Hyundai asked to make Vietnam its strategic production centre
Deputy Prime Minister Trinh Dinh Dung asked the Republic of Korea’s (RoK) Hyundai group to base its strategic production centre in Vietnam while receiving Vice Chairman of Hyundai Engineering & Construction Co. Chung Jin-haeng in Hanoi on February 22.
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
The domestic automobile parts industry has failed to reach the set target despite support from the Government, said Nguyen Thi Tue Anh, deputy director of the Central Institute for Economic Management (CIEM).
In order to help boost the Vietnamese automobile industry – one of the most important contributors to national economic growth – the country could do with focusing on its policy stability, market expansion, support industry development, and connectivity reinforcement, according to insiders.
Car maker Hyundai Motor Co. of the Republic of Korea (RoK) will set up a joint venture with Vietnam’s Thanh Cong group to boost sales in the emerging market, according to Yonhap news agency.
The Ministry of Industry and Trade (MoIT) will implement solutions to support and promote the automobile industry projects of companies such as Truong Hai Automobile Company (Thaco), Thanh Cong Group, VinFast and others.
The Ministry of Finance has asked the Government to amend its laws to eliminate the special consumption tax on locally manufactured auto parts and components, a move which could reduce prices of locally assembled cars.
Stronger efforts and determination are required to achieve and surpass the set targets, especially in the eradication of makeshift and dilapidated houses nationwide, the acceleration of public investment disbursement, and the implementation of nationally important transport projects, PM Pham Minh Chinh noted.
The trip will be made at the invitations of Chinese Premier Li Qiang and WEF President and CEO Børge Brende, according to an announcement from the Ministry of Foreign Affairs.
Long spoke highly of the dynamic, positive, and comprehensive development of Vietnam – Russia relations in recent years. He affirmed that the Vietnamese Party and State place great importance on further strengthening the comprehensive strategic partnership with Russia in a substantive and effective manner, in line with the development needs of both nations.
At the conference, participants reported that the Government has so far issued 28 decrees on the delegation of responsibilities and powers between the central Government and two-tier local administrations. Several localities have already piloted the new governance model.
Reality is the ultimate benchmark for success, he said, urging drafting agencies to work out policies that foster development, reduce bureaucratic hurdles, and respect practical conditions.
Under the official dispatch signed on June 20, ministers, heads of ministerial-level agencies, and chairpersons of provincial and municipal People’s Committees are requested to concentrate efforts on implementing core measures to ensure the smooth operations of the new administrative framework.
The Party chief underscored the need for the press to innovate relentlessly, evolve to keep pace with the country's development, transform into a truly professional, humanistic, and modern sector that serves the cause of the Party, the State, and the people on the path to national construction and development.
The UN Secretary-General praised Vietnam’s remarkable achievements in socio-economic development and international integration in recent years, noting that the country has emerged as a model in implementing the Sustainable Development Goals (SDGs), promoting international peace and security, and engaging in key UN processes.
Nghia affirmed that this is a milestone of special significance, affirming and honouring the the Vietnamese revolutionary press’s glorious tradition of 100 years of serving the revolutionary cause of the Party, serving the Fatherland, and serving the people.
The Party and State of Vietnam always attach great importance to and give top priority to the development of Vietnam–China relations. Vietnam is ready to work with the Chinese Party and State to further deepen the Comprehensive Strategic Cooperative Partnership and promote the building of the Vietnam-China community with a shared future that carries strategic significance.
Under the leadership of President Ho Chi Minh and the CPV, President Cuong said, the press has been a steadfast force on the ideological and cultural front, rallying the masses to pursue national aspirations.
NA Chairman Tran Thanh Man stressed the need to accelerate the application of artificial intelligence and smart teaching equipment, innovate teaching and assessment methods, and further improve the quality of formal education.
He also pledged that the NA will promote its ongoing supervision, making sure that every promise must lead to results, and every commitment must bring about real changes.
Minister of Industry and Trade Nguyen Hong Dien welcomed the proposals put forward by the US side and reiterated Vietnam’s request for consideration of key areas of interest, including reciprocal tariff policies and access for Vietnamese key export products to the US market.
Deputy PM Le Thanh Long proposed countries promote shared values, including building trust, sincerity, and solidarity among nations and peoples; fostering cooperation spirit and responsible behaviour as well as upholding international law and the UN Charter; and placing people at the centre and as the goal, the key player, and the driving force of all policies.
The show, together with a grand parade to be held silmutaneously at Ba Dinh Square in Hanoi, will celebrate the 80th anniversary of the August Revolution, the National Day, and the General Staff of the Vietnam People’s Army (VPA).
In particular, in April 2023, the two sides successfully carried out a joint operation that dismantled a major organised, transnational drug trafficking ring involving both Vietnamese and Cambodian suspects.
The Vietnamese Embassy in Israel is closely coordinating with relevant local agencies to stay informed and provide the utmost support possible for Vietnamese nationals.
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) 
