Representatives of South Korea’s Doosan Heavy Industries & Construction Company and partners agree on Vietnamese market accessing. — Photo courtesy Doosan Vina

South Korea’s Doosan Heavy Industries & Construction Company signed a Memorandum of Understanding (MoU) with five partners at its Vietnamese operation Doosan Heavy Industries Viet Nam Company (Doosan Vina) to help them enter the Vietnamese market, the company said.

As per the June 18 agreement, Doosan will provide consulting on administration, financial management and business management to support the partners to establish their subsidiaries or manufacturing facilities at the site of Doosan Vina plant.

It will also enter into negotiations with local authorities to help the partners receive benefits like tax cuts.

The power generation market in the Southeast Asian country has a strong growth potential, as the country is expected to add new facilities generating 100 gigawatts of energy by 2030.

Doosan Vina, situated in the Dung Quat Economic Zone in Binh Son District of the central province, is a high-tech industrial complex with nearly 2,500 employees, supplying mega infrastructure products for thermal power plants, desalination plants, cranes and chemical processing equipment for export.

The company exported $300 million worth of goods in 2015. — VNS