A Chinese 'tycoon' wants to invest in an elevated railway in Vietnam
At a working session with Deputy Minister of Transport Nguyen Ngoc Dong in early August, Mr. Tran Hieu Hoa, Vice President in charge of international affairs of China Cat Chau Ba Group Joint Stock Company (CGGC), expressed his desire to cooperate in the field of transportation.
Mr. Tran Hieu Hoa said, CGGC is a Chinese state-owned enterprise, participating in the design, construction, investment, and operation of energy projects such as: irrigation, hydropower, thermal power; transportation projects such as: highways, railways, bridges, airports, ports, irrigation, hydropower... CGGC was established in 1970, currently has branches related to 136 countries.
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| A Chinese “tycoon” wants to invest in an elevated railway in Vietnam |
“Vietnam is a country with stable development, a potential environment for foreign investors to place their trust in investing in Vietnam. CGGC wishes to participate in investing or bidding for projects on highways, elevated railways and subways in Vietnam,” said Mr. Tran Hieu Hoa.
Deputy Minister Nguyen Ngoc Dong said that Vietnam is focusing on developing infrastructure, considering infrastructure development as one of three strategic breakthroughs, however capital resources are still limited.
“Therefore, the Vietnamese Government welcomes and calls on domestic and foreign enterprises and investors, including CGGC, with its strengths, to participate in investing in Vietnam's transport projects under the PPP model or as construction contractors,” said Deputy Minister Dong.
Regarding specific projects, Deputy Minister Dong suggested that CGGC work directly with relevant agencies of the Ministry of Transport to be provided with information about the projects, on that basis, research and select proposals for projects that it wishes to participate in. The Ministry of Transport will consider and discuss specifically.
Recently, a number of Chinese enterprises have won bids and participated in the construction of traffic projects in Vietnam.
However, the 2016 performance results of construction contractors participating in traffic construction projects using state budget capital recently announced by the Ministry of Transport show that many enterprises from China had many construction errors in one bid package, even 8-20 errors in bid packages. Typical examples include China Railway 6th Group, Guangxi Road and Bridge Construction Corporation... |
According to Kieu Linh/vneconomy
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