The Prime Minister of Vietnam invited PowerChina to work together to build a new future of clean ene

On May 21, when Prime Minister Pham Minh Chinh met with Zhou Jiayi, chairman of PowerChina Asia Pacific, in Hanoi, he proposed that the two sides cooperate on the Haiphong-Hanoi-Lao Cai railway project. The railway will connect Kunming and Chongqing in China, forming a key transport corridor to the European market.

The move comes at a time when Vietnam is focusing on three strategic breakthroughs, with a focus on transportation, energy, and digital transformation infrastructure. Rail connections with China are seen as one of the priorities.

Prime Minister Pham Minh Chinh welcomed PowerChina's cooperation plan with Vietnamese partners and supported the company's expansion of business in Vietnam, especially in the railway sector. He pointed out that China has long supported Vietnam in many fields, and many cooperation projects continue to bring tangible benefits to both sides.

The Prime Minister said that Vietnam encourages Chinese companies to invest in railway infrastructure construction, starting with the Lao Cai-Hanoi-Hai Phong railway. He suggested that PowerChina and Vietnam work closely together in the development of the railway industry, technology and experience transfer, high-quality human resource training and operational experience sharing.

He also referred to Viet Nam's recently adopted resolutions on scientific and technological development, innovation, digital transformation and private sector development, which provided incentives for investment and a conducive business environment.

Prime Minister Pham Minh Chinh wants PowerChina to integrate Vietnamese companies into its global supply chain, transfer clean energy technologies to companies such as Viettel and Vietnam National Industrial Energy Group for the production of wind turbines and solar panels, and work with local Vietnamese companies such as Lung Lo and Song Da to implement wind energy projects in the northern provinces.

Prime Minister Pham Minh Chinh reaffirmed Vietnam's commitment to balancing interests and sharing risks, and pledged that the Vietnamese government will support and protect the legitimate rights and interests of foreign investors, including PowerChina, to ensure that the project is smooth, efficient, legal and brings common benefits to all parties.

Chairman Zhou Jiayi said that with PowerChina's experience in building more than 2,000 kilometers of railways at home and abroad, the company is full of enthusiasm for railway projects in Vietnam. He proposed that the Vietnamese government work with four Vietnamese companies to build the Lao Cai-Hanoi-Hai Phong railway, promising to ensure that the project is on time, high quality and cost-effective, while sharing technical and management experience.

As the world's seventh-largest energy contractor, PowerChina operates in more than 130 countries, and its revenue is expected to exceed US$100 billion in 2024, ranking 108th among the world's top 500 companies. Its activities cover the fields of hydropower, irrigation, electricity, urban infrastructure, mining and digitalization.

Since entering Vietnam in the early 2000s, PowerChina has been involved in more than 100 energy and infrastructure projects, including port construction. In 2024, the company signed a memorandum of understanding (MoU) with four Vietnamese companies – FECON Joint Stock Company, Long Lo Construction Joint Stock Company, Song Dong Joint Stock Company and Sheng Long Joint Stock Company - to form a CVRail consortium to focus on the implementation of national key railway projects. The total revenue of the consortium in 2024 is expected to be about VND 22 trillion (about US$880 million).

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