Ho Chi Minh City, 17 June 2026 – Indochine Counsel has advised THACO Group on a landmark agreement with Hyundai Rotem Company (HRC) for technology transfer and localization of metro rolling stock in Vietnam.
This agreement represents a pivotal step in THACO’s urban railway development strategy. It establishes a comprehensive cooperation framework with HRC covering technology transfer, training, localized component production, and assembly of rolling stock in Vietnam. The collaboration is expected to help THACO progressively master advanced technologies, increase localization, and contribute to the Government of Vietnam’s strategic orientation for developing the national railway industry.
By partnering with HRC, THACO strengthens Vietnam’s industrial capabilities, builds a robust domestic technological foundation, and supports the growing demand for modern urban railway systems in the coming years.
Indochine Counsel is honored to have supported THACO in this significant transaction, reinforcing the firm’s commitment to advising on transformative projects that advance Vietnam’s industrial development.
The transaction was led by Managing Partner Dang The Duc, supported by Partner Dang Hoan My and Associate Ngo Dang Loc, with contributions from the firm’s IP & Tech team, including Senior Associate Thai Gia Han, Associate Vu Hoang Ha Thu, and Junior Associate Nguyen Trung Nghia.
Further information on the agreement is available in THACO’s official announcement here: https://www.thacogroup.vn/thaco-va-hyundai-rotem-day-manh-hop-tac-chuyen-giao-cong-nghe-va-noi-dia-hoa-san-xuat-dau-may-toa-xe-metro-tai-viet-nam
About Indochine Counsel
Established in October 2006, Indochine Counsel is a premier commercial law firm in Vietnam, advising international investors, foreign companies, and domestic enterprises on market entry and business expansion in Vietnam and abroad. With more than 45 lawyers and staff across offices in Ho Chi Minh City and Hanoi, the firm provides comprehensive legal services, supporting clients throughout their investment and business development journey. For more information about Indochine Counsel, please visit our website at https://www.indochinecounsel.com.
