Speaking at the ceremony, Deputy Prime Minister Trinh Dinh Dung emphasized the significance of the auto industry to turning Vietnam into a modernity-oriented industrialized country.

Delegates at the ground-breaking ceremony

The Vietnamese government aims to have Vietnamese car brands, he said, adding that it has encouraged and facilitated the production of Vietnamese cars with the high ratio of locally-produced components.

The government has devised many policies to promote the development of the supporting industry in general and that serving auto manufacturing and assembly in particular, the Deputy PM noted.

On September 18, Quang Ninh granted licences two component projects of the automobile supporting industry complex, with total registered capital amounting to 5.3 trillion VND (228.35 million USD).

The complex is expected to attract businesses operating in the automobile supporting industry, especially technology-intensive areas, thus promoting cooperation and connectivity between firms in the sector.

Source: VNA