Vietnam’s Becamex, Korea’s LS Electric join hands in smart factory solutions
Vietnam’s real estate major Becamex IDC and South Korea’s electric equipment maker LS Electric will jointly deliver advanced smart factory solutions to local manufacturers.
The two recently signed a memorandum of understanding in Vietnam’s southern province of Binh Duong for the move, LS Electric said Tuesday.
The deal aims to boost Vietnam’s digital transformation and drive innovation in the country’s manufacturing and automation sectors, promoting both sustainability and competitiveness, LS Electric added.
Representatives of Becamex and LS Electric signed an agreement in Binh Duong province, southern Vietnam. Photo courtesy of LS Electric.
Per the agreement, LS Electric will provide smart factory solutions and applications, with a focus on renewable energy storage. Becamex, a top industrial park developer in Vietnam, will coordinate and promote smart factory solutions.
Becamex IDC is 95.44% owned by the Binh Duong People’s Committee. It runs seven industrial parks (IPs) covering 4,700 hectares in Binh Duong province, a manufacturing hub in southern Vietnam. The firm is the largest IP owner in the locality, with a 30% plus market share.
The corporation also holds a 49% stake in Binh Duong-based Vietnam-Singapore Industrial Park JV Company (VSIP), a joint venture with Singapore’s Sembcorp Development.
VSIP, with Sembcorp owning 51%, has 12 IPs countrywide, covering over 10,000 hectares in total.
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