Chinese businesses urged to invest in Vietnam’s railways by Prime Minister

During a meeting with leaders of Chinese businesses in the railway and energy sectors, Prime Minister Pham Minh Chinh emphasized the importance of Chinese support in building Vietnam’s railway industry, transferring technology, and training human resources. The Prime Minister highlighted the urgent need for railway construction and development in Vietnam, with plans to increase the country’s railway network to 5,000 km by 2030, connecting major seaports and urban areas. The total capital needed for this transportation infrastructure project is estimated to be around $84.5 billion.

Prime Minister Pham Minh Chinh met with Mr. Ton Vinh Khon, Vice President of Dalian Locomotive and Rolling Stock Co., Ltd. (CRRC), to discuss potential cooperation in the production and technology transfer for manufacturing locomotives and carriages. This collaboration could support Vietnam’s railway projects, including the development of high-speed railways in the future. The Prime Minister stressed the importance of long-term investment and shared benefits in infrastructure projects to avoid overloading and ensure sustainable development.

Furthermore, the Prime Minister also met with Mr. Wang Xiaojun, Vice Chairman of China Power Construction Corporation (PowerChina), to discuss the group’s interest in investing in Vietnam’s infrastructure and energy sectors. PowerChina expressed its desire to participate in projects such as urban railways, pumped storage hydropower, and renewable energy projects in Northern Vietnam. The Prime Minister encouraged PowerChina to work with relevant ministries and localities to propose specific projects and align with Vietnam’s national electricity development plan.

In conclusion, the Prime Minister’s discussions with Chinese business leaders focused on enhancing cooperation in the railway and energy sectors to support Vietnam’s infrastructure development goals. With shared commitment and collaboration, both countries aim to strengthen economic and trade cooperation through strategic partnerships and sustainable infrastructure projects.