Minister of Construction Tran Hong Minh expressed his pleasure in observing that the cooperative relationship between Vietnam and the Republic of Korea has continuously developed and achieved remarkable results since the establishment of diplomatic ties in December 1992.

At present, Korea is the largest foreign direct investor (FDI) in Vietnam, the second-largest bilateral provider of official development assistance (ODA), and Vietnam’s third-largest trading partner.

The Minister also noted that Korea was one of the first countries in Asia to research, invest in, and operate high-speed rail systems.

Korea also serves as a model in the transfer and mastery of high-speed rail technology, achieving a localization rate of over 90% in the production of locomotives and carriages.

Minister Tran Hong Minh expressed his appreciation to the Korean side for its interest in the North-South High-Speed Railway project and willingness to share relevant experience with Vietnam.

The Minister expressed his hope that, in the time ahead, relevant Korean agencies would continue to share their experience in acquiring and mastering high-speed rail development technologies, advancing the railway industry, and organizing the operation of freight transport on high-speed railway.

Regarding the proposed cooperation in smart city development, the Minister appreciated Korea’s strong expertise in this field and noted that Korea has supported and financed several smart city development programs and projects in Vietnam.

The Ministry of Construction welcomes and encourages Korean enterprises to invest in urban development projects in Vietnam and recommends that companies proactively engage with local authorities regarding specific projects.