16:30 | 18/02/2018 Companies
(VEN) - FECON is considered to be the “king of foundation and underground construction” in Vietnam.
The familiar name to foreign investors and contractors
Pham Viet Khoa, Chairman of FECON often mentioned the economic crisis from 2008-2011 while telling about FECON. With the quality of assurance, progress and a professional team, FECON has won the trust of foreign businesses and overcome the crisis.
After cooperation with FECON for the first time, many foreign companies have continued their partnerships for a long time. Among them are Samsung, LG, Chow-Tai-Fook (Hong Kong - China) and The Suncity (Macau).
FECON currently is the foundation contractor of all Samsung factories in Vietnam, including Samsung Thai Nguyen, Samsung Bac Ninh and Samsung Ho Chi Minh City.
FECON has earned the trust of not only foreign investors but also foreign general contractors including HYUNDAI E & C - GHELLA JV (the Republic of Korea), China Railway 6 Railway (EPC) Group (China), Doosan Industrial (the Republic of Korea), Posco E&C (the Republic of Korea), Shimizu-Meada (Japan), GS & Serve One (the Republic of Korea), Cheil Industry, TAL Apparel, TOA Corporation, and BACHY Soletanche (Russia) Yong Jae Lee, Construction Director of the Serve One Vietnam Company under the LG Group, says he knew FECON through a network of Korean businesses in Vietnam and he had no complaints about it. FECON was also the name that he was willing to introduce to other Korean businesses if they come to Vietnam.
Not only concentrating on its traditional business as foundation and soil improvement, FECON, with the goal of contributing significantly to solving problems in terms of infrastructure development in Vietnam, has joined hands with foreign partners to transfer infrastructure construction technology. Notably, as for the Metro Line No.1 project in Ho Chi Minh City, FECON has cooperated with Raito Kogyo, a Japanese leading foundation corporation, to acquire the transfer of foundation and soil improvement technology of urban underground construction. FECON has also become the first Vietnamese contractor to operate TBM under the direction of Japanese experts from Shimizu-Maeda (Japan).
Strategic cooperation with foreign partners
Succeeding in building trust among customers and foreign partners, FECON is always confident of seeking investment from, and strategic cooperation with big enterprises and organizations in Asia and around the world.
FECON has become a “target” for many Japanese enterprises to approach and expand the market in Vietnam. It has four joint ventures with leading Japanese companies such as Chikami Miltec, Toyo Industry, Kanamoto and Raito Kogyo.
In addition, at the first foreign project in Myanmar, FECON cooperated with Super Rainbow Construction (Myanmar) in the project for expansion of Thilawa International Port (Yangon). In finance and banking, FECON has also set high expectation for investment decisions by the Japan Development Bank (DBJ), the PYN Elite Fund (Finland), etc.
Since 2014 FECON has sought opportunities to cooperate with foreign firms to invest in infrastructure projects. The company has signed a strategic cooperation agreement with NEXCO-JEXWAY (Japan) on investment and development of transport infrastructure projects in Vietnam. It has also joined hands with a large energy corporation from Saudi Arabia named ACWA Power to develop renewable energy projects in Vietnam.
With a vision of becoming a leading infrastructure developer in Vietnam by 2020, FECON is aiming to expand its market to developing countries in the region such as Myanmar, Indonesia, Cambodia and Bangladesh to uphold its strong points and make use of its experience and partnership networks built up during the last more than 13 years.
It has been said that if a foreign business comes to Vietnam and seeks a contractor or a reliable partner in the field of foundation, underground construction and infrastructure construction, their first choice is FECON.