After visiting the electric automobile manufacturing factory there, the President pledged to create conditions for VinFast, a subsidiary of private conglomerate Vingroup, to complete procedures to invest and do business in the Indonesian market.

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After visiting the electric automobile manufacturing factory in Hai Phong, the Indonesian President pledges to create conditions for VinFast to complete procedures to invest and do business in the Indonesian market.

Earlier, the EV maker said it plans to invest at least 1.2 billion USD in Indonesia in the long-term. Apart from distributing imported cars from Vietnam in the first phase, VinFast will build a 200-million-USD EV factory in the country with an expected annual capacity of 30,000 - 50,000 vehicles.

Earlier the same day in Hanoi, President Widodo and Prime Minister Pham Minh Chinh met with representatives of businesses operating in the respective markets, where they were reported that VinFast and GSM, which offers VinFast electric car and motorbike rental and taxi services, and PT GoTo Gojek Tokopedia Tbk, an Indonesian technology company, have signed a MoU aiming to promote green transport in Indonesia.

GSM is also planning to invest 900 million USD in Indonesia in the coming time.

Source: VNA