Keppel Group and Sovico Group have agreed to develop and roll-out sustainable energy and sustainable township management services in Vietnam.
The duo signed a Memorandum of Understanding last week to work together through their subsidiaries. Vietnam’s President Nguyen Xuan Phuc witnessed the signing ceremony in Singapore.
It has been reported that the duo will "coordinate to explore the development and roll-out of energy and environmental solutions, as well as identify, develop, operate and manage smart and sustainable projects."
They will work together in Vietnam’s major cities, starting with Ho Chi Minh City and Hanoi.
A local report mentioned, "This collaboration marks a milestone in the strategic partnership between two corporations, leveraging the strengths of Keppel and Sovico Group’s proven track record and presence across a wide range of businesses including banking and finance, real estate, aviation and energy."
Loh Chin Hua, CEO of Keppel Corporation, remarked, "We are glad to contribute further to Vietnam’s development. The signing of the MOU is very much in line with Keppel’s Vision 2030, where we seek to provide solutions for sustainable urbanization, including energy and environmental solutions, as well as master planning and the development of smart and sustainable cities."
Meanwhile, Pham Khac Dung, vice president of Sovico Group, commented, "We are pleased and honored to join Keppel in growing the Vietnam-Singapore strategic partnership to new heights."