacturing to signaling, rolling stock, operations, and maintenance. He encouraged the company to submit its design proposals to the Ministry of Construction for evaluation.
He emphasized the strong partnership between Vietnam and the RoK in recent times, mentioning that the Vietnamese Government consistently backs Korean businesses in enhancing their presence in the nation, which aids in strengthening bilateral cooperation in the future.
Founded in 1977 as a division of the Hyundai Group, Hyundai Rotem is a prominent mechanical engineering company in Korea. The firm functions within the railway industry, focusing on high-speed trains, engines, coaches, and signaling technologies. It is also a leader in technology for hydrogen-powered trains.