Vietnam is aiming to develop its domestic railway industry with the introduction of a decree, issued in the middle of December, which sets rules for local firms to receive technology and manufacturing contracts for major rail projects. The decree marks a shift from the previous reliance on foreign contractors, allowing domestic companies to compete directly for high-value work.

Over the next 20 years, Vietnam plans to spend up to US$64 billion on a high-speed rail line from north to south, with technology and equipment, including trains, carriages, signals, and tracks, accounting for up to 40% of costs. Including urban rail projects in Ha Noi, Ho Chi Minh City, and other cities, the total investment is expected to exceed US$100 billion through 2050.