On September 9, Vietnamese Deputy Prime Minister Ho Duc Phoc met with leaders from THACO and Hyundai Rotem (South Korea) to discuss cooperation plans for developing Vietnam's high-speed rail industry. This is seen as an important step in modernizing transportation infrastructure to support sustainable economic growth in the new period.

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Vietnamese Deputy Prime Minister Ho Duc Phoc alongside THACO and Hyundai Rotem leaders (Source: VGP)

At the meeting, Deputy Prime Minister Ho Duc Phoc emphasized that developing modern infrastructure systems, especially high-speed rail, is one of the key factors helping Vietnam achieve double-digit growth targets, alongside digital transformation, green development and innovation.

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THACO Chairman Tran Ba Duong shares prospects for cooperation with Hyundai Rotem in urban rail development (Source: VGP)

THACO Chairman Tran Ba Duong presented the company's investment plans for urban rail and high-speed rail sectors. According to him, participating in railway infrastructure development is not only strategic for THACO but also contributes directly to Vietnam's industrialization and modernization process.

Hyundai Rotem CEO Lee Yong-bae said Vietnam has great potential to build a modern railway system that could drive economic growth. He expressed hopes that Hyundai Rotem would become a strategic partner, working alongside Vietnam in this field.

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The meeting between Vietnamese Deputy Prime Minister and THACO, Hyundai Rotem leaders (Source: VGP)

Hyundai Rotem has nearly 50 years of experience, from manufacturing high-speed trains, locomotives, rail cars and signaling systems to maintenance services. Notably, the South Korean corporation is also a pioneer in researching and applying hydrogen-powered train technology, opening up trends for green transportation in the future. Their representatives expressed readiness to participate in developing Vietnam's high-speed rail system through technology transfer, comprehensive solutions for workforce training, local production, maintenance and operating cost optimization.

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Deputy Prime Minister Ho Duc Phoc praises Hyundai Rotem's cooperation and technology transfer proposals (Source: VGP)

During the meeting, the Deputy Prime Minister asked specific questions about train design speeds, operating costs, component and parts manufacturing capabilities, and control signaling systems. Representatives from Hyundai Rotem and THACO provided detailed answers with practical evidence from international projects.

Speaking at the meeting, the Vietnamese Deputy Prime Minister praised Hyundai Rotem's cooperation proposal, especially regarding technology transfer and developing domestic resources. He also confirmed that Vietnam's Government always supports and facilitates Korean companies to expand cooperation and long-term, effective production and business investments, contributing to promoting bilateral relations. He also suggested THACO work with the Ministry of Construction to present the overall concept, ensuring coordination from design, production, control signals to operation and maintenance.

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The urban train car model produced by THACO displayed at the Economic-Social Development Achievements Exhibition

Besides the North-South high-speed rail project, THACO also proposed investing in many other key infrastructure projects, including Metro Line 2 in Ho Chi Minh City, the Thu Thiem-Long Thanh railway line connecting Long Thanh International Airport, and a 100-km-long Light Rail Transit (LRT) line in Da Nang connecting Hoi An and Chu Lai. These strategic projects not only strengthen transportation connections but also open development corridors for tourism, services, urban real estate and industrial production.

With support from the Korean partner and strong determination, THACO hopes to contribute to bringing Vietnam's railway industry into a more advanced, synchronized, and sustainable development phase.