Minister welcomes Chinese firm’s plan to expand operations in Vietnam

October 20, 2023 | 10:14

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Minister of Planning and Investment Nguyen Chi Dung has welcomed China Communications Construction Co. Ltd (CCCC)’s plan to expand investment and business activities in Vietnam while meeting a representative of the firm in Beijing on October 19.

Minister welcomes Chinese firm’s plan to expand operations in Vietnam

The Nghi Son - Dien Chau section of the eastern North - South Expressway project under construction (Illustrative photo: VNA)

Hanoi – Minister of Planning and Investment Nguyen Chi Dung has welcomed China Communications Construction Co. Ltd (CCCC)’s plan to expand investment and business activities in Vietnam while meeting a representative of the firm in Beijing on October 19.

The meeting took place on the sidelines of the third Belt and Road Forum for International Cooperation in China, according to the Ministry of Planning and Investment.

Talking to Bai Yinzhan, Director of China Harbour Engineering Co. Ltd (CHEC) – a subsidiary of CCCC, Dung said the CCCC is not only a big contractor but also a strategic investor in Vietnam. The company has also shared experience, trained manpower, and transferred technology to help Vietnam effectively and sustainably develop and manage infrastructure, thus contributing to the two countries’ cooperation in infrastructure development.

The minister also pointed out certain shortcomings in some infrastructure projects carried out by Chinese businesses in Vietnam.

For his part, Bai noted that the CCCC has operated in Vietnam since 1996 and successfully implemented 20 infrastructure and energy infrastructure projects in the country, including Hanoi - Hai Phong Expressway, Cai Mep - Thi Vai Terminal, Vinh Tan thermal power plant, and some wind power projects.

It hopes to take part in major infrastructure development projects in Vietnam such as the North - South high-speed railway, expressways, and wind power projects, he said, pledging that the CHEC will work harder to fruitfully participate in infrastructure development projects in Vietnam so that the CCCC will become a true bridge of cooperation and friendship between the two countries.

Chinese rail and power giants seek major investment in Vietnam's infrastructure

China Railway Construction Corporation and PowerChina about show strong interest in joining Vietnam's infrastructure endeavours, especially the proposed Lao Cai - Hanoi - Haiphong railway project.

Chinese activity a strong part of enhancing investment

China has surpassed South Korea and Japan to become the second-largest foreign investor in Vietnam this year. Seck Yee Chung, partner at Baker McKenzie Vietnam, discussed with VIR’s Thanh Van about the Chinese funding that is ramping up in Vietnam.

Chinese investors eye new business deals

Chinese investors, driven by Vietnam’s strategic position and their own financial prowess, are deeply embedding themselves across various sectors in the country.

By VNA

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