Mitsubishi Motors’ second plant to take shape in Vietnam

Hue told his guest that Mitsubishi Motors’ expansion in Vietnam will contribute to the country’s industrialization strategy within the framework of the Vietnam – Japan cooperation toward 2020 and he also extolled cooperation in auto and support industries as a priority in Vietnam-Japan relations.Hue also assured Vietnam’s willingness to offer optimal conditions for Mitsubishi Motors to undertake its projects in the country.He said by investing in Vietnam, the group will be able to take full advantage of local workforce and enjoy tariff incentives. If Vietnam increases its rate of locally made products to 40%, its exports to other ASEAN member states will enjoy zero tariff, he added. Kozo Shiraji for his part thanked the Vietnamese Government and the Ministry of Industry and Trade for their assistance, saying that Vietnam is one of key production hubs of his company in Southeast Asia with young and skilled workers. Mitsubishi Motors is looking for a suitable location to set up a US$250 million second factory in Vietnam with an annual manufacturing capacity estimated at 30,000 – 50,000 cars. The project is designed to stimulating the local socio-economic growth and share the possibility of future cooperation in eco-car production.

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