Siemens Mobility and Vietnamese rail developer VinSpeed have signed a turnkey contract worth up to €1 billion (about US$1.14 billion) to develop two high-speed rail lines in Vietnam, marking a major step in the country’s plans to expand modern rail transport.
The agreement covers the 121-kilometre Hanoi–Quang Ninh line and the 54-kilometre Ben Thanh–Can Gio line in Ho Chi Minh City. VinSpeed will handle project development, track construction and civil works, while Siemens Mobility will provide the rail technology and technical expertise.
Siemens Mobility will supply 10 Velaro Novo high-speed trainsets for the two routes, along with communications, electrification and signalling systems. The trains are designed to reach speeds of up to 350 km/h and use Siemens technology intended to reduce energy consumption while increasing passenger capacity.
The Hanoi–Quang Ninh route will feature four stations, while the Ben Thanh–Can Gio line will have two stations under the current plans. The agreement builds on a broader strategic partnership and technology-transfer deal signed by Siemens Mobility and VinSpeed in December 2025.
The partnership comes as Vietnam accelerates investment in high-speed rail and urban transport infrastructure. VinSpeed, a member of Vietnamese conglomerate Vingroup, has been developing its role in the country’s railway sector, while Siemens has positioned its Velaro Novo platform as part of the technology package for Vietnam’s emerging high-speed network.
The latest contract does not mean both lines will immediately enter full commercial operation. Development and construction will proceed in phases, with the companies working on the infrastructure, rolling stock and systems required for the planned services.
The deal places Siemens technology at the centre of two of Vietnam’s high-profile rail projects and could further expand the country’s use of high-speed rail as it develops its transport infrastructure.
