Prime Minister Pham Minh Chinh (R) and Yan Jiehe, Founder and Chairman of China Pacific Construction Group. Photo: VNA

Vietnam always welcomes foreign investors, including those from China, in the spirit of “harmonious interests, shared risks,” VNA citied Prime Minister Pham Minh Chinh's affirmation at a reception for Yan Jiehe, Founder and Chairman of China Pacific Construction Group, one of China's largest private corporations in the field of transport infrastructure, in Hanoi on January 14.

Briefing the guest on Vietnam’s socio-economic development, Chinh said Vietnam has defined infrastructure development, covering transport infrastructure, as one of the three strategic breakthroughs.

The country aims to build 3,000 km of expressways by 2025, and 5,000 km by 2030, he continued.

The PM suggested the Chinese group hold working sessions with Vietnamese ministries, agencies, localities and partners to seek cooperation opportunities, soon open a representative office in the Southeast Asian nation, and join bidding for transport infrastructure projects in an open, transparent and equal manner, and in line with Vietnamese legal regulations.

Prime Minister Pham Minh Chinh receives Yan Jiehe, Founder and Chairman of China Pacific Construction Group. Photo: VNA

For his part, Yan spoke highly of Vietnam’s economic prospects, and noted his hope to participate in infrastructure projects in the country.

The group will soon open a representative office in Vietnam, and closely coordinate with Vietnamese agencies and localities, he said.

Founded in 1995, China Pacific Construction Group (CPCG) is a construction business headquartered in Urumqi, Xinjiang. It has conducted thousands of government-contracted infrastructure projects across the country, including cities, highways, bridges, and industrial parks.

CPCG is an active participant in government infrastructure initiatives both domestically and overseas, including urbanisation and poverty alleviation, as well as the Belt and Road Initiative.

China’s statistics showed that two-way trade between China and Vietnam hit USD 213.94 billion in the first 11 months of last year. Vietnam remained China’s biggest trade partner in ASEAN, contributing to promoting economic cooperation within the framework of China-ASEAN comprehensive strategic partnership.

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