Chinese giants eye strategic infrastructure, clean energy projects in Vietnam

Chinese companies are keen to expand their investments in Vietnam, focusing on strategic transport infrastructure projects, green economy, digital economy, circular economy, electronics, information technology, and clean energy.

Leaders from Chinese companies made the statements during a forum chaired by Vietnamese Prime Minister Pham Minh Chinh on Friday in Hanoi.

The forum gathered 23 leading Chinese firms, mainly operating in the fields of infrastructure, energy, electronics, information technology, telecommunications, banking, and aviation, and 15 big Vietnamese firms.

The Chinese companies also commented that Vietnam's economy is growing with bright prospects, with increasingly improved business climate, becoming an important link in the global supply chain.

Chinese Ambassador to Vietnam He Wei stressed that Chinese investment in Vietnam faces unprecedented new opportunities, especially in green development and digital economy.

Investment projects of Chinese enterprises in Vietnam are constantly increasing in quantity and quality. Chinese businesses have invested more than $6 billion in Vietnam in the fields of green, circular and renewable economy, he told the forum.

Prime Minister Pham Minh Chinh asked Chinese businesses to promote transfer of high technology and support Vietnamese businesses to develop in terms of both scale and technology and participate in the global value chain.

He also urged them to expand investments in traditional growth drivers like export and consumption, as well as new growth drivers and emerging industries like big data, cloud computing, optoelectronics, internet of things, biomedical industry, high-end services, and high technology, especially payment services, developed on the basis of science-technology, and digital transformation.

Other areas that Chinese investors should pay attention to are clean energy, especially renewable energy; transport infrastructure, especially railways, airports, ports, and expressways; development of industrial parks and economic zones; digital payments, QR payments, and local currency payments; development of financial centers; green finance; trade; development of border economic zones; and building smart border gates, the Prime Minister added.

Chinh also asked the Ministry of Transport and the Ministry of Construction to speed up the implementation of railway projects connecting the two countries (Lao Cai-Hanoi-Hai Phong, Lang Son-Hanoi, and Mong Cai-Ha Long-Hai Phong railway lines), which will be "symbols for the bilateral relationship".

The Chinese business delegation included China Railway Sixth Bureau, China Construction, China Traffic Construction, Pacific, China Commercial Aircraft (COMAC), China Energy Construction, Power China, Hua Dien, Chery Automobile, BYD, Geely, Tianang Battery Group, Sailun Tire Group, TCL Group, Goertek Group, Huawei Group, ZTE Group, Bank of China (BOC), Agricultural Bank of China, and Industrial and Commercial Bank China.