Vietnam PM invites Siemens to build urban railway lines
Prime Minister Pham Minh Chinh has asked Siemens AG to research and participate in bidding for urban railway line projects in Vietnam and transfer technology to the country in this area.
Such projects include the Metro Line 2 in Ho Chi Minh City, the Prime Minister told Roland Busch, president and CEO of Germany's Siemens AG, at a meeting in Hanoi on Monday, according to the government's news portal.
Vietnamese Prime Minister Pham Minh Chinh and Siemens AG president cum CEO Roland Busch at their meeting in Hanoi on February 26, 2024. Photo courtesy of the government's news portal.
Chinh noted that Vietnam always attaches importance to deepening relations with Germany in all fields.
"After nearly 50 years of diplomatic ties and over 10 years of establishing a strategic partnership, Vietnam-Germany relations have constantly been cemented, nurtured and developed in all fields, especially in trade and investment.
"The German side highly values the partnership with Vietnam in these two areas, especially after the fruitful visit to Vietnam by German President Frank-Walter Steinmeier in January 2024," the Prime Minister said.
Chinh added that he highly appreciated Siemens's business results in the world and in Vietnam, especially projects in the fields of electricity-gas, mechanical engineering, energy infrastructure, industrial automation and railway development.
In line with the agreements reached between senior leaders, the Prime Minister proposed Siemens promote cooperation in high-tech fields, green transformation, renewable energy, especially wind turbine production, transportation like electric vehicle manufacturing and digital transformation; build a Siemens R&D center in Vietnam; facilitate a partnership with the National Innovation Center; and expand cooperation with Vietnamese technology companies.
Siemens has also been asked to enhance cooperation in human resource training, governance improvement, and development of modern institutions in the above-mentioned fields.
In response, Siemens AG president and CEO Roland Busch praised Vietnam for its great development potential given the country's population of 100 million people and its trained, young workforce.
Busch said he highly appreciates Vietnam's goals in green transformation, climate change response, developing high-tech industries, especially semiconductors, and building transport infrastructure systems, especially railways.
He said Siemens is actively cooperating with the Vietnamese side and wants to continue expanding cooperation and business in the fields the Prime Minister mentioned.
Busch emphasized that the German corporation is interested in the North-South high-speed railway project and can provide solutions for locomotives, carriages, railway signaling systems, and transfer of technology for manufacturing carriages.
Siemens AG, a leading technology corporation, focuses on the fields of industry, infrastructure, transportation and healthcare. With nearly 320,000 employees in more than 200 countries globally, Siemens achieved revenue of €77.8 billion ($84.39 billion) and net profit of €8.5 billion ($9.22 billion) in fiscal 2023.
The group has been present in Vietnam since 1979 with the supply and installation of two industrial steam turbines for Bai Bang Paper Mill. It established a representative office in 1993 and a limited liability company in 2002. The group inaugurated a busbar manufacturing factory in Binh Duong province in 2005.
Siemens cooperates with Vietnam in many fields, especially renewable energy and transportation. The corporation has participated in solar power projects estimated to contribute 1 billion kWh of electricity to the country each year.
It is a leading supplier of effective power transmission solutions, having provided equipment and solutions for protection and automation for hundreds of 110-220 kV transformer stations and dozens of 550 kV stations in Vietnam. The corporation has also promoted automation and digitalization in Vietnam such as helping Saigon New Port maximize productivity and reduce ship clearance time.
Regarding transportation cooperation, Siemens was involved in a project to upgrade and modernize the signal system at Vinh railway station; a project to design and supply 16 diesel locomotives for Vietnam Railway Corporation; a Noi Bai Airport lighting system project; a project to provide automatic cargo handling systems for Tan Son Nhat Airport; and the Ho Chi Minh City Urban Railway project.
In the energy sector, the Ministry of Industry and Trade and Siemens have signed an MoU on infrastructure development in the fields of gas-electricity and renewable energy.
- Read More
Kido seeks buyer for remaining 49% stake in frozen food affiliate
Kido Group (HoSE: KDC), a leading food company in Vietnam, has approved a plan to divest the firm's remaining 49% stake in its affiliate Kido Frozen Food JSC (Kido Foods).
Companies - Fri, October 17, 2025 | 4:25 pm GMT+7
Le Ngoc Quang appointed Danang city's Party chief
Le Ngoc Quang, a Party Central Committee member and Party chief of Quang Tri province, has been appointed Party chief of Danang for the 2025-2030 term - the highest position in the city, central Vietnam's economic hub.
Politics - Fri, October 17, 2025 | 4:17 pm GMT+7
T&T Group seeks to reshape north-central Vietnam’s urban landscape with major projects
Multi-sector conglomerate T&T Group is developing a model eco-urban complex in Ha Tinh province and plans to build a massive 236-hectare urban area in neighboring Nghe An, with an aim to reshape north-central Vietnam's urban landscape.
Investing - Fri, October 17, 2025 | 2:44 pm GMT+7
Toyota plans $359 mln plant expansion in northern Vietnam
Toyota Motor Vietnam (TMV) plans to invest about VND9.46 trillion ($359.2 million) in the first phase of its plant expansion project in Phu Tho province.
Investing - Fri, October 17, 2025 | 2:09 pm GMT+7
PVI Insurance sees 9-month profit before tax more than doubling
PVI Insurance has reaffirmed its position as the No. 1 non-life insurer in Vietnam, with total revenue increasing nearly 1.4 times in the first nine months of 2025 and pre-tax profit more than doubling year-on-year - surpassing its full-year targets for both revenue and profit.
Companies - Fri, October 17, 2025 | 9:08 am GMT+7
Vingroup to develop 4,600ha coastal urban project in northern Vietnam
A consortium of Vingroup (HoSE: VIC) and its real estate arm Vinhomes (HoSE: VHM) will develop a 4,600-hectare coastal urban complex in Ha An ward, Quang Ninh province, following local authorities’ approval of a zoning plan.
Real Estate - Fri, October 17, 2025 | 8:30 am GMT+7
Indonesia resumes int’l carbon trading after 4-year hiatus
Indonesian President Prabowo Subianto has issued a new decree to restart international carbon emissions trading after a four-year hiatus.
Southeast Asia - Thu, October 16, 2025 | 9:23 pm GMT+7
Investors seek 2-year delay for $2.56 bln LNG power project in northern Vietnam, citing equipment hurdles
Investors of a $2.56 billion LNG-fired power plant in Hung Yen province have proposed delaying the project’s commercial operation schedule by two years due to difficulties securing key equipment.
Energy - Thu, October 16, 2025 | 9:04 pm GMT+7
Vietnam to soon raise taxpayers' personal deduction: official
The personal income tax deduction in Vietnam is "very likely" to increase to VND21.7 million ($823,940) per month, including VND15.5 million (588,530) for the taxpayer and VND6.2 million ($235,410) for each dependent.
Finance - Thu, October 16, 2025 | 6:25 pm GMT+7
Business confidence climbs as reforms gain traction amid global headwinds: EuroCham Vietnam
The index climbed to 66.5, surpassing pre-tariffs level and reaching its highest in three years – showcasing resilience and adaptability amid global headwinds and evolving U.S. tariff pressures.
Economy - Thu, October 16, 2025 | 4:36 pm GMT+7
Vietnam's stock market watchdog suspends two Grant Thornton auditors
Vietnam's State Securities Commission (SSC) has suspended two auditors from Grant Thornton Vietnam after determining that the 2024 audited financial statements of Saigon Water Infrastructure Corporation (HoSE: SII) failed to meet required standards.
Finance - Thu, October 16, 2025 | 3:35 pm GMT+7
Law No. 56 a major policy breakthrough for Vietnam's stock market development
The Law No. 56, effective January 1, 2025, is one of the major legal breakthroughs in recent years that will enhance the transparency and operational efficiency of the Vietnamese stock market.
Finance - Thu, October 16, 2025 | 2:30 pm GMT+7
WHA Group breaks ground on smart technology industrial zone in central Vietnam
Thailand's WHA Group on Tuesday broke ground on a world-class, modern, and environmentally friendly industrial zone in central Vietnam, namely the WHA Smart Technology Industrial Zone-Thanh Hoa.
Real Estate - Thu, October 16, 2025 | 2:00 pm GMT+7
Vietnam a key partner in Murphy Oil’s global strategy: exec
Vietnam remains a key partner in Murphy Oil’s global business strategy, said Eric Hambly, the U.S. corporation's president and CEO.
Companies - Thu, October 16, 2025 | 12:06 pm GMT+7
VNPT, Qualcomm debut Vietnam’s 1st original design-based excellence center
State-owned Vietnam Posts and Telecommunications Group (VNPT) and Qualcomm have officially launched the VNPT-Qualcomm Excellence Center (VQEC), the first facility in the country to operate under an original design co-development model using Qualcomm’s core technologies.
Companies - Thu, October 16, 2025 | 8:41 am GMT+7
Indonesia enjoys steady growth in nine months
Indonesia's Ministry of Finance on Tuesday announced the country’s 2025 budget performance as of September, reporting that Southeast Asia’s largest economy continued to post steady growth despite global economic uncertainties.
Southeast Asia - Wed, October 15, 2025 | 9:53 pm GMT+7




















