SCIC welcomes and holds working session with China Merchants Group (CMG)

HANOI, Viet Nam, November 4, 2025 - At the SCIC headquarters, Mr. Nguyen Chi Thanh, Secretary of the Party Committee and Chairman of the Board of the State Capital Investment Corporation (SCIC), hosted and held a working session with a delegation from China Merchants Group (CMG), led by Mr. Miao Jianmin, Chairman of the Group.

Overview of the working session

Attending the meeting on behalf of SCIC were Mr. Nguyen Chi Thanh - Secretary of the Party Committee, Chairman of the Board; Mr. Nguyen Quoc Huy, Deputy Secretary of the Party Committee, Board Member, and General Director; Mr. Le Thanh Tuan - Deputy General Director; and representatives from SCIC’s functional departments.

From the partner side, attendees included Mr. Miao Jianmin - Chairman of the Group, Mr. Feng Boming - Deputy General Manager of the Group, and other leaders from CMG; as well as leaders from CMG's member companies (Sinotrans HK, China Merchants Shekou, China Merchants Energy Shipping, Sinovitrans).

Representing Vietnamese enterprises were leaders from Vinafood1, Vietnam Railways Corporation (VNR), and representatives from the leadership of SCIC's portfolio companies: Bao Minh Corporation; Military Commercial Joint Stock Bank (MB); and Vietrans.

Mr. Nguyen Chi Thanh – Secretary of the Party Committee, Chairman of the Board, delivers remarks at the meeting

At the working session, SCIC Chairman Nguyen Chi Thanh welcomed Mr. Miao Jianmin and the CMG delegation. He expressed his appreciation for the excellent Comprehensive Strategic Cooperative Partnership between Vietnam and China. In 2024, the total import-export turnover between Vietnam and China reached US$205.2 billion. Regarding investment, as of August, China has 5,963 investment projects in Vietnam with a total registered capital of US$33.77 billion. Chairman Nguyen Chi Thanh expressed his hope that in the future, CMG and Chinese enterprises, in general, will continue to explore, share opportunities, and cooperate on investments in Vietnam.

Speaking at the reception, China Merchants Chairman Miao Jianmin thanked the SCIC Chairman and members for their time. He emphasized: Vietnam is a friendly neighbor, a "comrade and brother" of China. The two countries are geographically adjacent, culturally similar, have close people-to-people ties, similar political systems, and share a common destiny. Recently, General Secretary and President of China Xi Jinping visited Vietnam, setting the direction for promoting the construction of a strategically significant community with a shared future, bringing China-Vietnam relations into a new phase.

In recent years, economic and trade cooperation between the two countries has continuously strengthened: China has been Vietnam's largest trading partner for 21 consecutive years, while Vietnam has become China's largest trading partner in ASEAN and its fourth-largest trading partner globally.

He also highlighted that in 2010, Vietrans (under SCIC's management) and China Merchants Sinotrans established the Sinovitrans joint venture. This serves as a foundation for promoting stable and reliable cooperation and is a link for expanding cooperation in the future.

Mr. Miao Jianmin - Chairman of CMG, delivers remarks at the meeting

During the session, Mr. Miao Jianmin also introduced CMG to SCIC, including its structure, operational model, and outstanding business results in recent years. CMG is a key state-owned enterprise directly under the central government, with a history of over 150 years. It is a comprehensive state-owned conglomerate and a central enterprise headquartered in Hong Kong. Established in 1872, CMG currently focuses on four main areas: infrastructure connectivity, a global port network, integrated international shipping & logistics, and overseas industrial park development.

CMG also expressed interest in potential cooperation in areas such as: technology transfer, investment research for projects in railway transport, seaports, aviation, logistics, and digital transformation, including digital banking and artificial intelligence (AI). In recent years, China has identified human resources as the foundation for long-term development, comprehensively promoting the AI industry. China is currently a global leader in large-scale AI development. China's strength lies in the practical application of AI, and the future development of AI will create a turning point and also be a key differentiator in the international market.

Additionally, Mr. Miao Jianmin mentioned investments in projects related to agricultural products for export to the Chinese market, creating a related supply chain including warehousing, cold storage, and inspection.

In response to CMG's proposals, SCIC Chairman Nguyen Chi Thanh stated that the current economic and trade relationship is not yet commensurate with the potential of both sides. He shared and introduced CMG to opportunities for deeper cooperation, such as investing in enterprises on SCIC's divestment list, or cooperating directly with SCIC's portfolio companies on projects of mutual interest. These include the Cai Mep seaport project; the Lao Cai - Hai Phong railway project; cooperation in the finance and banking sector with Military Commercial Joint Stock Bank (MB) and Bao Minh Corporation; cooperation in the food sector with Vinafood1 and Vinamilk; cooperation on AI applications for green transition and digital transformation with FPT; as well as the possibility of direct cooperation between SCIC and CMG to exploit these opportunities. The SCIC Chairman also affirmed that SCIC is ready to act as a bridge, supporting and creating the most favorable conditions for long-term cooperation.

Mr. Miao Jianmin, Chairman of CMG, and Mr. Nguyen Chi Thanh, Chairman of SCIC

Concluding the meeting, CMG Chairman Miao Jianmin thanked SCIC for the warm hospitality. He stated that the two sides will continue to support and share experiences with each other and invited Chairman Nguyen Chi Thanh and SCIC's leadership to visit and work at CMG's headquarters. On behalf of SCIC, Mr. Nguyen Chi Thanh extended his sincere thanks to the CMG delegation for the practical and useful information shared, which is beneficial for the operations and cooperation prospects between SCIC and CMG. He also expressed his desire for the two sides to frequently exchange information and promote investment opportunities, aiming to realize sustainable economic development goals.

The delegations from both sides take a commemorative photo