Ninh Binh expedites national strategy of developing automotive industry

The success of Hyundai Thanh Cong’s automobile manufacturing projects have helped attract firms in the field of supporting industries in the province.

 TC Group - highlight of Vietnam’s automotive industry

Thanh Cong Group witnessed strong sales in September with 6,518 cars sold, up 39.3% compared to that of the previous month.

Currently, Hyundai Thanh Cong plants in Ninh Binh are manufacturing and assembling 34 kinds of cars and commercial vehicles, meeting diverse demand of domestic consumers.

With wide distribution outlets, Hyundai Thanh Cong currently accounts for 20% of the domestic market share and created jobs for nearly 5,000 local workers with stable income.

At the same time, Hyundai Thanh Cong has also contributed to building Ninh Binh into a leading national hub of automobile manufacturing and assembly.

After 16 years of investing in Ninh Binh, Thanh Cong Group and Hyundai have implemented eight projects with total registered investment capital of over 12 trillion VND. These projects have operated effectively and affirmed its significant role in the Vietnamese automotive industry.

These projects have also built Ninh Binh into an attractive destination for FDI investors, especially those in supporting industries.

Ninh Binh follows national automotive industry development strategy

Recently, the Ministry of Industry and Trade has published a Draft Automobile Industry Development Strategy until 2030, with a vision to 2045 to collect ideas and suggestions from units, organizations and individuals.

Under the strategy, Vietnam will manufacture 1,531,400 new vehicles by 2035. Of the total, 852,600 are under-nine-seat vehicles, 84,400 are cars of 10 seats and above; 587,900 are vans, and 6,400 are specialized vehicles. The rate of domestically manufactured and assembled cars will make up 78% of the domestic demand. By 2035, around 90,000 vehicles will be exported.

In a bid to affirm the position of the country’s largest national automotive manufacturing and assembly hub, Ninh Binh needs to strictly follow the national automotive industry development strategy until 2030 with vision to 2045 so as to issue favourable mechanisms and attractive policies to attract firms in fields of supporting industry, and component and spare part manufacturing to raise localization rate.

In addition, the province needs to pay heed to cooperating and working with international manufacturers to develop the automotive industry modernly and synchronically.