At the signing ceremony, the two sides agreed on cooperation principles based on mutual benefit, in compliance with international treaties to which Vietnam and China are parties, as well as Vietnam’s current laws.
Under the MoU, the two sides will strengthen experience information exchange in the field of urban infrastructure. Priority will be given to research in smart transportation, centralized traffic management centers, and the development of clean-energy vehicles. The two sides also aim to establish an integrated electronic ticketing system and contactless fare cards for public transport, to modernize the way people commute.
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Chairman of the People's Committee of Ca Mau province, Lu Quang Ngoi (left), and founder of China's Pacific Construction Group Yan Jiehe, sign a memorandum of cooperation. |
The Chinese company has pledged to share information and invest in urban railway projects aligned with the master plan, as well as develop smart parking systems and other technical infrastructure upgrades. The partnership will follow EPC (Engineering–Procurement–Construction) and PPP (Public-Private Partnership) models, ensuring a comprehensive approach to construction, operation, maintenance, and upkeep.
PCG will assist Ca Mau in developing mechanisms and policies to mobilize diverse investment resources for transportation infrastructure. It will also collaborate with the Vietnamese locality to implement a series of investment promotion activities with domestic and international companies, facilitate the introduction of businesses to operate in the province, and contribute to the economic development of Ca Mau.
Notably, PCG has pledged to promptly establish a fully independent subsidiary in Ca Mau, ensuring strict compliance with all financial obligations and legal requirements, while directly contributing to the province’s economic development. The firm confirmed that its total investment over the next five years will reach at least 5 billion USD.
Addressing the signing ceremony, Yan Jiehe, founder of PCG, emphasized that the firm has extensive experience executing major projects in Vietnam with a highly skilled team of experts. He pledged to complete projects ahead of schedule while maintaining the highest quality standards, quickly putting them into operation to deliver economic benefits to the locality.
He affirmed that establishing its office in Ca Mau demonstrates the group’s strategic vision, recognizing the province’s vast potential.
Nguyen Ho Hai, Secretary of the provincial Party Committee, expressed his appreciation for PCG’s decision to establish its office in Ca Mau, stressing that national key projects currently being invested in the locality will serve as a springboard for its rapid development in the near future.
He also voiced strong support for the MoU’s contents, especially emphasizing the anticipation for a railway linking Ho Chi Minh City, Can Tho, and Ca Mau.
To ensure the effectiveness of the cooperation program, Ca Mau province will establish a coordination team to regularly discuss and promote signed initiatives and report to the group’s leadership and the Chairman of the provincial People’s Committee for review and direction.
Hai requested that the Chinese firm pay attention to social welfare in the locality, particularly supporting the ethnic Chinese community in difficult circumstances.
Chairman of the provincial People’s Committee Lu Quang Ngoi spoke highly of PCG’s capability and strong commitments, pledging to create all favorable conditions for the effective implementation of the MoU. He also expressed his hope that the group will contribute its valuable experience in adjusting transportation infrastructure planning, helping Ca Mau develop a modern and integrated transport system.
The partnership is expected to spark a new wave of investment, boost the transportation infrastructure in the Southernmost region, and open up opportunities for modern and sustainable urban development.
Source: VNA