Beijing: China has offered loans and technology to develop railway projects in Vietnam.
According to Thai News Agency, the Chinese government has proposed expanding cooperation with Vietnam in railway infrastructure development, encompassing loans, technology, training, and industrial capacity building.
A joint statement released today by the Chinese Foreign Ministry indicated that the Chinese government will encourage private sector participation in railway construction projects in neighboring countries. The statement follows a meeting between President Xi Jinping and Vietnamese President To Lam on Wednesday, where both sides viewed railway cooperation as a "new highlight" in their strategic relationship, aligning with the policies of both leaders to enhance transportation and logistics connectivity.
Vietnam is currently a key partner in China's Belt and Road Initiative, which focuses on building a transportation network connecting Asia and Europe. Many projects are funded through loans and investments from Chinese state-owned financial institutions. President Xi Jinping told President To Lam, who was about to conclude his first foreign visit since taking office last week, that both countries should maintain strategic clarity and prioritize political stability.
China's official Xinhua news agency reported that during Mr. To Lam's visit to China, 32 cooperation documents were signed, including agreements on the feasibility study of a railway project and human resource development in related fields. In addition, both countries will strengthen relations in other areas such as aviation, security, technology, new energy, and key minerals. This week, Vietjet Air signed a lease-purchase agreement with China's SPDB Financial Leasing to purchase 10 C909 narrow-body aircraft from COMAC, a Shanghai-based manufacturer.