A manufacturing line of Huyndai Thanh Cong Company in the northern province of Ninh Binh. (Photo: VNA) Hanoi (VNA) – 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. The ministry will also revise Government Decree No. 111/2015/NĐ-CP dated November 3, 2015 on support industry development to solve existing shortcomings in the portfolio of support industry products which are prioritised for development as well as policies for each sector. In terms of the support industry, the ministry will effectively conduct projects under the support industry development programme, which has been approved for a number of… Read full this story
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