Minister of Industry and Trade Tran Tuan Anh (L) and Belarusian Ambassador to Vietnam Vladimir Goshin at the signing ceremony (Photo: VNA)Hanoi (VNA) – Vietnam and Belarus have reached consensus onmeasures to remove bottlenecks for the joint venture MAZ Asia on manufacturingand assembling trucks and specific-use vehicles in the context of complicateddevelopment of COVID-19, under their amended protocol signed in Hanoi onDecember 3.
The protocol was inked between Minister of Industry and Trade Tran Tuan Anh andBelarusian Ambassador to Vietnam Vladimir Goshin.
Both sides were unanimous to adjust the localisation rate to facilitate thejoint venture’s manufacturing and assembling activities, making them on parwith Vietnam’s automobile industry development strategy by 2025 with a visionto 2035.
Besides, the amended protocol details regulations on product origin, andallocation process for tariff rate quotas.
Following the free trade deal between Vietnam and the Eurasian Economic Union(EAEU) clinched in 2015, the signing of the protocol in March 2016 created animportant framework for cooperative automobile projects between Vietnam andBelarus – a member of the EAEU. MAZ Asia was established in Hung Yen provinceunder the protocol.
At the signing ceremony, Minister of Industry and Trade Anh stressed Vietnam’spolicy to develop the automobile into an important industry in the nation,which is able to meet domestic and export demand.
The sector is expected to serve as a locomotive for the development of otherindustries, and to gain competitive edge to join the global supply chain, hehighlighted.
Six years ago, the Government issued a strategy to develop the Vietnameseautomobile industry by 2025 with a vision until 2035. Accordingly, Vietnam wasenvisioned to be able to produce several important parts such as engine andgearbox, and initially join the global automobile value chain during 2021-2025.
Anh expressed his hope that with concerted efforts from businesses of bothnations, MAZ-Asia will attain marked advancements in the coming time, as wellas become an economic-trade-investment cooperation model between Vietnam andBelarus./.
VNA
