China’s Pacific Construction Group (PCG) has pledged to promptly establish a fully independent subsidiary in the southernmost province of Ca Mau, with total investment over the next five years estimated at no less than $5 billion.
The commitment was made under a memorandum of understanding (MoU) on strategic cooperation signed between the Ca Mau provincial People’s Committee and the group on January 13.
Under the MoU, the two sides will also strengthen cooperation in planning and developing the urban railway network and implementing a transit-oriented development (TOD) model, which integrates urban development with public transport systems around railway stations.
At the signing ceremony, both parties agreed to pursue cooperation based on mutual benefit, in compliance with international treaties to which Vietnam and China are signatories, as well as Vietnam’s current laws.
Google translate