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|An automobile manufacturing line of the Truong Hai Automobile Joint-Stock Company at the Chu Lai-Truong Hai Industrial Complex in the central province of Quang Nam. - VNA/VNS Photo Vu Sinh|
In a report recently released by the Government Office – based on the proposals of the northern province of Ninh Binh, an automobile manufacturing hub – PM Phuc asked the ministries of Trade and Industry, and Finance and relevant agencies to review policies in order to promote the production of parts and engines.
PM Phuc also required the Ministry of Planning and Investment to adjust the foreign ownership cap in automobile joint ventures to not exceed 50 per cent.
These ministries were requested to co-operate with businesses to train a high-quality workforce in order to attract leading world automakers, research domestic and export markets to manufacture products that meet demand and set up a plan to export completed cars and auto parts.
As for a number of proposals from Ninh Binh Province including the expansion of Gian Khau Industrial Park, Phuc assigned the ministries of Natural Resources and Environment, and Planning and Investment to study the issues and report back to him.
Ninh Binh is one of the four largest automobile manufacturing hubs in Viet Nam, and is home to the production of Hyundai Thanh Cong Group. Others include the northern province of Vinh Phuc (home to production lines for Toyota and Honda), the northern city of Hai Phong (VinFast) and the central province of Quang Nam (Thaco).