Mitsubishi Motors to build second plant in Vietnam

Deputy Prime Minister Vuong Dinh Hue (R) and Mitsubishi Motors Executive Vice President Kozo Shiraji (Source: VPG) Hanoi, January 15 (VNA) – Vietnam welcomes MitsubishiMotors’ plan to build its second plant in the country, said Deputy PrimeMinister Vuong Dinh Hue while receiving the group’s Executive Vice President KozoShiraji in Hanoi on January 15.At the reception, Hue highlighted cooperation in auto andsupport industries as a priority in Vietnam – Japan ties. Mitsubishi Motors’expansion in Vietnam will contribute to the country’s industrialisationstrategy within the framework of the Vietnam – Japan cooperation toward 2020,he said.Investing in Vietnam, the group will capitalise on localworkforce and enjoy tariff incentives, Hue added, saying that if Vietnam raisesits rate of locally made products to 40 percent, its exports to other ASEAN memberstates will enjoy zero tariff.Vietnam will create favorable conditions for MitsubishiMotors to carry out its projects in the country, the official said.Thanking assistance from the Vietnamese Government and the Ministryof Industry and Trade, Kozo Shiraji said Vietnam is one of key production hubsof his company in Southeast Asia with a source of young and skilled labours.He said Mitsubishi Motors is looking for a location to setup its second factory in the country. The plant costs approximately 250 millionUSD, with a manufacturing capacity estimated to reach 30,000 – 50,000 cars onan annual basis.To ensure the factory’s operation in 2020, developedindustrial parks or economic zones near sea ports are more likely to beselected, Kozo Shiraji said.The project aims at contributing to the local socio-economicgrowth and forming more partnerships in eco-car production… [Read full story]


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