GS Engineering & Construction Corp. said it is moving to develop new businesses in Vietnam centered on data centers and smart cities.
The company said it signed a memorandum of understanding on April 22 with FPT Corp. at the Vietnamese firm’s headquarters in Hanoi to cooperate on data center development and smart city construction. GS E&C CEO Heo Yun-hong and FPT CEO Nguyen Van Khoa attended the signing, along with other officials.
GS E&C said the agreement is intended to support Vietnam’s digital economy growth and its national digital transformation strategy by combining the two companies’ capabilities.
FPT is Vietnam’s largest private IT company and ranks No. 1 among private firms in the country’s data center market by capacity, GS E&C said. GS E&C said it has more than 20 years of experience in data centers and can provide end-to-end solutions from development through operations.
Under the MOU, the companies plan to develop large-scale data centers in major Vietnamese regions, starting with an initial project in the tens of megawatts and expanding in stages. They also plan to build high-efficiency facilities using advanced technology and modular construction to meet rising demand for artificial intelligence and cloud services.
The companies also agreed to cooperate on smart city development. GS E&C will lead project development and execution and provide design and construction capabilities for AI infrastructure, the company said. FPT will provide technical cooperation based on its ICT expertise, including cloud services and digital platforms, and will support demand creation and cooperation with the central government and local authorities.
GS E&C said the partners aim to build citywide digital infrastructure, including intelligent transportation systems, smart energy management and integrated public safety platforms, and to improve operational efficiency through AI and Internet of Things-based solutions.
Separately, GS E&C said it signed another MOU on April 23 with the Bank for Investment and Development of Vietnam, the country’s largest state-owned commercial bank, for comprehensive cooperation on financial services. The company said the deal is intended to establish a financing support framework for development projects and broader smart city initiatives being pursued by its Vietnam unit, VGSE.
GS E&C said the two agreements will help it secure an integrated business structure covering data center development, smart city construction and financial support, and strengthen its competitiveness in Vietnam’s digital infrastructure market.
* This article has been translated by AI.
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