Hanoi, July 16, 2024, Coteccons Construction Joint Stock Company (HoSE: CTD) and Daewoo Engineering & Construction Co., Ltd. signed a memorandum of understanding on international cooperation with the aim of jointly developing potential project opportunities in the construction sector in the global market (including Vietnam).
Representative of Daewoo E&C (right) and representative of Coteccons (left) at the MOU ceremony
Accordingly, Daewoo and Coteccons will cooperate in large-scale EPC (engineering, procurement, and construction) projects in Vietnam released by the public sector or government-related entities, as well as other EPC projects in the global market where Daewoo participates as the main contractor and intends to subcontract a certain part of the works.
Daewoo and Coteccons will cooperate in EPC projects globally
Established in 1973, Daewoo E&C has contributed to the economic development of Korea as well as the world and is a leading enterprise in the construction industry in Korea. With passion, dedication, continuous innovation, and modern technology, Daewoo E&C has successfully invested in and developed many quality projects globally, including architectural, civil engineering, petrochemical, and power generation activities. In addition, Daewoo E&C has chosen Vietnam as a key market to expand its business, realize real estate development projects, and contribute to creating a modern and spacious urban appearance for Vietnam.
Speaking at the signing ceremony, Mr. Jung Won Ju, Chairman of the Board of Directors of Daewoo E&C, expressed: "Today's signing ceremony is a remarkable milestone for the cooperation between Daewoo E&C and Coteccons. In the international market, we are constructing factories and infrastructure projects. In Vietnam, we consider this a key market to expand the construction market, build new cities, develop cold storage and data centers using LNG refrigeration, pursue investment projects, and build shares in the fields of LNG power plant business and renewable energy. We hope that this memorandum of understanding will open opportunities for both companies to cooperate overseas in various fields such as construction and real estate development, infrastructure, and factory construction business, contributing significantly to building the value chains of our group."
The MOU signing ceremony will open opportunities for both companies to cooperate overseas in various fields
The cooperation between Daewoo and Coteccons promises to have positive impacts, marking the companionship of two leading construction enterprises in Korea and Vietnam on the journey to create green, clean, sustainable, safer, more comfortable, and more meaningful wonders.
Daewoo and Coteccons will jointly build a prosperous, sustainable, and comprehensive future.
Mr. Bolat Duisenov, Chairman of the Board of Directors of Coteccons, shared: “At Coteccons, we are always consistent with our vision and mission: to build a brand that is both an industry leader and a global brand. We are committed to driving innovation in the Vietnamese construction industry, reshaping the industry, and redefining core standards, even in the context of the economic downturn and the challenges of negative competition. We aim for long-term sustainability, ensuring that business interests coexist harmoniously with environmental and social responsibilities. The MOU marks an important milestone in Coteccons' journey as it formalizes a strategic partnership with Daewoo E&C. Operating on the principles of transparent cooperation and mutual benefit, I believe that this cooperation will bring about important achievements and set new standards in the construction industry to jointly build a future that is not only prosperous but also sustainable and comprehensive.”
The representatives of the 2 parties at the ceremony
The signing ceremony with Daewoo E&C shows Coteccons' capacity and readiness in the international arena. This cooperation is not only an extension that brings benefits to both companies but also benefits the Vietnamese market and the global market with high-quality products, creating great and positive values that both companies cooperate to build.
ABOUT DAEWOO ENGINEERING & CONSTRUCTION CO., LTD.
Daewoo E&C, a leading company in the construction industry in Korea, is realizing the best value for customers through dedication and continuous challenges with passion, improvement, and innovation based on the best technology and quality. Daewoo E&C has always been present at historical moments as a key factor in the past half century of rapid economic growth in Korea. In addition, Daewoo E&C is also positioned as a leader in the global construction market. In the future, Daewoo E&C will create new opportunities by preparing thoroughly for the creation of the best corporate value and a better future for humankind.
ABOUT COTECCONS CONSTRUCTION JSC
Established in 2004, Coteccons has become a leading construction company in Vietnam. The company has grown both in size and reputation by implementing world-class projects in diverse fields such as residential, commercial, hotel, infrastructure, and industrial. Constantly improving and developing, Coteccons owns four unique and different values, called “COTECCONS INSIDE,” which have created prestige and brand. Specifically, Coteccons upholds its commitment to environmental sustainability in all projects, service and product diversification, customer experience focuses and values in the process of operation, and business cooperation.
