PM Chinh meets with ADB president and leaders of major Chinese firms

On behalf of the Vietnamese Government and people, PM Chinh thanked the bank for providing crucial funding for socio-economic development projects, as well as for its positive contributions to poverty reduction efforts in the nation.

Acknowledging the 30-year tradition of strong co-operation, he underlined the need to further expand the scale of collaboration, proposing that the ADB continue to provide concessional loans for emerging Vietnamese sectors such as digital transformation, green transition, cloud computing, and large-scale strategic infrastructure projects.

Showing his hope that the Vietnamese Government will further accelerate the disbursement of ADB funds for development projects, Asakawa spoke highly of the nation’s important role in the GMS, wishing that Vietnam, as a founding member, will continue to actively participate in his bank’s programmes.

The bank stays ready to support the country in achieving net-zero emissions by 2050, he  emphasized.

Thanking the ADB for consulting on several issues and supporting the nation in its period of renewal, PM Chinh said that the country is continuing to improve its institutions and streamline cumbersome processes and procedures, whilst considering borrowing bigger amounts to concentrate on large projects related to strategic infrastructure, climate change adaptation infrastructure, renewable energy, and emerging sectors.

He expressed his desire for the ADB's attention to and funding given to offshore wind power, standard railway, urban metro lines, high-speed rail, and anti-erosion projects.

The Vietnamese side hopes to receive experiences from ADB and its president in policy consultations whilst boosting sustainable growth and increasing the economy’s competitiveness, as well as offering support to Vietnamese enterprises to participate in the global supply chain.

Appreciating the potential for private sector economic development in the nation, the ADB president stated that the bank is facilitating loans to countries at lower interest rates, thereby contributing to mitigating the impact of climate change in the country.

The same day, the Vietnamese Government chief held separate meetings with leading Chinese infrastructure and energy corporations in Kunming to bolster bilateral ties in these areas.

At the events, the Vietnamese Government leader said he welcomes Chinese investment in the country and highlighted the flourishing neighbourly friendship that exists between the two.

He stressed that enterprises of both sides should step up co-operation and promote the realisation of high-level agreements and specific collaboration initiatives and create joint comprehensive strategic co-operative partnership and a community with a shared future which carries strategic significance develop in a deeper and more comprehensive and sustainable fashion.

The leader therefore called for strengthened collaboration through specific projects along with preferential financial support, technology transfer, R&D co-operation, and human resources training, among others, all of which will help Vietnamese firms to better integrate into corporate and global supply chains.

Vietnam is in the process of pressing ahead with its three strategic breakthroughs in fine-tuning institutions and laws, building hard and soft infrastructure, and developing human resources, he said. He affirmed that it has created all favourable conditions in accordance with current regulations so that Chinese investors could work effectively and sustainably in the country.

At a meeting with Dai Hegen, chairman of the China Railway Construction Corporation (CRCC), PM Chinh hailed the enterprise’s effective and sustainable business and investment activities across the globe.

Welcoming the CRCC’s plan to expand its operation in the nation, he underscored that the Government always accompanies and supports the corporation’s activities in the country, whilst encouraging the firm’s engagement in Vietnamese railway projects, particularly the Lao Cai – Hanoi – Hai Phong, Hanoi – Lang Son, and Hai Phong – Mong Cai railways, as well as several expressway projects linking Vietnamese and Chinese localities.

The Chinese official said the firm is willing to engage in the projects and commits to meeting all of the set objectives.

He therefore recommended that the Vietnamese side expedite and streamline administrative procedures and the Chinese one provide assistance for the feasibility study and assign specific tasks to the CRCC so that it can begin construction in December next year.

The CRCC, ranked 39th in the Fortune Global 500, has co-operated alongside Vietnam in the railway sector for years.

At a meeting with Jiang Yi, chairman of Huadien Corporation, PM Chinh suggested the enterprise work alongside Vietnamese partners on clean energy development and power distribution and trade.

Welcoming the corporation’s plan to further expand investment and business activities in Vietnam, PM Chinh recommended several areas for enhanced co-operation, including investment proposals, the transfer of modern technology solutions, and management expertise sharing.

He also asked the Huadien chairman to study collaboration in priority areas such as the establishment of energy industrial centres integrated with concentrated industrial parks, the building of processing and manufacturing centres, and human resources development.

Jiang Yi said Huadien has attached much importance to the Vietnamese market and invested US$2.8 billion there, adding that the corporation wants to enhance investment in the country across the areas of wind energy, green hydrogen, energy storage projects, and power system upgrades.

At a working session with Zhang Deliang, vice chairman of Energy China, PM Chinh encouraged the firm to expand its operation in wind power, solar power, liquefied natural gas power, and transport infrastructure development in Vietnam.

He affirmed that the nation always offers favourable conditions for Chinese companies, including Energy China, to effectively, successfully, and sustainably do business in the country.

The corporation leader, for his part, said Energy China is carrying out 16 projects worth US$2.2 billion in the Vietnamese market. He therefore expressed his confidence in the country’s investment climate, saying the corporation desires to become involved in offshore wind power, LNG power, and transport projects in Vietnam.