Ninh Binh actively removes difficulties for automobile industry

Faced with the difficulties of businesses, administrations at all levels and sectors in Ninh Binh province have proactively built effective support solutions, contributing to stabilising production and business, contributing to the province’s economic growth in 2025.

Hyundai Thanh Cong is a joint venture between Hyundai Motor Group of the Republic of Korea and Thanh Cong Group, located in Gian Khau Industrial Park in Gia Vien district. With two modern factory complexes, a designed capacity of 180,000 vehicles per year, the company is manufacturing and distributing strategic car lines such as Palisade, Santafe, Tucson, Elantra, Creta, Accent, Grand i10... In addition, in early 2025, the company completed the installation of the engine assembly line, expected to go into mass production in May.

Recently, in addition to distributing in the domestic market, Hyundai Thanh Cong is researching to expand exports to new markets to diversify consumption channels and reduce dependence on traditional markets. At the same time, it has successfully exported to some ASEAN countries such as Thailand and Myanmar.

In 2024, the company's revenue reached nearly 6.5 trillion VND, with more than 9,900 vehicles sold, of which nearly 150 billion VND worth of exports. It is expected that in 2025, its revenue will reach 6.86 trillion VND, with an estimated sales volume of about 11,000 vehicles.

Nguyen Minh Son, General Director of Hyundai Thanh Cong Vietnam Factory, shared, in fact, the company’s production and export activities are facing many major challenges. It is facing unstable logistics costs and taxes related to import and export, directly affecting production and business efficiency.

“The US’s tariff policies can indirectly affect the global supply chain, including Vietnam. In addition, our production model depends heavily on imported components and spare parts, so we need a lot of foreign currencies. If the foreign exchange market fluctuates, the car market will be somewhat affected. Car prices will change,” he said.

Faced with this reality, Ninh Binh province has implemented many practical solutions to remove difficulties for Hyundai Thanh Cong. Accordingly, in recent times, the province has focused on developing synchronous and flexible industrial infrastructure.

At the same time, the province is also studying the planning and expansion of industrial parks to create cleared land plots to serve the expansion of production lines, especially the development of auto support industries.

Regarding customs clearance, the province’s functional units, especially Ninh Binh Customs, have coordinated to arrange personnel to work overtime (including Saturdays and Sundays when necessary) to support businesses in completing import and export procedures in a timely manner, avoiding congestion of goods.

The provincial People's Committee has directed the Department of Industry and Trade to coordinate with central ministries and branches to organise training courses, provide updated information on Free Trade Agreements (FTAs), helping businesses grasp the rules of origin, take advantage of tax incentives and access new markets. This is an important basis for improving competitiveness, taking advantage of FTAs ​​and expanding export markets in the current difficult context.

In addition, local authorities actively support legal procedures, issue and renew investment registration certificates for new and expanded projects of Hyundai Thanh Cong to increase capacity.

For macro policy proposals that are not within the scope of resolution, Ninh Binh province has proactively summarized opinions from enterprises to propose to the Government to adjust tax and fee policies in accordance with production reality. At the same time, the province plays the role as a bridge in meetings between enterprises and ministries and branches on export strategies, supporting industries and electric car market development.

To achieve the target of double-digit economic growth in 2025, authorities at all levels and sectors in the province need to continue to accompany enterprises, increase the provision of information, legal advice, and technical support so that enterprises in general and Hyundai Thanh Cong in particular can stabilise production, maintain jobs and contribute the most to the province's export growth.