On May 30, Coteccons – one of the top construction companies in Vietnam – signed a three-year MoU with Microsoft Vietnam for the 2023-2025 period to leverage the power of AI and cloud technology to promote innovation in the construction industry.

Vo Hoang Lam, CEO of Coteccons said, “We would like to be one of the first examples of how to digitalise the construction industry in Vietnam. We recognise that there is an urgent need to apply established technologies and techniques in new ways to improve not only management efficiency and productivity but also environmental, social, and governance performance.”

“Coteccons has decided to take the journey to the cloud. We are looking for a trusted technology partner who can help accelerate our growth strategy and do more with fewer resources, enabling us to focus on innovation. We are confident in this collaboration with Microsoft as the backbone of our digital journey,” he added.

Coteccons plans to use Microsoft’s technology and solutions in four areas, namely optimising the customer experience, building a modern workplace, streamlining operations, and transforming products and services.

Nguyen Quynh Tram, country general manager of Microsoft Vietnam said, “Today, cloud and AI technology play a critical role in the transformation of the construction industry by reducing labour costs, increasing safety, and improving the quality of the building’s design. By embracing our industry-proven cloud and AI technologies, Coteccons will be enabling construction companies to achieve incredible designs and buildings in the nation.”

Established in 2004, Coteccons has become a leading construction company in Vietnam. The company has grown both in size and reputation by implementing world-class projects in diverse fields such as residential and commercial developments, hotels, infrastructure, and industrial sites.

The Vietnamese construction market was valued at $108.6 billion in 2022, and is projected to witness an average annual growth rate of more than 6 per cent during the 2024-2027 period.

Vietnam Investment Review