Chinese giant interested in Hanoi urban infrastructure development

China Pacific Construction Group (CPCG), China’s second largest private enterprise, wished to cooperate with Hanoi in potential infrastructure development projects, chairman Yan Jiehe said Friday.

In a meeting with Duong Duc Tuan, Vice Chairman of the Hanoi People's Committee, Yan said that his group, among the world’s Top 500, plans to set up its Southeast Asia headquarters in Hanoi in the near future.

Yan requested Hanoi authorities for information on the city’s orientations, incentives and legal regulations to facilitate the group’s search for cooperation opportunities.

He outlined the group’s experience in managing urban, housing and construction works in China as well as other countries.

Tuan said Hanoi was focusing on developing a synchronous and modern transportation system; and completing construction of national highways, expressways, ring roads, intra-regional and inter-regional connection roads per its master plan.

He noted that foreign partners were involved in a number of large projects in the city for technology transfer, consultancy and investment. Among these are Ring Road 4, Ho Tay (West Lake)-Hoa Lac metro line, Ha Dong Park, and Tu Lien Bridge across the Red River.

These projects play an important role in maintaining traffic arteries and contributing to urban aesthetics, he said.

Tuan added that he looked forward to laying a good base for long-term cooperation with the Chinese group.

Hanoi posted a gross regional domestic product (GRDP) growth of 6.08% year-on-year in the first nine months of 2023, contributing nearly 13% of the country’s total GDP. During this period, the capital city attracted FDI of nearly $2.53 billion, accounting for 12.5% of country’s total.