Auto industry crucial to Vietnam’s industrial development: PM

The automobile industry, which is a high-tech industry, holds an important role to the industrial development of the country, Prime Minister Nguyen Xuan Phuc has said.

The PM made the statement in Hanoi on March 12 while presiding over a working session with representatives of competent agencies, businesses and localities, looking to tackle difficulties in the development of Vietnam's automobile industry.

At the event, participants voiced their hope that the government will issue more incentives to facilitate the support industry to serve the domestic car assembling and manufacturing sector, which is expected to attract major car companies of the world and connect domestic firms investing in the sector.

PM Phuc highly valued the recent investment of automobile manufacturers, particularly in car assemblage and auto spare parts manufacturing, contributing to the establishment of several major auto centres in the country, including those of Truong Hai Corporation, Thanh Cong Group, and VinGroup's VinFast.

He stressed the need of incentives to foster the more vigorous development of Vietnam's automobile industry, especially in the support industry and spare parts manufacturing, meeting not only domestic but also export demands.

Therefore, he asked competent agencies to further complete policies on the support industry, notably spare part and car engine manufacturing. The government will create optimal conditions for firms investing in the field, he pledged.

The PM also urged domestic manufacturers to carry out more innovative ideas and devise suitable strategies and actions, as well as focus on high quality human resources training to attract car companies across the world.

Domestic firms were also advised to conduct market research to launch products in line with demand, while ensuring clean environments for local people.

Source: VOV5

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