Vietnam searches for green auto investment

Deputy Prime Minister Hoang Trung Hai has assigned the Ministry of Industry and Trade to study ways of attracting foreign investors to the fields of energy savings and environmentally-friendly automobiles.

The ministry should also consider the need for development in the area of minibuses and report its findings to the Prime Minister for consideration.

In 2004, the Prime Minister approved a six-year development plan for the automobile industry proposed by Ngo Van Tru, deputy director of Heavy Industry at the Ministry of Industry and Commerce, with a vision to 2020.

The first phase of the plan has been completed successfully with the development of trucks and buses.

The second phase of the plan clearly defines the need to focus on minibuses. The number of nine-seat minibuses should reach 50 for every 1,000 inhabitants between 2020 and 2025.

Deputy Minister of Industry and Trade Le Duong Quang said that incentives were needed to attract strategic investment to help Viet Nam’s automobile industry cope with fierce competition from other regional countries.

The plan will be beneficial to the country and consumers in terms of being environmentally friendly and practical.

Tags: invest in Vietnam, Vietnam automotive, vietnam foreign investment, Vietnam investment