Hanoi welcomes investment from businesses in the Greater Bay Area, especially in high-potential fields such as clean transportation, healthcare, and high-quality education.

Delegates at the meeting. Photo: Lien Ha/The Hanoi Times

 Chairman of the Hanoi People’s Committee Tran Sy Thanh expressed this view during a meeting with a delegation from the Greater Bay Area led by President of PCITECH Liu Wei today [July 3].

During the meeting, Thanh praised the economic model and scale of the Greater Bay Area. He briefed the guests on Hanoi's recent development achievements and its future strategic directions, highlighting the recent approval of the revised Capital Law by the Vietnamese National Assembly.

According to Thanh, this legislation provides favorable conditions and opens up various development opportunities for the city.

“Hanoi plans a comprehensive restructuring, including urban planning, production models, transportation, and environmental management,” Thanh said.

Emphasizing the need for transportation redevelopment, Thanh outlined the goal of building 12 urban railway lines to develop mass transit solutions that meet travel demands.

He added that Hanoi also aims to modernize old urban areas to improve the quality of life for residents, and assured that this process opens new opportunities for Greater Bay Area enterprises to explore, contribute, and cooperate.

"Hanoi is committed to welcoming Chinese investors, particularly from the Greater Bay Area," the Chairman emphasized.

With this spirit, Thanh expressed Hanoi's keenness to welcome Chinese investors, particularly from the Greater Bay Area, asserting that successful cooperation will significantly contribute to the friendly relations between Vietnam and China, in keeping with the desires of both countries' senior leaders.

In response, Liu Wei expressed his gratitude for the Chairman's insights. He noted that the Greater Bay Area is a strategic economic hub in China, encompassing nine cities in Guangdong, along with Macao and Hong Kong, and aims to develop into a world-class urban cluster.

Expressing interest in Hanoi's urban railway and waste management sectors, Liu appreciated the amendments to the Capital Law. He assured that the strong and friendly relationship between the two countries makes Chinese enterprises, particularly those in the Greater Bay Area, confident to invest in Vietnam.

Liu also highlighted the strengths of the Greater Bay Area in various fields, expressing the commitment of the region's businesses to share experiences and actively contribute to Hanoi's future development.

Thanh also highlighted the need for Chinese companies, especially those in the railway sector, to ensure aspects such as progress, technology, quality, and cost. He stressed the importance of enhancing information exchange, identifying risks, and effectively implementing cooperation projects.

The Guangdong-Hong Kong-Macao Greater Bay Area (Greater Bay Area) comprises the two Special Administrative Regions of Hong Kong and Macao, and nine municipalities in Guangdong Province: Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen, and Zhaoqing. Covering a total area of around 56,000 km², the Greater Bay Area has a population exceeding 86 million and a GDP of over US$1.97 trillion in 2023.