Vietnam awards GM Daewoo unit with labor medal

The Vietnamese government awarded Friday a state medal to GM Daewoo Auto & Technology Co., honoring its business achievements and contributions in the Southeast Asian country, the company said and Yonhap News reported.

Vietnam Daewoo Motor Co., the wholly-owned auto assembly plant of GM Daewoo, was decorated with the Labor Medal by Vietnamese Vice State President Nguyen Thi Roan at a ceremony to mark the 16th anniversary of the GM Daewoo unit.

"This award will give us momentum to continue our quest to become a leading automaker in Vietnam," said GM Daewoo Chief Executive Officer Mike Arcamone in the statement.

Arcamone said GM Daewoo plans to develop a long-term investment plan to make the Vietnamese unit a manufacturing base for markets in the Asia-Pacific region.