Prime Minister Pham Minh Chinh works with leading Chinese corporations

On the morning of August 31, in Tianjin city, Prime Minister Pham Minh Chinh worked with leading corporations in the fields of energy, infrastructure, electric vehicle manufacturing, and banking in China.

Prime Minister Pham Minh Chinh receives Mr. Peng Gangping, Chairman of the Board of Directors of China Huadian Science and Technology Group Co., Ltd. (Photo: Duong Giang/VNA)

According to the VNA special correspondent, during his participation in the Shanghai Cooperation Organization (SCO) Summit and working trip to China, on the morning of August 31st in Tianjin, Prime Minister Pham Minh Chinh held meetings with leading Chinese corporations in the fields of energy, infrastructure, electric vehicle manufacturing, and banking.

During the working sessions, the Prime Minister and leaders of the corporations reviewed and assessed the results of the work outlined in previous meetings, particularly the implementation of agreements between high-level leaders of the two countries in related fields; identified tasks to promote cooperation in the coming period through specific programs, projects, and timelines; including supporting Vietnam in developing its energy ecosystem; developing solutions for transitioning to green transportation for Vietnamese people; providing financial support for Vietnam to connect to the ASEAN power grid and develop transportation connectivity with China...

Regarding support for Vietnam's energy ecosystem development, at a meeting between Prime Minister Pham Minh Chinh and leaders of Hua Dien Engineering Group – a group that has been on the Fortune Global 500 list for 13 consecutive years – Mr. Peng Gangping, Chairman of the Board of Directors of Hua Dien Engineering Group, stated that the group has defined a long-term investment strategy in Vietnam, with the formula “1+1+1+N” (1 business entity in Vietnam + 1 research center in Vietnam + 1 manufacturing base/facility in Vietnam + numerous cooperation projects in Vietnam); it has cumulatively invested 2.8 billion USD, including projects such as the Duyen Hai 2 power plant in Tra Vinh province (formerly) and wind power projects in Dak Lak province.

Mr. Peng Gangping shared that the corporation is actively training human resources, sharing experience, transferring technology, ensuring energy security, and facilitating energy transition for Vietnam; he expressed his desire to increase investment and make positive contributions to Vietnam's green transition, specifically in areas such as wind energy, green hydrogen, pumped storage, solar energy, upgrading the power system, improving the technology of power plants, and enhancing energy efficiency; he requested the Prime Minister to direct relevant ministries, agencies, and units of Vietnam to cooperate with the corporation in developing a long-term, sustainable investment and business plan.

The Prime Minister expressed his pleasure that the suggestions he made during his meeting with the leaders of Huadian Group more than three months ago are being actively implemented; congratulated the Group on its effective investment and business operations, including projects in Vietnam; and highly appreciated Huadian Group's long-term investment strategy in Vietnam with the "1+1+1+N" formula, as well as its participation in social welfare work and human resource training for Vietnam.

Given that Vietnam is striving to achieve 8.3-8.5% growth this year and double-digit growth in the following years in the direction of green and sustainable development, thus increasing electricity demand, especially the demand for clean energy such as wind and solar power, the Prime Minister requested that, in the spirit of "harmonious benefits, shared risks; keeping promises, and ensuring concrete results," Hoa Dien Group continue to cooperate with and support Vietnam in developing its energy ecosystem; propose new investment ideas and projects; transfer solutions, management experience, modern technology, and new economic models; attract investment capital, support development, investment funds, financial institutions, and especially multinational corporations.

The Prime Minister stated that the Vietnamese Government is committed to accompanying, supporting, and creating the most favorable conditions for Chinese businesses in general, including Huadian Group, to successfully and efficiently implement investment and operational projects in a mutually beneficial manner and in compliance with Vietnamese law.

Prime Minister Pham Minh Chinh receives Mr. Vuong Gia Trung, Vice President in charge of global affairs at Yadea Science and Technology Group. (Photo: Duong Giang/VNA)

Regarding proposed solutions for transitioning transportation methods for Vietnamese people, at a meeting between Prime Minister Pham Minh Chinh and the leaders of Yadea Science and Technology Group Co., Ltd., Mr. Vuong Gia Trung, Senior Vice President of the group, stated that Yadea is a leading global manufacturer of two-wheeled electric vehicles, having established 10 large production and research centers in many countries, with products distributed in over 100 countries and territories.

In Vietnam, the Group has built an electric vehicle factory in Bac Giang since 2019; it is continuing to expand investment, increasing the designed capacity to 2 million vehicles per year, supplying products to the Vietnamese and Southeast Asian markets; and has established a Research and Development (R&D) center in Vietnam.

Yadea is committed to strengthening localization; training human resources for Vietnam; bringing world-leading core technologies to Vietnam; and providing Vietnamese users with more high-quality green transportation options.

Wishing to develop the electric vehicle ecosystem in Vietnam, Mr. Vuong Gia Trung suggested that Vietnam should have a specific strategy, roadmap, regulations, standards, and a system of standards for developing the electric vehicle ecosystem, including hardware and software production, infrastructure development, and electric vehicle usage, so that the corporation has a basis for cooperation and investment.

Prime Minister Pham Minh Chinh welcomed and highly appreciated Yadea Group's development strategy towards green and sustainable development, which aligns with Vietnam's development strategy of rapid and sustainable development, prioritizing the development of a green economy, digital economy, circular economy, based on science, technology, innovation, and digital transformation.

Expressing his desire for the corporation to support and cooperate with Vietnam in developing an electric vehicle ecosystem, including two-wheeled, three-wheeled, and four-wheeled vehicles, hardware and software production, and battery charging station infrastructure, the Prime Minister requested the corporation to research a project to support the transition of transportation methods for Vietnamese people, making it easier, more convenient, and accessible for them to use electric vehicles. This could include measures such as selling/exchanging high-quality, reasonably priced electric vehicles; and converting gasoline vehicles into electric vehicles.

In addition, the Group proposed the development and legalization of regulations, standards, and criteria for the development of electric vehicles in Vietnam. The Prime Minister requested that Vietnamese ministries and agencies closely coordinate with Yadea Group to ensure that the Prime Minister's proposals are implemented promptly.

Prime Minister Pham Minh Chinh receives Chairman of Hua Thiet Design Group, Duong Ve Dong. (Photo: Duong Giang/VNA)

Regarding technology transfer and investment in transportation projects connecting with China, earlier that morning, Prime Minister Pham Minh Chinh held a meeting with leaders of the Chec Engineering Design Group (CHEC).

During the meeting, Mr. Yang Weidong, Chairman of the Board of Directors of CHEC, stated that as the third largest company in China and the fifteenth largest in the world in the field of design, Hoa Thiet possesses leading comprehensive design capabilities for all transportation sectors including roads, railways, waterways, and aviation, and is a leading engineering design consulting firm. Currently, Hoa Thiet is cooperating with Deo Ca Group of Vietnam on infrastructure projects in Vietnam.

Prime Minister Pham Minh Chinh welcomed Hoa Thiet Group's cooperation with Vietnamese businesses, bringing new technologies to implement infrastructure projects in Vietnam; and affirmed its long-term investment strategy in Vietnam.

The Prime Minister requested Hoa Thiet to support Vietnamese businesses in infrastructure design and construction, including transportation, telecommunications, energy, and digital infrastructure; to build an ecosystem for consulting and design, and to develop a more professional consulting and design industry in Vietnam; and to research forms of technology transfer, such as establishing joint ventures, to transfer advanced technology, ensure safe and high-quality construction, and accelerate construction time, even in complex terrain and weather conditions like those in Vietnam.

In particular, the Prime Minister requested the Hoa Thiet Group to participate in the investment and construction of the Cao Bang-Lang Son expressway and other routes connecting Vietnam and China; to study the effective exploitation and development of the Red River axis, especially the section through Hanoi and the Red River Delta; and to participate in the International Financial Center in Vietnam...

Emphasizing the importance of time, intelligence, and decisiveness, the Prime Minister pledged to accompany, support, and create the most favorable conditions for Chinese enterprises in general, including Hua Tie Group, to successfully and efficiently conduct business in a mutually beneficial manner and in compliance with Vietnamese law; he requested that any difficulties encountered during implementation be reported to the competent authorities, or even to the Prime Minister for consideration and resolution.

Prime Minister Pham Minh Chinh receives Mr. Kim Lap-kwan, President of the Asian Infrastructure Investment Bank (AIIB). (Photo: Duong Giang/VNA)

Regarding support for Vietnam in building and connecting to the ASEAN network, during Prime Minister Pham Minh Chinh's working session with leaders of the Asian Infrastructure Investment Bank (AIIB), the two sides discussed strengthening cooperation in implementing key investment projects in Vietnam in the areas of infrastructure connectivity, improving logistics capacity and socio-economic development, and providing capital support for both state-owned enterprises and the private sector.

Prime Minister Pham Minh Chinh shared with AIIB President Jin Liqun and his colleagues Vietnam's development policies and priorities; emphasizing the importance of accelerating the implementation of the Lao Cai-Hanoi-Hai Phong railway line connecting Vietnam with China and the power grid connecting Vietnam with ASEAN countries.

The Prime Minister requested AIIB to focus its resources on supporting Vietnam in implementing these two important projects. Regarding private capital mobilization and financing for the private sector, Prime Minister Pham Minh Chinh requested AIIB to continue directly financing key infrastructure projects and to create favorable conditions for both state-owned and private Vietnamese enterprises to access preferential loans with favorable interest rates and grace periods.

On this occasion, the Prime Minister highly appreciated the AIIB's cooperation with Vietnamese partners and invited AIIB President Jin Liqun to visit Vietnam in September 2025 to directly discuss specific matters with Vietnamese partners.

AIIB President Jin Liqun congratulated Vietnam on its recent socio-economic achievements and expressed his admiration for Vietnam's progress in raising its income level compared to other developing countries in the region.

He believes that with the right macroeconomic policies implemented by the Vietnamese government, combined with effective mobilization of external resources, Vietnam will achieve double-digit growth as targeted.

Sharing his deep affection and affirming that "Vietnam is always in his mind and heart," the AIIB President agreed with Prime Minister Pham Minh Chinh's proposals; affirming that AIIB will continue to accompany and support Vietnam in mobilizing capital to support the implementation of key infrastructure projects, especially those related to renewable energy and climate change adaptation.

According to VNA

Source: https://baothanhhoa.vn/thu-tuong-chinh-phu-pham-minh-chinh-lam-viec-voi-cac-tap-doan-hang-dau-cua-trung-quoc-260206.htm