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VinFast opens auto plant in Hai Phong

Released at: 10:31, 17/06/2019

VinFast opens auto plant in Hai Phong

Photo: VGP

Vingroup subsidiary officially inaugurates auto manufacturing plant at Dinh Vu Industrial Park on June 14.

by Minh Do

VinFast, a subsidiary of Vietnamese conglomerate Vingroup, officially opened its automobile manufacturing plant at the Dinh Vu Industrial Park in the northern city of Hai Phong on June 14.

A ceremony was held with the attendance of Prime Minister Nguyen Xuan Phuc, who expressed his surprise at the record construction speed of 650 days. This not only proves that Vietnamese people can do what the world can do, but also contributes to national socioeconomic achievements, especially when Vietnam is striving to reach the goal of becoming an industrialized and developed country by 2045.

He added that VinFast’s success has an important meaning for the economy. Hai Phong’s revenue from VinFast this year is estimated at VND8 trillion ($342.7 million) and over VND15 trillion ($614.7 million) in 2020.

The Prime Minister asked VinFast to actively cooperate with other Vietnamese automobile companies to gain a firm foothold in the domestic market and soon enter regional and global markets. He also directed it to guide the development of the country’s support industries.

In the era of Industry 4.0, VinFast has to take the lead in market and technology trends, which will determine the success or failure of any industry, including the automobile industry, where the accumulation of knowledge and the origin of many technological discoveries spread to many other industries. Investing in research and development is the key to acquiring valuable knowledge not only for VinFast but also for Vietnam.

VinFast’s development cannot be separated from support industries as well as global automobile corporations such as Toyota, Honda, Hyundai, Mercedes Benz, and BMW as well as other large industrial groups like Samsung and LG.

The Prime Minister expects VinFast to set its vision as a leader in addressing Vietnam’s support industry’s weaknesses.

The Vietnamese market is a cradle for Vietnamese tech enterprises but to grow and compete they must go global. Global competition is the best test of technology and industrial enterprises. VinFast must also compete globally, but Vietnamese people must also prioritize the consumption of Vietnamese goods. The quality must certainly be good and the price reasonable, and this would be an expression of patriotism to help Vietnam to rise and reach out, the Prime Minister said. VinFast can go from assembly but must be a Vietnamese tech enterprise with the ability to “Make in Vietnam”.

With the opening of the factory, the Prime Minister called on Vietnamese enterprises, especially those with financial potential, to invest in developing technology and industry, not only for the future of Vietnam but also for the future of the enterprises themselves, as technology and industry are the answer to the sustainable development of the country and its enterprises.

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