Prime Minister Phạm Minh Chính meets with CRCC Chairman Dai Hegen. — VNA/VNS Photo Dương Giang
Prime Minister Phạm Minh Chính worked with leading Chinese companies in infrastructure and energy fields to promote cooperation between the two countries.
PM Chính is on a four-day trip to China to attend the 8th Greater Mekong sub-region (GMS) Summit, the 10th Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS) Summit, and the 11th Cambodia-Laos-Myanmar-Việt Nam (CLMV) Cooperation Summit.
On Wednesday in Kunming City, Yunnan Province, he stressed that the friendly neighbourly relations between Việt Nam and China are booming. The PM urged enterprises from both sides to strengthen cooperation to realise high-level agreements, promote the comprehensive strategic cooperative partnership and build a China – Việt Nam Community with a shared future that carries strategic significance.
He called on Chinese companies to increase investments in Việt Nam through specific projects and provide support in finance, science and technology transfer, human resources training and governance to drive the development of Vietnamese partners, and enable them to participate more deeply in global supply chains.
Việt Nam is promoting three strategic breakthroughs in improving institutions and the legal framework, developing infrastructure and improving the business environment with the motto of building an open mechanism, smooth infrastructure and smart governance, PM Chính said, stressing that Việt Nam will strive to create the most favourable conditions for Chinese investors to invest and do business effectively and sustainably in Việt Nam.
Working with China Railway Construction Corporation (CRCC), PM Chính welcomed CRCC’s plan of expanding investment in Việt Nam, affirming that the Vietnamese government will provide support to ensure the corporation’s successful and sustainable business in the country.
The PM asked CRCC to study and make specific proposals for its investment projects in Việt Nam, firstly the Lào Cai – Hà Nội – Hải Phòng railway project connecting with Kinming, Yunnan to implement the 'Belt and Road Initiative' and promoting the development of border provinces.
He also urged CRCC to study participation in other major infrastructure projects in Việt Nam such as Hà Nội – Lạng Sơn, Hải Phòng – Móng Cái (Quảng Ninh) railways as well as expressway projects connecting border provinces of Việt Nam with China and the North-South Expressway.
In response, CRCC Chairman Dai Hegen said that CRCC is interested in participating in railway, urban metro and other infrastructure projects in Việt Nam.
With regard to the railway project of Lào Cai – Hà Nội – Hải Phòng connected with Kunmming and Yunnan, he said that CRCC is working with Vietnamese partners on the project’s pre-feasibility study report, ready to participate in the project.
He expected procedures to be simplified so that the project can be started in December 2025.
Working with China Huadian Corporation, PM Chính urged the corporation to increase investment cooperation with Việt Nam in clean energy and electricity distribution.
Việt Nam is an important market for Huadian with a total investment of US$2.8 billion so far, with Duyên Hải No 2 being a major investment project of Huadian in Việt Nam. The wind power project in Đắk Lắk is also the first onshore wind power project of Huadian in a foreign country.
Huadian wanted to increase investments in Việt Nam in wind power, green hydro, power storage, upgradation of the power system and energy efficiency, expecting the Vietnamese Government to early issue policies for the development of green energy.
While highly appreciating the investments of Huadian in Việt Nam, PM Chính urged the corporation to increase investments, enhance cooperation and promote transfer of technology and governance experience sharing with Việt Nam.
He also called on Huadian to study cooperation opportunities in prioritised sectors of Việt Nam such as the establishment of energy industry centres, processing and manufacturing hubs, the energy equipment manufacturing industry and development of human resources for the energy sector.
At the same time, PM Chính worked with Energy China Group, which is implementing 16 projects in Việt Nam with a total investment of $2.2 billion.
Energy China expected Việt Nam to have an appropriate electricity pricing mechanism and expressed hope to participate in developing green development and low-emissions solutions in Việt Nam such as LNG power, offshore wind power and transport projects.
Prime Minister Phạm Minh Chính with Zhang Deliang, deputy chairman of Energy China. — VNA/VNS Photo Dương Giang
PM Chính highly appreciated Energy China’s effective and sustainable investments in Việt Nam, as well as the corporation’s plan for investment expansion in the country.
He said that Việt Nam is actively developing policies on energy and infrastructure development in line with the country’s socio-economic development and international treaties that Việt Nam has signed.
The PM asked Energy China to increase investments in energy in Việt Nam, especially wind power, solar power, LNG power, pump–storage hydropower and transport infrastructure developments.
Việt Nam always accompanies, supports, and creates favourable conditions for Chinese enterprises to invest and do business successfully and sustainably in the country, the PM stressed.
China’s investment in Việt Nam increased from $2.92 billion in 2021 to $4.47 billion in 2023.
China is the second largest investor in Việt Nam in the first 10 months of this year with a total investment of $3.61 billion, accounting for 13 per cent of the total foreign investment in the country in the period and up five per cent. — VNS