Daewoo E&C expresses intentions to expand operations in Vietnam

December 17, 2021 | 13:38

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Daewoo Engineering & Construction (Daewoo E&C) signed an MoU with the International Cooperation Bureau under the Ministry of Planning and Investment on December 15 to support Vietnam’s urban development and industrial development.

Daewoo E&C expresses intentions to expand operations in Vietnam

Daewoo E&C is developing Starlake City in Hanoi

At a meeting with the National Assembly Chairman Vuong Dinh Hue, Daewoo E&C president Kim Hyung expressed the corporation's interest in co-operating with Vietnam’s party to actively expand its investment in the Vietnamese market and rev up the local economy.

The South Korean real estate developer also signed an MoU with Hai Duong province to develop industrial complexes and neighbouring areas. Hai Duong is 58km away from Hanoi and is a key railway hub between Hanoi and Haiphong, a port city.

Daewoo E&C, through its 100 per cent owned subsidiary THT Development Co., Ltd., is developing Star Lake City in Hanoi. The project involves building two 35-story edifices, which would accommodate a hotel, serviced residences, business offices, and retail facilities, in B3CC1 Block. The construction is expected to complete in 2024.

A Daewoo E&C official said, "The group entered the Vietnamese market even before the official establishment of diplomatic ties. We are pursuing continuous expansion. Through this MoU, it is expected that the pace will be further accelerated.”

Daewoo E&C Vina, founded on January 5, 2017, is the official legal entity of Daewoo E&C Corporation in Vietnam.

It is the developer of a series of projects namely Starlake Housing Gallery, Starlake THT Vina, and Hanoi Daewoo Hotel & Daeha Business Centre.

By Ha Vy

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