In the context of a volatile global economy , broken supply chains, escalating logistics costs and constantly changing international tax policies, automobile manufacturers in Vietnam, especially in Ninh Binh, are facing unprecedented challenges. However, it is worth noting that the Ninh Binh provincial government is not standing aside. On the contrary, they are proactively participating, supporting businesses to overcome difficulties, creating a favorable investment and production environment, thereby creating new momentum for local economic growth.
Firm businesses - Accompanying authorities, taking real action, solving root problems
A typical example is Hyundai Thanh Cong Vietnam Automobile Manufacturing Joint Stock Company (HTMV) - a joint venture between Hyundai Motor Group (Korea) and Thanh Cong Group . With two modern factory complexes and a designed capacity of 180,000 vehicles/year, HTMV is the leading company in the domestic automobile industry, not only providing strategic car lines for the domestic market but also gradually expanding to the international market.
In 2024, HTMV will achieve revenue of nearly VND 6,500 billion with more than 9,900 vehicles sold. It is expected that in 2025, this figure will increase to VND 6,861 billion with about 11,000 vehicles, of which exports will contribute nearly VND 150 billion. The enterprise has completed the engine assembly line, preparing for mass production in 2025, targeting potential markets such as Malaysia, Brazil, Kazakhstan and Laos.
However, behind these impressive numbers are a series of barriers that are hindering development: unstable logistics costs, high international shipping rates due to geopolitical conflicts, differences in port infrastructure fees between localities, and exchange rate risks when importing components and spare parts.
Faced with this situation, the Ninh Binh provincial government has implemented a series of proactive and flexible measures. Not only investing in synchronous infrastructure of Gian Khau Industrial Park and the expansion area, the province is also researching clean land for new component complexes and engine lines, creating a foundation for a deep localization strategy.
On the Customs side, the province has directed its staff to work overtime (including weekends) to ensure that import and export clearance activities take place quickly and avoid congestion. In parallel, the Department of Industry and Trade organizes training courses on Free Trade Agreements (FTAs), helping businesses take advantage of tax incentives and expand markets.
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| Customs Area X proactively grasps and shares the difficulties of Hyundai Thanh Cong Vietnam Automobile Manufacturing Joint Stock Company. Photo: Anh Tuan |
In particular, the Government not only “minds its own business” but also plays a strategic bridge role: receiving business recommendations on tax and fee policies to propose to the Central Government; organizing work between businesses and ministries and branches to remove larger barriers, from exports, supporting industries, to the electric car market.
A vibrant picture of production and industry
Not only HTMV, many large industrial enterprises in Ninh Binh are also affirming their role in the national value chain. Ninh Binh Fertilizer Company Limited, in 2024, produced more than 503,000 tons of urea, achieved revenue of nearly 4,900 billion VND, exported 35 million USD, and created jobs for nearly 1,000 workers. This is a testament to the recovery and sustainable development in the chemical sector.
Another example is Ninh Binh Industrial Gas Joint Stock Company – the unit that collects and processes 48 million m³ of CO2 emissions from the Fertilizer Plant, converting them into pure liquid CO2. This is not only an economic solution, but also a green economic model that needs to be replicated.
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| Chairman of the Provincial People's Committee Chairman and the delegation visited the Hop Chi Vietnam Precision Electronics Factory Investment Project of Hop Chi Vietnam Precision Electronics Co., Ltd., located in Gia Phu Industrial Cluster |
In addition, the Hop Chi Vietnam Project – a precision electronics factory under construction – promises to create jobs for 750 workers, contributing to expanding the local electronics supporting industry supply chain.
Support for the development of Vietnam's automobile industry
Ninh Binh provincial leaders have repeatedly emphasized that developing the automobile industry is not only a local growth issue but also a national mission. In particular, the automobile industry - with high added value and wide spread, if invested in the right direction, will lead to the development of dozens of supporting industries, from precision mechanics, technical plastics, to logistics and electronics.
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| The Chairman of the Provincial People's Committee and the delegation visited the engine manufacturing factory of Hyundai Thanh Cong Vietnam Automobile Manufacturing Joint Stock Company in Gian Khau Industrial Park. |
Therefore, the province clearly defines its role as “creator” not just “manager” in the development of the industry. From improving infrastructure, promoting investment, to providing legal support and connecting markets, Ninh Binh is gradually turning the automobile industry into a strategic economic spearhead.
Long-term vision – Decisive action
The target of double-digit economic growth by 2025 is a big challenge, but not beyond reach if there is effective coordination between the State and enterprises. In particular, maintaining the growth momentum of HTMV and key industrial enterprises is key.
Accompanying businesses not only with administrative documents, but also with specific and substantive actions, is the strongest commitment of Ninh Binh government to sustainable development.
Source: https://congthuong.vn/ninh-binh-tang-toc-ho-tro-doanh-nghiep-thuc-day-san-xuat-cong-nghiep-389745.html
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