VinFast Offers Up to 50% Land Rental Discount and Output Commitment to Vietnamese Auto Part Enterprises
This practical initiative aims to share growth opportunities and motivate the development of local auto part enterprises, contributing to the success of Vietnam’s high-tech automotive industry.
The announcement was made at the “Enhancing Localization and Supplier System Development” conference hosted by VinFast, attracting over 1,000 leading enterprises in industrial and auxiliary production in Vietnam.
Approximately 700 enterprises are current partners of VinFast, and over 300 potential partners are seeking opportunities to join the company’s global automotive production chain.
At the conference, Ms. Thai Thi Thanh Hai, Vice Chairwoman of Vingroup and Deputy CEO of VinFast Global, shared the company’s development plans and announced a series of attractive policies to support suppliers.
Regarding localization, VinFast aims to achieve an 80% localization rate by 2026. In terms of production volume, VinFast targets a capacity of up to 500,000 vehicles by 2027 and aims for 1 million vehicles per year by 2030.
To meet these ambitious goals and share development opportunities with Vietnamese enterprises, VinFast will expand its domestic supply chain, offering special support conditions to local businesses.
Specifically, VinFast will provide a 50% land rental discount for the first three years and a 20% discount for the next five years to partners who invest in building factories at VinFast’s automotive complexes in Hai Phong and Ha Tinh.
In addition to land support, VinFast commits to output commitment, ensuring product off-take according to agreed plans with partner enterprises.
Moreover, VinFast will facilitate connections between Vietnamese enterprises and foreign partners upon request, enabling technology transfer, knowledge sharing, and enhancing international competitiveness. This will empower local businesses to actively participate in the global supply chain.
“VinFast wishes to share development and success opportunities with the domestic business community,” said Ms. Thai Thi Thanh Hai. “Together, we will create a strong internal force, enhancing the global competitiveness of Vietnam’s automotive industry.”
The “Enhancing Localization and Supplier System Development” conference organized by VinFast is the largest event of its kind for domestic suppliers. It offers Vietnamese enterprises a chance to join the global electric vehicle production chain and contribute to the development of Vietnam’s auxiliary industry, aiming to become one of the leading countries in Southeast Asia.
VinFast is the first and only electric vehicle brand in the region. With production complexes in Hai Phong and Ha Tinh and upcoming factories in India, Indonesia, and other countries, VinFast is expanding its global presence.
VinFast’s electric vehicles have gained the trust and admiration of customers in Vietnam and various international markets, competing head-on with established automotive brands worldwide.
After eight years, VinFast has emerged as Vietnam’s top automotive brand since 2024. While maintaining its dominant position in the domestic market, VinFast is steadily establishing itself in international markets, continuously expanding its global footprint.
Nhung Nguyen (Tuoitrethudo)
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