Decree No. 319/2025/ND-CP has recently been issued by the government, detailing the promotion of science and technology development in the railway sector. This decree opens up opportunities for companies like Hoa Phat, Vingroup, and Thaco to participate in the 100 billion USD railway market, which includes the North-South high-speed railway and urban railways. To be selected as a technology transfer unit, businesses must meet criteria regarding material capacity, financial resources, and human resources. Hoa Phat, with its capacity to produce high-quality rail steel, and Vingroup, able to manufacture train cars and leverage technology in operations, are prominent candidates. Thaco is also collaborating with Hyundai to produce electric trains. Both Viettel and EVN are positioned to provide technology and infrastructure for the projects. Through Decree 319, Vietnam aims to build a robust railway industry, helping to reduce import dependency and create hundreds of thousands of jobs.
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