Financed by the Ha Noi-based Geleximco Group, the factory will be divided into two stages with the first one, valued at VND7 trillion, to begin in the first quarter of 2023.
Several automakers are considering assembling their best-selling models in Việt Nam due to the Government’s policy of zero import tariffs on components and a 50 per cent reduction in registration fees.
In his speech, vice chairman of the provincial People’s Committee Truong Quoc Huy praised efforts made by the Japanese investor to accelerate the construction of the project and put it into operation on schedule.
Russian automobile maker Sollers plans to start assembling UAZ cars in Viet Nam in 2018, said Vadim Shvetsov, director general of Sollers, at the International Industrial Trade Fair INNOPROM 2017.
The draft decree on conditions for auto manufacturing, assembling, importing, and maintenance and warranty business recently publicised by the Ministry of Industry and Trade (MoIT) is stirring up concerns in general public and industry insiders.
Japan''s Meitoku Engineering Co Ltd began operations of a factory
producing and assembling industrial machines in the Dong Van II
Industrial Zone in the northern province of Ha Nam on September 28.