FECON: A foundational partner for foreign firms

When a foreign firm wants to implement an ambitious development project in Vietnam, they often turn to FECON, the 'king of foundation and underground construction'.

A FAMILIAR NAME TO FOREIGN INVESTORS AND CONTRACTORS

Pham Viet Khoa, chairman of FECON, often refers to the period of economic crisis in 2008-2011 when he is asked about FECON's story. With its quality assurance, progress, and professional team, FECON obtained the trust of foreign businesses and managed to blossom during the crisis.

After their first co-operation with FECON, numerous foreign companies opted to pick the company for all of their subsequent projects. Satisfied returning customers include Samsung and LG from the Republic of Korea (RoK); Chow Tai Fook from Hongkong-China,;and Suncity Group from Macau, among others. FECON has been the foundation contractor for all Samsung factories in Viet Nam, from Samsung Thai Nguyen and Samsung Bac Ninh to 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, Posco E&C, GS & Serve One, and Doosan Industrial from the RoK; China Railway 6 Railway (EPC) Group from China, Shimizu-Meada from Japan; and Cheil Industry, TAL Apparel, TOA Corporation, and BACHY Soletanche from Russia.

Yong Jae Lee, construction director of Serve One Vietnam Company, an LG Group subsidiary, said that he learnt about FECON through a network of RoK businesses in Viet Nam, and had no complaints about FECON's implementation. FECON is also his go-to recommendation to other RoK firms coming to Viet Nam.

Not only concentrating on its traditional business of foundation and soil improvement, with the goal of making a significant contribution to solving difficult problems for infrastructure development in Viet Nam, FECON has joined hands with foreign partners to transfer infrastructure construction technologies. Notably, at the Metro Line No. 1 project in Ho Chi Minh City, FECON has co-operated with Raito Kogyo, a leading Japanese foundation corporation, to acquire foundation and soil improvement technology for urban underground construction. FECON also became the first Vietnamese contractor to operate a tunnel boring machine under the direction of experts from Japan's Shimizu-Maeda.

READY TO TIE THE KNOT

Successfully building trust with customers and foreign partners, FECON is always confident in seeking and attracting investment, as well as strategic co-operation with big enterprises and organisations across Asia and around the world.

FECON has become a 'target' for many Japanese enterprises to approach and expand their market share in Viet Nam. FECON has formed four joint ventures with leading Japanese companies, namely Chikami Miltec, Toyo Industry, Kanamoto, and Raito Kogyo.

In addition, at the first foreign project in Myanmar, FECON co-operated with this nation's Super Rainbow Construction in a project to expand Thilawa International Port in Yangon. In finance and banking, FECON also has high expectations for investment decisions by Japan Development Bank and PYN Elite Fund of Finland, among others.

Since 2014, FECON has been seeking more opportunities to co-operate with foreign firms to invest in infrastructure projects. The company has signed a strategic co-operation agreement with Japan's NEXCO-JEXWAY to invest and develop transport infrastructure projects, and joined hands with Saudi Arabian energy giant ACWA Power to develop renewable energy projects in Viet Nam. With a vision to become Viet Nam's leading infrastructure developer by 2020, FECON is aiming to expand its market to developing countries in the region, such as Myanmar, Indonesia, Cambodia or Bangladesh, to capitalise on its strengths and make use of its experience and partnership networks built up during more than 13 years of development.

It has been said that if a foreign business comes to Viet Nam and looks for a contractor or a reliable partner in the field of foundation, underground construction, and infrastructure construction, their first choice is FECON.