Cambodia Investment Review

WorldBridge Group and Daewoo E&C Sign MoU for Cambodian Development Projects

WorldBridge Group and Daewoo E&C Sign MoU for Cambodian Development Projects

Cambodia Investment Review

WorldBridge Group has signed a Memorandum of Understanding (MoU) with Daewoo Engineering & Construction (Daewoo E&C), a leading South Korean construction and engineering firm, to explore cooperation opportunities in development projects across Cambodia.

The MoU was signed on May 16 during the Cambodia-Korea Business Leaders Breakfast in Seoul, South Korea. The event was attended by Deputy Prime Minister H.E. SUN Chanthol, First Vice Chairman of the Council for the Development of Cambodia (CDC), with the exchange witnessed by Samdech Thipadei Prime Minister Hun Manet at the Cambodia-Korea Business Forum.

Following the MoU signing, a bilateral meeting took place between Mr. JUNG Won-ju, Chairman of Daewoo E&C, and Neak Oknha Sear Rithy, Chairman of WorldBridge Group, where they discussed the details of the agreement and Daewoo E&C’s interest in the Cambodian market.

Potential Collaborations In Various Development Projects Across Cambodia

“This strategic relationship aims to leverage both companies’ complementary strengths and expertise to explore potential collaborations in various development projects across Cambodia,” said Neak Oknha Sear Rithy. “We are excited to be working with Daewoo E&C. We are confident that our combined capabilities will unlock new projects that will contribute to the nation’s continued development.”

Read More: WorldBridge International and Jaymart Group Thailand partner to bring new products and service to the Cambodian market

Chairman Jung Won-ju echoed these sentiments, stating, “Our extensive experience in urban development, infrastructure, and construction, combined with WorldBridge Group’s deep understanding of the local market and established network, presents a compelling synergy for realizing landmark ventures. We look forward to working together on projects that align with the Cambodian government’s efforts to attract foreign direct investment and stimulate sustainable development.”

Mr. JUNG Won-ju, Chairman of Daewoo E&C, and Neak Oknha Sear Rithy, Chairman of WorldBridge Group on May 16 during the Cambodia-Korea Business Leaders Breakfast in Seoul (Maekyung Media Group).

The signing of the MoU is the result of a series of high-level discussions between Neak Oknha Sear Rithy and Chairman Jung Won-ju during the latter’s visit to Cambodia last December. These discussions identified potential areas of collaboration and laid the groundwork for exploring synergies between the two companies.

WorldBridge Group’s diverse portfolio and successful track record in real estate development make it an ideal partner for Daewoo E&C’s expansion into the Cambodian market. WorldBridge Group has been involved in notable projects such as The Peak and The Bridge, which highlight its capabilities in the sector. The two companies plan to identify mutually beneficial opportunities in new city developments, real estate, industry, and infrastructure sectors.

Commitment To Contributing To Cambodia’s Sustainable Development

“The MoU with Daewoo E&C represents another milestone in WorldBridge Group’s ongoing commitment to contributing to Cambodia’s sustainable development,” Neak Oknha Sear Rithy added. “We look forward to a fruitful collaboration that will benefit both organizations and create lasting positive impacts for the people of Cambodia.”

Daewoo E&C has a proven track record of delivering large-scale projects across various sectors, including infrastructure, civil engineering, and building construction. The company is known for its commitment to innovation, sustainability, and creating value for its clients and partners.

WorldBridge Group, established in 1992, is a leading Cambodian conglomerate with diverse interests in logistics, real estate, finance, hospitality, and more. The company plays a pivotal role in Cambodia’s economic growth and development, focusing on delivering excellence, innovation, and sustainable value to its stakeholders and the community.

The collaboration between WorldBridge Group and Daewoo E&C is expected to open new avenues for development in Cambodia, further enhancing the country’s infrastructure and contributing to its overall economic progress.

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