Business

Vinaconex seals cooperation deal with foreign partner

The Vietnam Construction and Import-Export JSC (Vinaconex) and Hyundai Engineering & Construction Co. Ltd (Hyundai E&C), a subsidiary of the RoK-based Hyundai Motor, signed a memorandum of understanding on project development in Hanoi on May 20.
Vinaconex seals cooperation deal with foreign partner ảnh 1 At the signing ceremony of the MoU between Vinaconex and Hyundai E&C (Photo: VNA)

Hanoi (VNA) – The Vietnam Construction andImport-Export JSC (Vinaconex) and Hyundai Engineering & Construction Co.Ltd (Hyundai E&C), a subsidiary of the RoK-based Hyundai Motor, signed amemorandum of understanding on project development in Hanoi on May 20.

The two sides said they will engage in specific jointactivities to realise the mutually beneficial collaboration.

Executive Vice President of Hyundai E&C Vincent Seo SangHoon said it is his company’s first cooperation deal sealed with a Vietnamesesubcontractor. Currently, the company has signed collaboration pacts with about5,000 subcontractors in other countries.

Vinaconex Chairman Dao Ngoc Thanh noted that the foreignpartner wants to not only team up with Vinaconex in Vietnam but also be able toreach foreign markets together.

According to Thanh, the two companies will introduce potentialprojects to each other and jointly study the feasibility of their cooperationfor a project.

Vinaconex owns and manages about 3.2 million sq.m of land inVietnam, covering its 16 construction projects. Of the total land area, thecompany is renting some 3 million sq.m of land to construct seven projects.

Established in 1947, Hyundai E&C was listed among theworld top 25 construction firms by the US magazine Engineering News-Record. Ithas so far set up representative offices in over 16 countries, includingVietnam.

In Vietnam, Hyundai E&C has participated in a number ofprojects, such as the Mong Duong 1 thermo power plant in Quang Ninh province,Bitexco Financial Tower in Ho Chi Minh City, and Song Gia Golf Resort in HaiPhong City.–VNA 
VNA
#Vietnam Construction and Import-Export JSC #Hyundai Engineering & Construction Co. Ltd #Vinaconex Hyundai E&C #Vinaconex #Hyundai E&C #Vincent Seo Sang Hoon #Dao Ngoc Thanh #Vietnam News Agency #vietnamplus
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