12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Feb 23, 2023 / 20:52

China construction group commits to long-term investment in Hanoi

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.