Vietnam’s Coteccons expands overseas operations with projects in India, Taiwan

Chairman Bolat Duisenov presented the company’s strategy at its annual general meeting on Monday, noting plans to establish representative offices in the United States, the Middle East, and Taiwan.

Coteccons recently completed a project for automaker VinFast in India, where its engineers supervised more than 1,000 local workers.

Three additional projects are underway in Taiwan.

The company said it is pursuing a general contractor role overseas, using core personnel to oversee local labor rather than relocating entire teams.

It has also faced regulatory delays.

In Saudi Arabia, Coteccons spent 18 months completing legal registration and has now begun bidding for contracts.

In Taiwan, operating licenses took 15 months to obtain.

Coteccons said it has been invited to participate in projects in the United States, but full market entry remains under review.

For the fiscal year ending June 30, Coteccons reported a net revenue of VND24.89 trillion (US$944.7 million) and a post-tax profit of VND456 billion ($17.3 million).

Total assets rose to VND29.7 trillion ($1.13 billion), up VND6.83 trillion ($259.2 million) from a year earlier.

Cash and bank deposits made up 14 percent of assets at VND4.19 trillion ($159 million).

Shareholders approved fiscal 2026 targets of VND30 trillion ($1.14 billion) in revenue and VND700 billion ($26.6 million) in profit, representing year-on-year increases of 21 percent and 54 percent, respectively.

Revenue from infrastructure projects, including factory construction, accounted for 35 percent to 40 percent of total revenue in the past year, compared with previous years when high-rise buildings made up the majority.

Coteccons reported VND500 billion ($19 million) in revenue from infrastructure projects for the year.