70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Construction
China construction group commits to long-term investment in Hanoi
Khanh Khanh 20:52, 2023/02/23
Over the next five years, the privately-owned Chinese enterprise plans to invest RMB45 billion (nearly US$6 billion) in Vietnam.
China Pacific Construction Group wishes to participate in infrastructure projects toward sustainable investment in Hanoi, affirming the group's long-term investment commitment in Vietnam.

 An overview of the meeting. Photo: Khanh Khanh

Chairwoman of the Board of Directors of Shenlan International Company and General Director of Pacific Construction Co., Ltd. Wu Jing expressed her expectation at the meeting with the Vice Chairman of the Hanoi People's Committee, Duong Duc Tuan, on February 23.

At the meeting, the Chinese entrepreneur said the firm would establish headquarters in Hanoi, following the suggestion of Prime Minister Pham Minh Chinh about choosing a Vietnamese province or city to develop its business.

She added that the group came to Vietnam for an investment promotion conference in Hanoi in 2019. The two sides signed a memorandum of understanding on infrastructure cooperation, but the pandemic postponed the implementation.

She also expressed her desire to accompany Hanoi's authorities in planning and urban projects, contributing to the city's socio-economic development.

She added that Yan Jiehe, Founder and Chairman of China Pacific Construction Group, always considers Hanoi a vital investment destination. Over the next five years, the Chinese Fortune Global 500 enterprise plans to invest RMB45 billion (nearly US$6 billion) in Vietnam.

Established in 1986, China Pacific Construction Group specializes in investing, constructing, and managing more than 3,000 industrial parks across China.

Speaking at the meeting, Vice Chairman of the Hanoi People's Committee Duong Duc Tuan said that China Pacific Construction Group is a strong business of China both in infrastructure construction and investment financing capacity.

He also pointed out some opportunities for investment cooperation between the two sides in planning, the construction of new satellite cities in the north and west of the capital, and the expansion of the airport system and the urban railway line.

The Vice Chairman of the municipal People's Committee suggested that Pacific Construction Co., Ltd. needs to set up a research and development team to participate in constructing Hanoi's wastewater treatment and drainage, part of the capital city's technical infrastructure categories.

RELATED NEWS
TAG: investment Hanoi urban planning
Other news
18:44, 2024/07/13
New Housing Law to lift legal barriers to renovating old apartments in Hanoi
The 2023 Housing Law introduces several important changes to address these issues.
13:50, 2024/07/11
Long-term solutions needed for organizing Hanoi’s rural architectural spaces
Traditional rural architectural treasures like stilt dwellings and communal houses are being commercialized and relocated to urban areas, undermining their original cultural and architectural integrity.
14:19, 2024/07/09
Amended Capital Law to help Hanoi realize Red River zoning plan
It is critical to put available riverbank land to good use in order to enhance landscape, cultural, economic, and tourism values while ensuring flood and disaster prevention.
20:06, 2024/06/27
Vietnam’s strategic infrastructure development projects attract Chinese investors
China actively prioritizes infrastructure development and promotes global transportation cooperation, considering Vietnam as a crucial partner.
15:07, 2024/06/27
PM calls for Vietnam-China cooperation on major projects
Both sides are expected to accelerate the connectivity of transportation infrastructure, particularly in railways, roads, and border crossings, under the frameworks of "Two Corridors, One Belt" and "Belt and Road Initiative."
11:31, 2024/06/26
Vietnam seeks China’s expertise for major railway projects
Vietnam expects to cooperate with China in personnel training, management, control, and design of railway projects.