Russia auto makers to enter Vietnam

Thursday, 2017-12-28 11:30:39
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Minister of Industry and Trade Tran Tuan Anh (L) and Russian Ambassador to Vietnam Konstantin V.Vnukov sign an amended protocol, which facilitates auto production in Vietnam. (Photo: VNA)
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NDO/VNA – Russian auto makers will join together with Vietnamese partners to set up manufacturing companies in Vietnam, as part of an amended protocol signed between the two governments in Hanoi on December 27.

Minister of Industry and Trade Tran Tuan Anh and Russian Ambassador to Vietnam Konstantin V.Vnukov signed the pact, which facilitates auto production in Vietnam.

The document said that between 2018 and 2022, Vietnam will allow Vietnam-Russia joint ventures to import 2,550 completely built-up cars and 13,500 sets of auto spare parts without tariffs. The imported cars will be sold for the purpose of studying the market’s demand and taste.

This will give Russian car producers more time to gain an understanding of and secure their foothold in the Vietnamese market, while allowing local consumers to have more choice of cars.

The document also requires those companies to abide by Vietnam’s regulations on conditions for auto manufacturing, import and maintenance services.