HANOI — China Railway Signal & Communication has signed a memorandum of understanding (MoU) with state-run Vietnam Railways Corp for railway development in the Southeast Asian country, its government said on Wednesday.
Vietnam has approached China for funding and technology for its massive rail development projects, including three railway lines connecting its capital Hanoi with China, and a high-speed railway from Hanoi to southern business hub Ho Chi Minh City.
The agreement between the two companies will pave the way for cooperation in railway planning, construction, training and operations, the government said in a statement.
Deputy Prime Minister Tran Hong Ha on Tuesday said Vietnam wanted to speed up construction of three new railways connecting the two countries.
Last month, lawmakers passed a resolution supporting a US$67 billion project to build a high-speed railway the length of the country that would be operational from 2035.