New era begins for nation's railways

Vietnam's railway industry is entering an unprecedented phase defined by a rising wave of private sector ambition in future initiatives.

- By Bich Thuy

The private sector is getting more involved in rail development in Vietnam

Private investors are circling the railway sector with a new approach of working together to compete with international rivals. In mid-April, private-run tech group FPT disclosed that it is developing new technologies for the railway industry. From this year, FPT is to shift towards a technology-driven business model, focusing on areas such as quantum AI, cybersecurity, unmanned aerial vehicles, and data.

Pham Minh Tuan, deputy general director of FPT, said that Vietnam is planning to implement almost 40 projects related to urban rail and high-speed rail. FPT's involvement aims to tap into a potential business segment, but also carry the responsibility of ensuring absolute cybersecurity for the country's backbone system.

FPT chairman Truong Gia Binh added, "We discussed with heads of major corporations such as a former chairman of Coteccons, chairman of the board at Hoa Phat, and chairman of Dai Dung Group, and we all share a common dream: when Vietnam implements projects, each side will take on its own strengths. FPT will handle the part of software and control."