Ministry to support domestic automobile industry projects

The Ministry of Industry and Trade (MoIT) will implement solutions to support and promote the automobile industry projects of companies such as Truong Hai Automobile Company (Thaco), Thanh Cong Group, VinFast and others.

The support is seen as a good signal for increasing domestic automobile production and assembly in the future.

The ministry will build a pilot part supply chain for automobile manufacturers and assemblers at home and abroad, and study mechanisms and policies to attract investment from multinational corporations investing in large-scale projects in Vietnam, especially those focused on the brands and models not existing in ASEAN, in order to create conditions for local enterprises to participate deeply in multinational automobile production chains.

Source: People's Army Newspaper