Receiving Peng Gangping, chairman of the Board of Directors of CHEC in Hanoi on May 14, Chinh said Vietnam aims to achieve 8% economic growth this year and in the coming years, with electricity growth required to be 1.5 times that of GDP growth.

This is an uphill task, he said, noting that without sufficient electricity, sustainable development is impossible.

The PM said that since the beginning of the year, he has met with several Chinese enterprises across various sectors, including energy, to resolve challenges and facilitate smooth investment and business operations. He expected that Huadian, with a wealth of experience in energy development, would work alongside Vietnamese agencies to address existing difficulties.

Peng thanked the Vietnamese government and relevant ministries for their timely support, helping the firm operate effectively in Vietnam. He agreed with the PM on the need for electricity growth to fuel economic development, and shared that Huadian specialises in building and operating energy projects, aiming to become a leader in clean energy.

He welcomed Vietnam’s newly introduced policies that protect and encourage legitimate business interests and expressed full confidence in the country’s economic prospects. He identified Vietnam as a key market for Huadian’s energy development, with a focus on green growth and building a modern energy system.

Peng talked about Huadian’s business strategy, which includes establishing a management foundation; setting up a research and innovation centre in partnerships with Vietnamese universities; developing local manufacturing hubs; and successfully implementing cooperative projects. The company is also expanding investments into clean energy, carbon emission reduction, and renewable sources like wind and solar power.

According to the executive, Huadian has over the past decade invested in three power projects in Vietnam with a total capacity of 1,569 MW and a total investment of US$2.8 billion, making it the largest Chinese investor in the local energy sector.

The firm is actively working to complete the Dak Lak wind power project, currently at 128 MW capacity, and is engaging with local authorities across Vietnam to develop additional projects, especially those involving energy technology innovation.

The company is committed to partnering with Vietnamese businesses to produce hydrogen, enhance energy storage, and cut emissions, he said, adding it plans to pursue innovative models and strengthen cooperation with Vietnamese universities through exchanges and training, further promoting Vietnam–China energy cooperation.

Peng expected that the Dak Lak wind power project would become an exemplary model of Vietnam–China energy cooperation.

Established in 1978, China Huadian Engineering Co., LTD. is a wholly-owned subsidiary of China Huadian Corporation LTD. Its business covers a wide range of fields including power, chemicals, ports, mining, metallurgy, municipal services, new energy, hydrogen energy, energy storage, biomass energy, and integrated energy services, with operations across China, Southeast Asia, Europe, America, Australia, among others.

Work begins on US$319 million auto factory by Geleximco and Chinese partners in Thai Binh

VOV.VN - The consortium led by Vietnam's Geleximco Group and its Chinese partners on May 12 broke ground on the GEL-O&J auto manufacturing plant at Hung Phu Industrial Park in Tien Hai District, Thai Binh province.