The Government of Vietnam is preparing to launch several major railway infrastructure projects by 2035, expected to generate USD76 billion for construction and USD34 billion for equipment markets. Key among them are the North-South High-Speed Railway and the Lao Cai – Hanoi – Hai Phong Railway, with the latter set to begin construction in late 2025. Domestic firms are expected to handle up to 95 per cent of construction work, provided mechanisms such as direct contractor appointments and reduced bidding package sizes are introduced to match local capacity.
The Ministry of Construction aims to enable Vietnamese companies to lead infrastructure works, while technology-heavy components such as rolling stock and signalling may involve state enterprises and foreign partnerships. By 2030, the government targets mastery of sub-160 km/hr rail systems and urban transit projects. Post-2030, Vietnam plans to develop its own rolling stock, control systems, and railway software, supported by a policy framework that includes preferential credit, tax incentives, and human resource training.
Large domestic companies like Hoa Phat, Viettel, and Thaco are already expressing interest in the sector. Officials propose creating a comprehensive industry roadmap linked to national infrastructure goals. Drawing inspiration from China’s hybrid technology adoption model, Vietnam aims to combine international cooperation with local innovation to achieve long-term railway technology independence.
