“Thank you VinFast for giving us the opportunity”
The heat of the "Conference on Strengthening Localization and Developing the Supplier System" organized by VinFast on June 9 was not only reflected in its rare scale - up to 1,000 leading enterprises in the field of industrial and supporting production - but also in the information announced for the first time by VinFast.
Specifically, Ms. Thai Thi Thanh Hai - Vice President of Vingroup and Deputy General Director of VinFast Global - shared the company's strategic vision with the goal of achieving a localization rate of 80% by 2026. In terms of output, the company aims for more than 500,000 vehicles by 2027 and towards 1 million vehicles/year by 2030.
To achieve the above goal as well as share development opportunities for Vietnamese enterprises, Ms. Thai Thi Thanh Hai announced a series of breakthrough support policies: 50% land rental fee incentives for the first 3 years and 20% for the next 5 years for partners building factories at production complexes in Hai Phong and Ha Tinh . The company also committed to purchasing output products according to a unified plan, while connecting Vietnamese enterprises with foreign partners to transfer technology and improve international competitiveness.
VinFast's development plan as well as a series of preferential policies received strong support from businesses present at the event. "I have strong faith in VinFast and we are not afraid to invest," Ms. Dang Thi Thu Phuong - CEO of Thanh Cong Precision Technology Joint Stock Company affirmed after the information was announced by VinFast's leaders.
Specifically, Ms. Phuong's company is investing in two new production lines with a total capital of up to 80 billion VND. For her, this is a great opportunity, especially looking back at the 7-year growth process since joining VinFast. From a unit making household appliances components, this company is now able to master many auto components, at a cheaper price than imported goods. "Thank you VinFast for giving us the opportunity," said the business leader.
Sharing the same belief in VinFast, Mr. Ho Ngoc Toan, Deputy General Director of Automech Mechanical Equipment and Solutions Joint Stock Company, said that VinFast's goal of achieving a localization rate of 80% by 2026 is certainly achievable. According to him, the journey to increase VinFast's localization rate from 40% to 60% is very fast. Therefore, reaching 80% in a short time is feasible. In particular, with the good policies announced by VinFast, more businesses will participate in VinFast's supply chain, thereby accelerating the speed.
Leading the Vietnamese supporting industry
From her perspective, Dr. Truong Thi Chi Binh, Vice President and General Secretary of the Vietnam Association of Supporting Industries (VASI), sees opportunities for VinFast as well as businesses in the supply chain. “The Vietnamese automobile market still has a lot of potential. Currently, we only have 22 cars per 1,000 people, while with Vietnam's GDP, the ratio should be 200 cars per 1,000 people,” Ms. Binh said about VinFast's prospects of reaching an output of 1 million cars by 2030.
Regarding incentives for the supply chain, Ms. Binh pointed out that VinFast has been “opening up” and accompanying businesses over the years and has been highly appreciated by the community. Therefore, with VinFast’s upcoming output and clear localization strategy, this is an opportunity for businesses in the supporting industry.
Looking at VinFast’s strategy to support suppliers at a macro level, economist Pham Chi Lan said that this is a great opportunity for supporting businesses in the Vietnamese automobile industry when VinFast is the leader. She emphasized the phrase “leader” because in fact, Vietnam had a policy on developing supporting industries several decades ago but has done almost nothing.
Regarding the automobile industry, she pointed out that when foreign car manufacturers entered Vietnam, from Toyota, Mitsubishi to Ford, these foreign enterprises all used accessories “according to their own assignment”. For example, Japanese enterprises used accessories in Thailand, not Vietnam. Therefore, she affirmed her view that Vietnam cannot have a developed automobile accessories industry while still allowing foreign enterprises to lead.
“VinFast appears as a leader with a large enough scale and a commitment to purchasing products. Supporting businesses that can work for VinFast with high standards and a commitment to international competition will also have the ability to compete internationally,” she said.
From there, she saw a great opportunity for Vietnam to rise up by its own strength, in the context of current changes in global trade. “I think this is a great opportunity. I believe that supporting businesses will receive support from VinFast as well as from the whole society to overcome together,” affirmed economist Pham Chi Lan.
Source: https://baodautu.vn/vinfast-khoi-tao-cuoc-choi-lon-dua-cong-nghiep-ho-tro-viet-len-tam-cao-moi-d302903.html
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