Doosan Heavy Industries & Construction Co. has recently signed a memorandum of understanding (MoU) with its five partners at its Vietnamese operation Doosan Heavy Industries Vietnam Co. (Doosan Vina) to help them enter the Vietnamese market.
| The Memorandum of Understanding was, rather symbolically, signed in Vietnam, at Doosan Vina |
Doosan Heavy will provide consultancy services on administration, financial management, and business management to support the partners to establish their subsidiaries or manufacturing facilities at the site of the Doosan Vina plant.
It will also enter into negotiations with the local authorities to help the partners receive benefits, like tax cuts and other incentives.
| Kim Myung Woo, president of Doosan Heavy Industries (center) with Yeon In Jung, CEO & general director of Doosan Vina (second from the left), and five directors of Korean companies |
The power generation market in Vietnam has strong growth potential as the country is expected to add new facilities, generating 100GW of energy by 2030.
“We will expand our support beyond Vietnam to India to help our partners start business there as well,” said Kim Myung-woo, chief executive of Doosan Heavy.
By Phuong Linh / VIR
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