Vietnamese premier urges PowerChina to strengthen cooperation with local firms in technology, energy

The call came during his meeting with president of PowerChina Asia Pacific Zhou Jiayi and a delegation of contractors and partners currently operating in Vietnam on Wednesday.

PM Chinh also called for cooperation in the development of the railway industry and human resource training.

He proposed that PowerChina integrate Vietnamese enterprises into its global supply chains, particularly in the manufacturing of wind turbines and solar panels.

He identified companies such as Viettel and Petrovietnam as key partners for technology transfer, and encouraged collaboration with infrastructure and energy firms like Lung Lo Construction Corporation and Song Da Corporation to develop renewable energy projects, especially wind power in the northern provinces of Vietnam.

The prime minister urged PowerChina to leverage its partnerships with Vietnamese firms to expand into the broader Southeast Asian region and beyond.

He reaffirmed Vietnam’s commitment to a development philosophy of ‘harmonized benefits and shared risks,’ assuring foreign investors, including PowerChina and other Chinese enterprises, that the Vietnamese government would continue to protect their legitimate rights and interests while supporting effective, lawful, and mutually beneficial investments in the country.

PM Chinh highlighted the strategic and long-standing friendship between Vietnam and China, describing the relationship as that of ‘both comrades and brothers’ and underscoring the goal of building a community with a shared future.

Desire for railway development partnership

Vietnam is focusing on some strategic breakthroughs, including transport, energy, and digital transformation infrastructure, and connection with China, especially in rail.

Zhou expressed PowerChina’s interest in partnering with four major Vietnamese enterprises to develop railway projects, starting with the Lao Cai – Hanoi – Hai Phong line.

The company pledged to ensure project efficiency through strong cost control and high-quality construction standards.

It was also committed to sharing technical expertise and project management experience with its Vietnamese counterparts.

PowerChina has operated in Vietnam since the early 2000s and has participated in over 100 projects across energy, infrastructure, and seaport development.

In 2024, it signed a memorandum of understanding with four Vietnamese firms, namely FECON JSC, Lung Lo Construction Corporation, Song Da Corporation JSC, and Thang Long Joint Stock Corporation, to form a consortium focused on nationally significant railway projects.

The consortium’s combined 2024 revenue was estimated at around VND22 trillion (US$880 million).