Pham Minh Chinh (R), Prime Minister of Vietnam, and Peng Gangping, Chairman of China Huadian Corporation in Tinajin, China, on August 31
Vietnam welcomes, encourages, and will create favourable conditions for Chinese enterprises to invest and do business in the country, said Prime Minister Pham Minh Chinh during his separate meetings with leaders of three major Chinese corporations in Tianjin.
Meeting with Peng Gangping, Chairman of China Huadian Corporation, the Vietnamese Prime Minister highlighted Vietnam’s vast potential for renewable energy development, such as wind power, solar power, hydropower, and pumped storage. The country is also a fast-growing market with strong energy demand to achieve an 8 per cent growth target this year and double-digit rates in the years ahead.
Acknowledging Huadian’s effective investment in Vietnam, with total accumulated investment already exceeding USD 2.8 billion, the Prime Minister welcomed the corporation’s expansion plans in energy infrastructure. He urged Huadian to continue cooperation in technology transfer, management expertise, investment mobilisation, and the development of wind power, hydropower storage, and hydrogen power projects, while also working with Vietnamese partners to train human resources.
At a meeting with Wang Jiazhong, Senior Vice President at Yadea Group Holdings Ltd, the world’s leading two-wheeled electric vehicle producer, the Prime Minister welcomed Yadea’s investment in building a large-scale electric vehicle plant in Bac Giang province, covering 230,000 m² with a designed capacity of 2 million units per year.
Stressing that Vietnam is restructuring its economy toward green and circular models, he encouraged Yadea to expand investment through technology transfer and localization. The Prime Minister also proposed that Yadea develop a “petrol-to-electric motorbike swap” programme to make green vehicles more affordable for Vietnamese consumers, and at the same time build charging station networks in the country.
During his meeting with Yang Weidong, Chairman at China Design Group Co. Ltd. (Huatie), the Prime Minister praised the group’s strong capacity in comprehensive design consultancy across road, rail, waterway, and aviation infrastructure. He welcomed Huatie’s signing of a Memorandum of Understanding on comprehensive cooperation with Vietnam’s Deo Ca Group and called for deeper participation in key Vietnamese infrastructure projects, including the Cao Bang–Lang Son expressway and developments along the Red River.
The Prime Minister also encouraged Huatie to expand cooperation in financial mechanisms and engage in financial markets at Vietnam’s planned International Financial Centre in Ho Chi Minh City and Danang.
Prime Minister Pham Minh Chinh is in Tianjin, China, for a Shanghai Cooperation Organisation Summit 2025.