Vietnam aims to attract powerful investors in electric vehicle manufacturing

January 29, 2022 | 12:32

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Vietnam aims to attract major global investors into the manufacturing of electric vehicles, further planning to establish an export industry for such vehicles in the next five years.

Vietnam aims to attract powerful investors in electric vehicle manufacturing

Electric vehicles have high development potential in Vietnam

This is the statement in Document No. 632/VPCP-CN sent to the Ministry of Industry and Trade (MoIT) by the Government Office on January 26.

The document was issued following the proposal sent to the prime minister by TMT Motor JSC on January 11, recommending comprehensive solutions calling for investors worldwide to participate in the manufacturing of electric vehicles in Vietnam.

Accordingly, the prime minister asked the MoIT to find solutions together with TMT for the development of electric vehicles in Vietnam.

Electric vehicles have high development potential in Vietnam amid the growing trend of using green and clean energy.

Under Vietnam’s Automobile Industry Development Strategy until 2025 with a vision to 2035, the country encourages the development of eco-friendly vehicles that meet international requirements on emission standards in line with the roadmap approved by the prime minister.

According to the Vietnam data, the number of electric vehicles in Vietnam remains modest at 140 in 2019, 900 in 2020, and an additional 600 units as of the first quarter of 2021.

By Bich Thuy

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