Hyundai asked to make Vietnam its strategic production center

16:37 | 17/03/2019 Companies

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 PM Trinh Dinh Dung (R) receives Vice Chairman of Hyundai Engineering & Construction Co. Chung Jin-haeng in Hanoi on Feb 22 - Photo: VGP

The host official applauded Hyundai’s fruitful investment and business activities in Vietnam over the past few years, including its cooperation with the Truong Hai and Thanh Cong groups to manufacture, assemble, and distribute automobiles.

The Deputy PM hoped that Hyundai would continue cooperating with and transferring technologies and management skills to its Vietnamese partners, and raise the rate of locally-made components in its automobiles to at least 40%.

He reiterated that the Vietnamese Government always supports and creates optimal conditions for domestic and foreign investors, including those from the RoK, to expand investment and business activities.

At the meeting, the Hyundai executive said his group highly values the Vietnamese Government’s determination and policies to help develop the auto industry.

He affirmed that Hyundai has serious and major plans to invest, transfer technologies, and develop auto manufacturing in the country.

Theo NDO/VNA