On August 27, 2026, in Hanoi, Deputy Minister of Construction Nguyen Danh Huy received and held a working session with Mr. Chen Huaiyu, Chairman of the Board and Chief Executive Officer of the Export-Import Bank of China (China Eximbank), and his delegation to discuss cooperation and promote the implementation of projects expected to be financed by China Eximbank, with a particular focus on the Lao Cai - Hanoi - Hai Phong railway project.
At the meeting, Mr. Chen Huaiyu thanked Deputy Minister Nguyen Danh Huy and leaders of the Ministry of Construction’s affiliated agencies for taking the time to receive and meet with the delegation.
The China Eximbank was established in 1994 as a state-funded policy bank of China under the leadership of the State Council of the People’s Republic of China. It is mandated to support China’s economic development, trade, investment, and international economic cooperation, Huy said..
China Eximbank has an international credit rating equivalent to China’s sovereign credit rating and also administers certain loans, concessional loans, and foreign aid provided by the Chinese Government. In Vietnam, China Eximbank serves as the negotiating and signing agency for loan agreements under the Chinese Government’s concessional loans, buyer’s credits, and export credits, including the Cat Linh - Ha Dong urban railway project (Line 2A).
Deputy Minister Nguyen Danh Huy receives Chen Huaiyu, Chairman of the Board and Chief Executive Officer of the Export-Import Bank of China.
Speaking at the meeting, Deputy Minister Nguyen Danh Huy emphasized that the Lao Cai - Hanoi - Hai Phong railway project is a major transport infrastructure project of Vietnam, contributing to enhanced transport connectivity, socio-economic development, and cooperation between the two countries.
The Deputy Minister noted that, at the second session of the Vietnam-China Joint Committee on Railway Cooperation held in June 2026, the Chinese side announced that China Eximbank would serve as the focal point on the Chinese side to coordinate with Vietnam in maintaining dialogue, reaching early agreement on the financing, and accelerating negotiations on the framework agreement and loan agreements for the Project.
Regarding the implementation of the Project, Huy said that the Ministry of Construction is urgently coordinating with relevant agencies on the selection of a technical design consultancy, determination of funding requirements, and the Project model. Accordingly, the Ministry of Construction expects the Project to be implemented under a model that leverages the capabilities of Vietnamese and Chinese enterprises, creating favorable conditions for Vietnamese enterprises to participate more deeply in the implementation process, gradually enhance their capabilities, and move toward mastering the construction, operation, management, maintenance, servicing, and repair of the railway after the Project is completed.
Mr. Chen Huaiyu affirmed that China Eximbank would accelerate the review process for loans applicable to the Lao Cai - Hanoi - Hai Phong railway construction investment project, making effort to reduce interest rates to the greatest extent possible in order to help lower investment costs. The Bank is also ready to support the connection with and introduction of capable Chinese enterprises specializing in equipment supply to Vietnam. China Eximbank will actively support efforts to develop the Lao Cai - Hanoi - Hai Phong railway project into a model of exemplary cooperation, contributing to the realization of the orientations and directives of the senior leaders of the two countries.
The Deputy Minister called on China Eximbank and relevant Vietnamese agencies and organizations to continue close coordination and accelerate the assessment and appraisal of documents related to the Project, thereby providing a basis for arranging loan financing in line with the investment policy approved by the National Assembly of Vietnam.
The Deputy Minister also emphasized that the implementation of the Project must ensure effectiveness and be consistent with the agreements between the two countries, making a practical contribution to strengthening Vietnam–China cooperation within the framework of the Vietnam - China Community with a Shared Future.
At the conclusion of the meeting, Deputy Minister Nguyen Danh Huy and Mr. Chen Huaiyu, Chairman of the Board and CEO of China Eximbank, expressed their confidence that the two sides would continue to closely coordinate, and arrange financing to implement the Lao Cai - Hanoi - Hai Phong railway project as scheduled.
Both sides expressed their expectation that the Project would become a key transport infrastructure project, contributing to meeting Vietnam’s infrastructure development needs, strengthening connectivity, and enhancing the country’s technological and construction capabilities, while also serving as a typical infrastructure cooperation project between Vietnam and China.
Source: International Cooperation Department - Translated by: M.A