Deputy Prime Minister Trinh Dinh Dung (R) receives Vice Chairman of Hyundai Engineering & Construction Co. Chung Jin-haeng in Hanoi on February 22 (Photo: baochinhphu.vn)Hanoi (VNA) – DeputyPrime Minister Trinh Dinh Dung asked the Republic of Korea’s (RoK) Hyundaigroup to base its strategic production centre in Vietnam while receiving ViceChairman of Hyundai Engineering & Construction Co. Chung Jin-haeng in Hanoion February 22.
The host official applauded Hyundai’s fruitfulinvestment and business activities in Vietnam over the past few years,including its cooperation with the Truong Hai and Thanh Cong groups tomanufacture, assemble, and distribute automobiles.
He affirmed that developing the auto industry isa core policy in Vietnam’s industrialisation strategy with priorities given tothe domestic industry to serve the local market.
New policies that are consistent with oneanother, transparent, forecastable, and attractive will be made to ensure thesustainable development of the auto industry, Dung noted.
The Deputy PM hoped that Hyundai would continuecooperating with and transferring technologies and management skills to itsVietnamese partners, and raise the rate of locally-made components in itsautomobiles to at least 40 percent.
Hyundai and other big car makers from the RoKand around the world can dive further into global value chains by making use ofVietnam’s key advantages, such as strong international integration, competitiveinput costs, and a large domestic market.
He reiterated that the Vietnamese Governmentalways supports and creates optimal conditions for domestic and foreigninvestors, including those from the RoK, to expand investment and businessactivities.
At the meeting, the Hyundai executive said hisgroup highly values the Vietnamese Government’s determination and policies to helpdevelop the auto industry.
He affirmed that Hyundai has serious and majorplans to invest, transfer technologies, and develop auto manufacturing in thecountry. –VNA
VNA
