Aug 7, 2010. Up to 90 percent of Vietnam’s Engineering – Procurement -Construction (EPC) projects are in the hands of Chinese contractors, said Pham Thi Loan of the National Assembly’s Finance and Budgets Committee.
Most of these projects pertain to oil and gas, chemicals, power, and textiles, Loan said at the conference.
Up to 30 Chinese companies have secured contracts for the country’s major projects, including energy deals worth of billions of dollars, according to VNExpress.
Economics expert Bui Kien Thanh attributes the dominance of Chinese contractors to complex bidding specifications. The large projects often require bidders to meet international standards. At the moment, he says very few Vietnamese companies are eligible for these jobs.