In a significant move that could reshape the infrastructure landscape of Dak Lak province in Vietnam, Pacific Construction Group (CPCG), a prominent Chinese infrastructure developer ranked among the Fortune Global 500 companies, has announced its intention to invest at least $3.5 billion in various transport, urban, and industrial infrastructure projects. This investment trajectory underscores CPCG’s commitment to strengthening its footprint in Southeast Asia, particularly in Vietnam.
On March 12, 2026, provincial leaders engaged in discussions with a CPCG delegation to explore potential collaboration and investment opportunities aimed at bolstering local infrastructure. The meeting took center stage with Yan Jiehe, the founder of CPCG, expressing keen interest in projects that align with the company’s core competencies, such as transportation infrastructure, urban development, irrigation systems, and the establishment of industrial parks.
Should this collaboration materialize, CPCG’s investment in Dak Lak over the next five years is projected to be no less than $3.5 billion. This venture will potentially be structured under models like EPC (Engineering, Procurement, and Construction) and PPP (Public-Private Partnerships), which integrate construction efforts with long-term operation and maintenance plans, creating a robust framework for sustainable development.
CPCG has particularly zeroed in on two major transport projects in the region. The first is the Dak Lak-Phu Yen Expressway (CT.23), which boasts an estimated investment of VND30.98 trillion (approximately $1.18 billion). The second is the western section of the North-South Expressway, comprising the Pleiku-Buon Ma Thuot-Gia Nghia segment that traverses through Dak Lak. These projects are pivotal for boosting connectivity and transportation efficiency in the Central Highlands, enhancing economic prospects in the area.
Ta Anh Tuan, Chairman of the Dak Lak People’s Committee, receives Yan Jiehe, founder of Pacific Construction Group, in the province, central Vietnam, March 12, 2026. Photo courtesy of Dak Lak’s news portal.
Ta Anh Tuan, Chairman of the Dak Lak People’s Committee, welcomed CPCG’s interest, emphasizing the value of potential investments in key sectors like transportation and urban development. He articulated that these sectors are crucial for driving the province’s economic growth in the forthcoming years. Furthermore, he noted that the western section of the North-South Expressway falls under the jurisdiction of central government authorities. Consequently, Dak Lak’s government would assist by providing necessary information to ensure CPCG can engage effectively with the relevant authorities.
The Dak Lak-Phu Yen Expressway, currently under consideration for development via a public-private partnership model, is seen as vital for improving connectivity between the Central Highlands and Vietnam’s southern coastal regions. Tuan extended an invitation for capable investors to propose suitable investment plans that align with government regulations.
As discussions on collaboration progress, Tuan underscored the importance of ensuring that the technical teams from both sides continue working meticulously on the project’s nuances. This commitment aims at facilitating a smooth transition towards a formal agreement, including the possibility of signing a Memorandum of Understanding (MoU) in compliance with Vietnamese legal standards.
The recent administrative changes—culminating in the merger of Phu Yen and Dak Lak provinces in July—further position Dak Lak at a strategic advantage. Bordered by Gia Lai, Khanh Hoa, Lam Dong, Cambodia, and the East Sea, the province stands on the brink of transformation, fueled by robust infrastructure development.
Founded in 1986, Pacific Construction Group has made significant strides in the global infrastructure sector. As one of the world’s leading infrastructure developers, CPCG ranks among the top 500 enterprises and is acknowledged as one of China’s largest private conglomerates. With superior contractor qualifications in various areas, including highways, urban development, and industrial construction, the group has successfully managed over 1,000 cities and developed more than 3,000 urban and industrial zones globally through diverse cooperation models such as BT, BOT, EPC, and PPP.
In Vietnam, CPCG has previously demonstrated its commitment to investment by signing a MoU with the Hanoi government covering the 2023-2027 period, with proposed investments exceeding $5 billion. This collaboration encompasses several major infrastructure projects, including the Tu Lien Bridge, Ngoc Hoi Bridge, and Hanoi Metro Line 5, showcasing the group’s capacity to significantly contribute to Vietnam’s infrastructure enhancement.