During the Shanghai Cooperation Organisation (SCO) Summit on August 31 in Tianjin, Prime Minister Pham Minh Chinh met with leaders of several leading Chinese corporations and enterprises.
Peng Jiangping, chairman of China Huadian Science and Technology Group Co., Ltd., expressed a desire to increase investment in Vietnam in areas such as wind power, green hydrogen, pumped-storage hydropower, and upgrading the power grid. Additionally, the group hopes to collaborate with Vietnamese companies in scientific and technological innovation, aiming to establish a research and development (R&D) centre.
Huadian is one of China's five largest power generation corporations and has invested over $2.8 billion in Vietnam. Among its projects, the Duyen Hai 2 Power plant in Vinh Long province with a capacity of 1,320 MW is the group's largest overseas power project by installed capacity and scale.
Jiangping stated, "Huadian's investment and business strategy in Vietnam follows a "1+1+1+N" model, consisting of a business entity, an R&D centre, a manufacturing facility, and numerous other cooperative projects. This approach aims to contribute to Vietnam's development and green transition."
PM Chinh affirmed that Huadian's long-term investment strategy in Vietnam is a right and timely choice, as well as welcomed the establishment of the R&D centre.
Vietnam is targeting a growth rate of 8.3-8.5 per cent this year and double-digit growth in the coming years, which means a significant demand for clean energy. Therefore, the PM encouraged the group to further expand its investment in Vietnam, especially in clean energy such as wind, solar, and hydrogen. He also urged the company to increase technology transfer, share management expertise, train local human resources, and cooperate with Vietnamese partners.
Jiangping added that Huadian also wants to share its experience and technology with Vietnam to improve the quality of construction and operation of renewable energy projects, contributing to stronger bilateral relations.
On the same day, PM Chinh met with Wang Jiashong, vice chairman of Yadea Technology Group. Yadea wishes to participate in e-vehicle development projects, auxiliary services, and transition initiatives contributing to Vietnam's green transportation drive.
Yadea has been the world's top e-motorbike manufacturer by global sales for eight consecutive years. The group currently operates 10 major manufacturing and R&D centres across various countries, with products distributed in over 100 countries and territories.
In 2019, Yadea invested in an electric motorbike factory in Quang Chau Industrial Park (formerly Bac Giang province). By 2023, the company had expanded the project, increasing its design capacity to two million vehicles per year. Phase 1 received an investment of $100 million. These projects have generated many local jobs and have a high localisation rate. Yadea has also established a Southeast Asia green energy R&D centre in Vietnam.
PM Chinh said, "Vietnam is pursuing economic restructuring and transforming its growth model towards sustainability, focusing on digital, green, and circular economies. Yadea should expand its investment in the e-vehicle sector in Vietnam, emphasising technology transfer, higher localisation, labour use, and contributions to Vietnam's green transportation shift."
In another meeting, the PM received Yang Weidong of China Design Group Co Ltd. PM Chinh suggested the company could provide consultancy and support to complete the Lang Son-Cao Bang Expressway project this year.
He also encouraged the group to collaborate with and support Vietnamese partners, including major groups, in fields such as transportation, electricity, oil, and gas, and digital infrastructure design and consultancy. "This is especially necessary, as many regions in Vietnam have complex terrain and geology, posing challenges to construction," the PM emphasised.
China Design is one of China's leading comprehensive technical consulting service providers. In 2014, the company was fully listed on the Shanghai Stock Exchange, becoming the first independent engineering design company to be listed on the A-share market.
The company has already set up a representative office in Vietnam and is cooperating with local company Deo Ca Group in building development models and strengthening training and resource development.
Weidong said, "The company is building a business and investment plan and will continue discussions with Vietnamese partners and authorities for implementation in the near future."
PM Chinh met with the Asian Infrastructure Investment Bank's (AIIB) leaders to discuss expanding cooperation on infrastructure connectivity, logistics, and socioeconomic development projects, with AIIB financing open to both state-owned and private enterprises.
The PM briefed AIIB president Jin Liqun and his team on Vietnam's development priorities, stressing the urgency of accelerating the Lao Cai-Hanoi-Haiphong railway linking Vietnam with China, and expanding Vietnam's electricity grid connections with ASEAN countries. He called on the AIIB to focus its resources on supporting these two strategic projects.
To boost the private sector's involvement, the Vietnamese leader urged the bank to continue financing key infrastructure projects and provide preferential loans with low interest rates and grace periods for Vietnamese companies. He also invited Jin to visit Vietnam in September 2025 for direct discussions with local partners.
Congratulating Vietnam on its recent socioeconomic achievements, Jin expressed confidence that with sound macroeconomic policies and effective mobilisation of external resources, Vietnam could achieve its double-digit growth target.
Sharing his profound affection for Vietnam, he agreed with the PM's proposals and pledged that the AIIB would continue to help Vietnam with major infrastructure projects, particularly in renewable energy and climate change response, through continued funding efforts.