Sollers automobile holding company plans to create an assembly facility in Viet Nam in 2018. — Photo baodatviet.vn

Sollers automobile holding company plans to create an assembly facility in Viet Nam in 2018, the company’s general director Vadim Shvetsov told TASS on the sidelines of the Eastern Economic Forum.

"The launch (of the enterprise - TASS) is possible next year, not this year," he said.

According to Shvetsov, now negotiations are underway in Viet Nam. "We are negotiating terms of investments. The Vietnamese government also has own conditions for setting up a local assembly facility," he said.

In early July, Shvetsov told TASS that Sollers may create a joint assembly plant in Viet Nam with an initial capacity of 1,000 cars per year. In late June, Russian President Vladimir Putin said that the Russian-Vietnamese investment fund plans to invest $500 million in non-oil and gas projects. Also the prospect of assembly of vehicles by such Russian manufacturers as GAZ, Kamaz and UAZ were discussed. — TASS