Siemens (Xetra: SIE) is interested in Vietnamese investment opportunities in many different areas, including public transportation, power efficient buildings, traffic management, and energy generation.
Ronald Busch, who is a part of the company’s managing board and the CEO of Siemens Infrastructure and Cities, told VIR that Siemens is “finding more partners and will not miss any investment and business opportunities in Vietnam” during the World Cities Summit in Singapore.
A recent study that Siemens commissioned from Credo, a consulting firm located in the U.K., showed that if 35 different cities around the world implemented transportation systems using “best in class” standards, the economic benefits could be as high as US$238 billion by 2030.
Siemens has already invested heavily in Vietnam. They are currently coordinating with Vietnamese partners on the construction of Ho Chi Minh City’s US$1.2 billion Metro Line 2, which will include 11 stations and is planned to be complete in 2016. The line will pass through the busiest part of Vietnam’s largest city and could handle up to two million passengers every day.
“Currently, the city has a population of around 10 million people and still lacks a mass transit system. Public transport and an intelligent traffic management system are keys to resolving this dilemma” stated Andreas Mehlhorn who is the head of head of the company’s IT Solutions, Mobility and Logistics division.
Siemens has already worked on many public transportation systems around the world, including those in the nearby Southeast Asian cities of Bangkok and Singapore.
In addition, Siemens operates a factory in the province of Binh Duong which creates busbar trunking systems that are exported to over 50 countries and is also part of the development of power plants that will generate a combined 2970MW. Siemens’ technologies are used in many industries in Vietnam such as those related to food and beverage, healthcare, manufacturing and steel.