Daewoo E&C signs cooperation partnership with Vietnamese builder for construction projects in Vietnam
26 August 2019
Daewoo Engineering & Construction Co., a major builder in South Korea, said Monday it has signed a partnership with a Vietnamese builder to tap deeper into the Southeast Asian market.
Daewoo E&C signed a memorandum of understanding (MOU) for mutually beneficial long-term business with the state-owned Construction Corporation No. 1 JSC (CC1) on Friday to cooperate on construction projects in Vietnam.
Daewoo E&C said the deal will help expand its presence in Vietnam.
Last December, the company signed an agreement with CC1 to establish a joint venture to enter construction equipment rental business. Daewoo E&C said the joint venture will be established no later than this year and will expand its business to Laos and Cambodia.