Chinese giants keen on Vietnam metro railway projects
Two Chinese railway giants have informed Prime Minister Pham Minh Chinh of their interest in getting involved with the implementation of metro railway projects in Vietnam.
Executives of Dalian Locomotive and Rolling Stock Co. Ltd., under China’s state-owned CRRC Corporation Limited (CRRC), and state-owned Power Construction Corporation of China (PowerChina) discussed cooperation possibilities during their meeting with PM Chinh in Liaoning province on Monday.
PM Chinh is on a four-day visit to China.
Vietnam-China railway projects
Sun Rongkun, chairman of Dalian Locomotive and Rolling Stock Co. Ltd., said that his company, which boasts top railway technology and extensive experience, was willing to join the implementation of agreements inked by the two countries and follow instructions of the two governments.
Prime Minister Pham Minh Chinh (right) and Sun Rongkun, chairman of Dalian Locomotive and Rolling Stock, at a meeting in China, June 24, 2024. Photo courtesy of the government's news portal.
The firm stood ready to join metro projects in Hanoi and Ho Chi Minh City; providing solutions, technology and workforce training to help Vietnam develop its railway sector, the executive added.
PM Chinh urged the Chinese giant and Vietnam’s state-owned Vietnam Railways Corporation to collaborate in manufacturing locomotives, financing and workforce training. He also suggested that the company considers joining projects outside the railway sector, like new energy.
Chinh also mentioned current bilateral cooperation in building transnational railway routes, including one connecting Hanoi, Lao Cai province and Hai Phong city; another linking Lang Son province and Hanoi; and yet another between Quang Ninh province and Hai Phong city. He added that Vietnam planned to continue developing urban railways in Hanoi, especially the one linking the city to the Hoa Lac Hi-Tech Park, and in HCMC.
PowerChina and metro projects in Hanoi, HCMC
At the meeting with PowerChina, PM Chinh urged the giant to invest more in Vietnam, focusing on railway and renewable energy sectors. Vietnam welcomes foreign firms, including PowerChina, to join railway projects agreed to by authorities of both countries including metro routes in Hanoi and HCMC.
Prime Minister Pham Minh Chinh (right) and Wang Xiaojun, deputy general manager of PowerChina, at a meeting in China on June 24, 2024. Photo courtesy of the government's news portal.
He also proposed that PowerChina helps Vietnam with new investments, technology and management of railway sector development.
The PM emphasized that Vietnam was woking on a legal framework for direct power purchase agreement (DPPA) mechanisms and encouraging solar power for self-production and self-consumption, not to mention LNG- and gas-fired power.
Wang Xiaojun, deputy general manager of PowerChina, said the firm was ready to cooperate with Vietnam in railway, metro railway, new energy, wind power, especially in northern Vietnam.
PowerChina has been operating in Vietnam since 2000, working on contracts worth $9 billion, employing more than 1,000 laborers. These include 23 solar power projects of 2,681 MW, nine offshore wind power projects of 1,217 MW, 16 onshore wind power projects of 1,201 MW and two waste-to-power projects in Hanoi and Can Tho city capable of handling a total of 4,400 tons of waste per day.
Vietnam’s ambitious metro plans in Hanoi and HCMC comprise 10 routes each, totalling 418 km and 220 km, respectively. Hanoi has one route in operation and two others under construction, while HCMC is yet to put any project into operation.
- Related News
- Read More
Central Vietnam province reviews investment proposal for thermal power project after Thai EGATi pullout
Authorities in the central province of Quang Tri are evaluating a proposal from Power Generation JSC 1 (EVNGENCO 1), a subsidiary of state utility Vietnam Electricity (EVN), to take over the Quang Tri thermal power plant project, following the withdrawal of Thai investor EGATi.
Energy - Tue, September 16, 2025 | 1:44 pm GMT+7
Amata to sell stakes worth $46 mln in Vietnam units to Novaland-tied buyers
Amata VN, the Vietnam arm of Thailand’s leading industrial park developer Amata, has approved a plan for its subsidiary Amata City Long Thanh Urban JSC (ACLT) to sell its remaining 51% stakes in two entities to local developer Novaland-linked buyers.
Real Estate - Tue, September 16, 2025 | 12:19 pm GMT+7
Vietnam already meets FTSE's criteria for stock market status upgrade: Finance Minister
Vietnam has fulfilled the criteria for a stock market status upgrade by FTSE Russell through reforms aimed at facilitating foreign investment inflows into its market, said Minister of Finance Nguyen Van Thang.
Economy - Tue, September 16, 2025 | 9:36 am GMT+7
Banks should be allowed to distribute, invest in mutual fund certificates: Vietnam's finance ministry
The Ministry of Finance is proposing a key reform that would allow commercial banks to invest in and distribute mutual fund certificates, as part of a broader plan to restructure the investor base and foster the development of Vietnam’s fund management industry.
Finance - Tue, September 16, 2025 | 8:00 am GMT+7
E-commerce boom a major driver of Vietnam's packaging paper industry growth
Vietnam's paper packaging industry is entering a period of strong growth, with an average annual growth rate forecasted at 10% until 2030.
Companies - Mon, September 15, 2025 | 10:20 pm GMT+7
Vietnam needs support from UK in developing international financial center: Deputy PM
Permanent Deputy Prime Minister Nguyen Hoa Binh has called on the UK and the City of London to continue supporting and accompanying Vietnam in promoting and introducing its international financial center (IFC).
Finance - Mon, September 15, 2025 | 10:12 pm GMT+7
Vietnam enforces 8% capital adequacy ratio for banks from Sept 15
Commercial banks and foreign bank branches in Vietnam must maintain a minimum capital adequacy ratio (CAR) of 8%, including at least 4.5% in Tier 1 core capital and 6% in Tier 1 capital, starting from September 15.
Banking - Mon, September 15, 2025 | 10:04 pm GMT+7
Tool for wood traceability management debuts in Vietnam
The Vn-WoodID application has been officially launched in Vietnam, becoming a key tool contributing to wood traceability.
Companies - Mon, September 15, 2025 | 10:00 pm GMT+7
Sun Group, US Embassy foster aviation-hospitality cooperation
Sun Group, in collaboration with the US Embassy in Vietnam, hosted the US – Vietnam Aviation Partnership Roundtable on September 12, bringing together 15 leading American corporations in aviation, technology, and financial services, opening up opportunities to position Phu Quoc as a new aviation and tourism hub in the region.
Companies - Mon, September 15, 2025 | 9:54 pm GMT+7
Vietnam tops Thai giant SCG’s overseas markets with 9% revenue contribution in H1
Vietnam remained the largest overseas market for Thailand’s Siam Cement Group (SCG) in the first half of 2025, contributing 9% of consolidated sales.
Companies - Mon, September 15, 2025 | 8:10 pm GMT+7
Central Vietnam to have new airport Mang Den
Procedures to adjust Vietnam's airport system planning, including the addition of Mang Den Airport in central Vietnam, are being proceeded, according to the Ministry of Construction.
Infrastructure - Mon, September 15, 2025 | 5:16 pm GMT+7
Vietnam's government seeks to position country as 'regulated hub for digital assets in Asia': Dragon Capital
The Vietnamese Government has advanced the regulation of digital assets, with a resolution launching a five-year pilot framework for issuance and trading. This framework signals the Government’s intent to position the country as a regulated hub for digital assets in Asia, which could attract new capital inflows, write Dragon Capital analysts.
Economy - Mon, September 15, 2025 | 2:20 pm GMT+7
Agribank introduces sizable $4.17 bln preferential credit package
Right from the beginning of 2025, Agribank launched a substantial preferential credit package worth VND110 trillion ($4.17 billion) to support individual customers.
Companies - Mon, September 15, 2025 | 1:32 pm GMT+7
'Precious space' in Vietnam's monetary policy
The Federal Reserve's continued cuts in 2025, with the most recent in September, are considered a valuable policy "space" for the State Bank of Vietnam (SBV) to maintain low interest rates to support growth without having to worry too much about exchange rates.
Economy - Mon, September 15, 2025 | 10:15 am GMT+7
Vietnam’s central bank sells $1.5 bln to stabilize currency: broker MBS
The State Bank of Vietnam (SBV) intervened in the foreign exchange market by selling approximately $1.5 billion via 180-day cancelable forward contracts from August 25-26, in an effort to ease pressure on the Vietnamese dong, according to a recent report by MB Securities (MBS).
Banking - Mon, September 15, 2025 | 8:04 am GMT+7
Hanoi aims to break ground on $11.4 bln Red River Boulevard & Landscape project by Jan 2026
A consortium of “tunnel king” Deo Ca Group and real estate developer Van Phu Invest has been assigned by the Hanoi People’s Committe to prepare an investment proposal for the VND300 trillion ($11.37 billion) Red River Boulevard & Landscape project.
Real Estate - Mon, September 15, 2025 | 7:55 am GMT+7
