16:45 | 11/09/2017 Society
Russian automobile company Sollers plans to set up an assembly plant in Vietnam in 2018, the company’s General Director Vadym Shvetsov said on the sidelines of the third Eastern Economic Forum in Vladivostok, Russia on September 6 .
|A Soller truck (Source: sollers-auto.com)|
The company is negotiating terms with Vietnamese partners, including technical issues, industrial assembly facility, he said, adding that Vietnam also has conditions for setting up the facility.
In July, Sollers first announced the plans to create a joint assembly plant in Vietnam with initial capacity of 1,000 cars per year, according to Shvetsov.
Sollers has worked with world leading automobile makers such as Ford, SsangYong and Mazda.
Russian President Vladimir Putin announced the Russian – Vietnamese investment fund will invest 500 million USD in non-oil and gas projects in late June.