VinFast expands domestic supply chain, increases incentives for domestic auto industry support businesses

Ms. Thai Thi Thanh Hai, Vice President of Vingroup and Deputy General Director of VinFast, said that VinFast not only offers attractive incentive policies for suppliers, but also affirms its great goal of increasing the localization rate to 80% by 2026.

VinFast expects to produce more than 500,000 vehicles by 2027, and aims to produce 1 million vehicles per year by 2030. To realize these plans, VinFast has outlined a strategy to expand its domestic supply chain with special incentives for domestic businesses. Specifically, businesses will receive a 50% reduction in land rental fees for the first 3 years, and a 20% reduction for the next 5 years when investing in building factories at VinFast's production complexes in Hai Phong and Ha Tinh. This is a move that not only supports businesses but also promotes the overall development of the automobile industry in Vietnam.

VinFast expands domestic supply chain, increases incentives for domestic auto industry support businesses. Photo: PV

VinFast commits to purchasing output products according to the plan agreed with suppliers, helping them feel secure in investing and developing. This not only creates stability for businesses but also helps strengthen the linkage in the domestic supply chain. In addition, VinFast will connect Vietnamese businesses with foreign partners, creating opportunities for technology transfer and experience, thereby improving competitiveness in the international market.

VinFast wishes to share development and success opportunities with the domestic business community. Together, we will create strong internal strength, increasing the global competitiveness of the Vietnamese automobile industry.

Vietnam is on the path to strong development in the high-tech automobile industry, and one of the decisive factors for this success is the close cooperation between domestic enterprises. VinFast's organization of the Conference on Strengthening Localization and Developing the Supplier System not only creates opportunities for supporting enterprises but also affirms their important role in the global automobile production chain. VinFast commits to purchasing output products according to the plan agreed with suppliers, helping them feel secure in investing and developing. This not only creates stability for enterprises but also helps strengthen the linkage in the domestic supply chain. In addition, VinFast will connect Vietnamese enterprises with foreign partners, creating opportunities for technology transfer and experience, thereby improving competitiveness in the international market.

To implement these plans, VinFast has outlined a strategy to expand its domestic supply chain with special incentives for domestic businesses. Specifically, businesses will receive a 50% reduction in land rental fees for the first 3 years, and a 20% reduction for the next 5 years when investing in building factories at VinFast's production complexes in Hai Phong and Ha Tinh . This is a move that not only supports businesses but also promotes the overall development of the automobile industry in Vietnam.

Currently, VinFast has two large production complexes in Hai Phong and Ha Tinh, with factories under construction in India and Indonesia. VinFast's efforts to promote localization and develop a supplier system will not only create benefits for domestic enterprises but also contribute to building a strong Vietnamese automobile industry, reducing dependence on foreign supplies, and affirming Vietnam's position on the global automobile industry map.

Source: https://daibieunhandan.vn/vinfast-mo-rong-chuoi-cung-ung-noi-dia-tang-cuong-uu-dai-cho-doanh-nghiep-phu-tro-noi-dia-nganh-o-to-10379607.html