South Korea’s Doosan Heavy Industries & Construction Co. 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 company said on Sunday.

Doosan heavy 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 the local authorities to help the partners receive benefits like tax cut.

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.

“We will expand our support beyond Vietnam to India to help our partners to start business there as well,” said Kim Myung-woo, chief executive of Doosan Heavy.

By Moon Ji-woong

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