Daewoo E&C, Binh Duong seek cooperation for Vietnam's new city project

Jungheung Group Vice Chairman Jung Won-ju met with Vietnam's Binh Duong Provincial People's Committee Chairman Vo Van Minh to discuss potential investment in the Vietnamese region.

During the meeting at the headquarters of Jungheung subsidiary Daewoo Engineering & Construction on Thursday, the city asked for investment from Daewoo E&C, as Binh Duong is planning infrastructure and smart city projects along with new city development.

"Vietnam is the most important hub of Daewoo's overseas business, and Daewoo E&C is considering investing in Vietnam’s new city development and infrastructure projects that combine education, culture, and medical care," Jung said.

A key economic and industrial city, Binh Duong is the Vietnamese province which received the most foreign direct investment last year with about 800 Korean companies operating there.

"We highly appreciate the performance of the Starlake City project that Daewoo E&C is developing in Hanoi, Vietnam, and the company’s willingness to continue the investment,” Chairman Vo said.

Binh Duong has recently promoted investment in fields such as information technology and high technologies based on excellent location conditions, stable infrastructure, and business-friendly policies.

“Through a long-term friendly relationship between Daewoo E&C and Binh Duong, the company would like to contribute to more exchanges and cooperation between Korea and Vietnam,” Jung added.