On January 18th, Pacific Construction signed a Memorandum of Understanding with the Hanoi Department of Transport and the Vietnam Construction and Import-Export Joint Stock Corporation (Vinaconex) in Hanoi, Vietnam. The agreement includes the construction of Hanoi's Light Rail Line 5 and the Red River Bridge, with a total investment of 85 trillion VND, equivalent to 35 billion RMB. Pacific Construction will leverage its resources, expertise, and capital advantages to drive the investment, construction, and research cooperation of these key projects in Hanoi. 
 

 

Yan Jiehe, Founder of Pacific Construction (ranked 157th in the Fortune Global 500 in 2023) and Susun Group (ranked 313th in 2023) and Chairman of the Zhuangyan Think Tank; Yang Dejun, Member of the Hanoi Municipal Party Committee and Vice Mayor; and Tao Yuqing, Chairman of the Board of Directors of Vinaconex, attended the signing ceremony. The Memorandum of Understanding was signed by Wu Jing, Chairman of Deep Blue International and Chairman of Pacific Vietnam, Nguyen Phi Thuong, Member of the Hanoi Municipal Party Committee and Director of the Department of Transport, and Duong Van Mau, Executive Deputy General Manager of Vinaconex, on behalf of the three parties.
 

 

Pacific Construction, Susun Group, and Zhuangyan Think Tank hold multiple general contracting and first-class professional contracting qualifications in national highways, municipal projects, water conservancy, and construction. They pioneered the BT model and have participated in the investment, construction, operation, and management of over 1,000 cities and 3,000 parks globally through BT, BTO, FEPCO, and other models, making them the largest urban operator in China and the top global private construction enterprise for over a decade.

From December 12th to 14th last year, President Xi Jinping visited Vietnam, where China and Vietnam announced their intention to deepen the comprehensive strategic cooperative partnership and build a community with a shared future. Under this policy guidance, Pacific Construction, together with China Railway Engineering Corporation and Shenzhen Metro Group, responded to the national call to engage in international competition, promoting the high-level development of China's infrastructure industry, supporting China's economic transformation and high-quality development, and serving the "dual circulation" new development pattern.
 

 

At the signing ceremony, Yan Jiehe stated, "The friendship between nations lies in the affinity between their people, and the affinity between people lies in the connection of their hearts. We build our relationships on trust and mutual benefits. We aim to transform Hanoi from within and extend its growth across the Red River, making it a central feature of the city, much like the Huangpu River in Shanghai. Through scientific planning, we can expand the economic volume, optimize the economic structure, and comprehensively enhance Hanoi's high-quality development." He introduced that the company has always adhered to the principle of focusing on the market rather than bureaucratic connections, ensuring rapid project progress, high quality, low cost, minimal conflicts, and high efficiency. All funds, equipment, and personnel are entirely self-owned, making the company unique in the global construction industry with zero subcontracting, zero secondary contracting, zero transfer contracting, zero internal friction, zero corruption, and zero substandard or abandoned projects. He expressed his confidence in entering and deeply engaging with the Vietnamese market as China's market-oriented, legal, and international processes deepen. Last year, during his exchange with Prime Minister Pham Minh Chinh, they discussed their shared concern for Hanoi's water management. Through the development of a scenic greenway along both sides of the Red River, integrating sound, light, electricity, and gas, they aim to achieve greening, beautification, and purification along the river.
 

 

Yan Jiehe Meets with Vietnamese Prime Minister Pham Minh Chinh



Yan Jiehe Meets with Ding Dinh Dung, Member of the Politburo of the Communist Party of Vietnam and Secretary of the Hanoi Municipal Party Committee
 

In 2023, Yan Jiehe had multiple dialogues with high-ranking Vietnamese officials. On January 14th, he met with Vietnamese Prime Minister Phạm Minh Chính to outline cooperation plans. On June 28th, at the invitation of Prime Minister Phạm Minh Chính, Yan attended and delivered the keynote speech at the China-Vietnam Economic and Trade Cooperation Forum in Beijing. On September 26th, he met with Đinh Tiến Dũng, Member of the Politburo and Secretary of the Hanoi Municipal Party Committee, in Guangzhou, and subsequently spoke at the Vietnam-Hanoi Investment, Trade, and Tourism Promotion Conference in China. On October 27th, he was invited to Hanoi, where he had further discussions with Đinh Tiến Dũng and Vice Mayor Yang Dejun. These extensive interactions laid a solid foundation for the successful signing of the Memorandum of Understanding.