Prime Minister Pham Minh Chinh this morning had a meeting with Mr. Chau Gia Nghia, President of Asia- Pacific region of Power Construction Corporation of China (PowerChina) and a group of contractors and cooperation partners in Vietnam.

With experience in participating in and constructing more than 2,000km of railways, PowerChina wishes to cooperate with 4 Vietnamese enterprises to participate in implementing railway projects in Vietnam, first of all the Lao Cai - Hanoi - Hai Phong railway. The group is committed to ensuring the progress, quality and effective cost control for the project as well as sharing technical and management experience with Vietnamese partners.

As the 7th largest contractor in the world in the energy sector, PowerChina also wishes to continue to cooperate and invest in developing renewable energy in Vietnam and other infrastructure sectors.

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Prime Minister Pham Minh Chinh at the reception. Photo: VGP

Prime Minister Pham Minh Chinh welcomed PowerChina’s cooperation plan with Vietnamese partners; expressed support for the group’s investment and business policy in Vietnam in the railway sector. He also reiterated that China has cooperated and supported Vietnam in many fields, with many projects still being effective.

The Prime Minister said that Vietnam encourages large, reputable Chinese corporations and enterprises to invest and develop in the fields of railway infrastructure in Vietnam, first of all the Lao Cai - Hanoi - Hai Phong railway.

He proposed that PowerChina cooperate and support Vietnam in developing the railway industry; transferring technology, science and technology; training high-quality human resources, management science, and operational solutions in the railway sector...

Referring to resolutions on breakthroughs in science and technology development, innovation, digital transformation and private economic development with many breakthrough mechanisms and policies, the Prime Minister asked PowerChina to support Vietnamese enterprises to participate in the group's global supply chain, such as: transferring technology to Vietnamese enterprises such as Viettel and Petrovietnam, especially technology for manufacturing wind engines and solar panels; cooperating with Vietnamese enterprises such as Lung Lo and Song Da to survey and develop energy projects, especially wind power in the northern provinces.

The Prime Minister said that PowerChina can expand its market to countries in Southeast Asia and other regions through Vietnamese enterprises.

The Prime Minister affirmed the motto of "harmonized benefits, shared risks", considering the success of enterprises as the success of Vietnam. The Government and ministries, branches and localities always accompany, support, protect and ensure the legitimate rights and interests of foreign investors in Vietnam in implementing investment as well as operating projects effectively, mutually beneficial and in compliance with legal regulations.

PowerChina currently operates in more than 130 countries in five major sectors: water conservancy - hydropower, electric power, urban infrastructure, mining and digitalization. In 2024, the group will achieve revenue of more than 100 billion USD, ranking 108th among the 500 largest enterprises in the world.

PowerChina has been present in Vietnam since 2000, participating in the construction of more than 100 energy projects, infrastructure projects, seaports...

In 2024, PowerChina signed a memorandum of understanding with FECON Joint Stock Company, Lung Lo Construction Corporation, Song Da Corporation - JSC, Thang Long Corporation - JSC to establish the CVRail consortium to jointly research and participate in key national railway projects. The total revenue value in 2024 of Vietnamese companies in the consortium is about 22,000 billion VND.

Source: https://vietnamnet.vn/tap-doan-trung-quoc-muon-dau-tu-duong-sat-cao-toc-lao-cai-ha-noi-hai-phong-2403395.html