Sunday, February 24, 2013

China, ASEAN Willing to Cooperate more on Hydropower

China, ASEAN Willing to Cooperate more on Hydropower

23 February 2013, Xinhua

The China International Water & Electric Corp. (CWE) will invest more in
hydropower projects in Association of Southeast Asian Nations (ASEAN)
member countries, the head of the company said Friday.

Wang Yu, president of CWE, said at a meeting with commercial counselors
from ASEAN countries that the company is eager to engage in more
hydropower projects and contribute to hydropower development in ASEAN

CWE was working on more than 30 contracting projects in ASEAN countries
by the end of 2012, according to Wang.

The counselors also welcomed CWE to invest more in their countries.

Ong Chong Yi, a counselor from the Malaysian Embassy to China, said that
compared with Malaysian investment in China, the latter's investment in
his country is quite small.

Bui Huy Hoang, a counsellor from the Embassy of Vietnam to China, said
he hopes more Chinese companies will invest in Vietnam.

Xu Ningning, executive secretary-general of the China-ASEAN Business
Council, said ASEAN countries have a similar cultural background to
China and it is easier for Chinese companies to do business there.

CWE is a state-owned company that specializes in international
hydropower construction and investment. The company is now operating in
about 30 countries and regions with total assets exceeding 10 billion
yuan (1.6 billion U.S. dollars).

Diplomatic officials in charge of commercial affairs from Laos,
Thailand, Malaysia, Cambodia, the Philippines, Vietnam and Indonesia
visited CWE on Friday to discuss further hydropower cooperation with China.

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