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On April 20, the Thai Nguyen Department of Construction held a signing ceremony for a Memorandum of Cooperation with Pacific Construction Group (China).
Under the agreement, both sides will cooperate on the principles of voluntary participation, equality, mutual benefit, and compliance with applicable laws and related international treaties.
The cooperation will focus on information exchange, experience sharing, researching investment opportunities, and coordinating the implementation of projects aligned with the province’s development orientation.
Proposed cooperation areas include:
Pacific Construction Group plans to establish an independent legal subsidiary in Thai Nguyen Province to implement the cooperation activities. The planned total investment over the next five years is not less than $2.5 billion.
The agreement also outlines a gradual localization of the group’s investment and business operations in the locality.
Pacific Construction Group was established in 1986 and is one of two enterprises under the Trang Nghiêm Research Institute. The group is among the world’s top 500 largest enterprises, with activities in infrastructure sectors including expressways, urban development, irrigation, and architecture.
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