The company’s chief technology officer and chief strategy officer Peter Keotre made the offer to Prime Minister Pham Minh Chinh on Wednesday on the sidelines of the 16th Annual Meeting of the New Champions hosted by the World Economic Forum in Tianjin, China.

Prime Minister Pham Minh Chinh (R) meets with Siemens' Chief Technology Officer and Chief Strategy Officer Peter Keotre in China on June 25, 2025.

Siemens, which has interests in industry, infrastructure, transportation, and healthcare, is at the forefront of industrial AI, reported revenues of EUR75.9 billion (US$89 billion) last year.

Since entering Vietnam in 1993 it has maintained offices in Hanoi, Da Nang and HCMC and a manufacturing facility in Binh Duong Province.

Chinh praised Siemens’ global operations and its contributions in Vietnam, adding that he welcomed the company’s ambition to deepen its investments, particularly in infrastructure projects like the North-South high-speed rail.

The rail project, approved by the National Assembly in November 2024, is expected to cost VND1.7 quadrillion (US$67 billion).

The 1,541-km route will connect Hanoi with HCMC and pass through 20 provinces and cities.

Several other foreign companies have also expressed interest in the project.

Domestic companies like VinSpeed, founded by Vietnam’s richest man Pham Nhat Vuong, and automaker Thaco have also offered to invest in it.

Beyond the high-speed rail, Vietnam is looking at expanding rail links with China to facilitate routes to Central Asia and Europe.

Chinh called on Siemens to collaborate with relevant ministries and other agencies and the Vietnam Railways Corporation to explore participation in these projects.

He said Vietnam considers infrastructure development one of the key drivers of growth and his government is considering public-private partnership models to attract investment in critical national projects, particularly in transportation, energy and digital infrastructure.

The infrastructure plans encompass road, rail, air, and sea, he said.

He highlighted recent institutional reforms, saying the government has introduced open mechanisms and policies to offer broader investment opportunities to businesses.

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