Ms. Pham Chi Lan, former Vice President of the Vietnam Chamber of Commerce and Industry (VCCI), likened VinFast to the “big brother” of Vietnam’s supporting industry, a metaphor that is both familiar and reflects the strategic orientation role that this enterprise is playing. In the context that Vietnam is still struggling with the problem of localization and developing basic industries, VinFast is not only a pioneer in the field of electric car manufacturing but also proactively establishing a supporting industrial ecosystem.
By calling for, connecting and enhancing the capacity of hundreds of domestic suppliers, VinFast has been paving the way for a generation of Vietnamese enterprises to rise up and gradually participate more deeply in the global supply chain. This "leading" role has turned VinFast into an important driving force helping Vietnam's supporting industry transform from a passive to an active position, from simple processing to high-tech manufacturing.
Creating momentum for localization rate
The localization rate is one of the key indicators reflecting the depth and competitiveness of the industry. By achieving over 60% localization in less than a decade, VinFast has surpassed many foreign car manufacturers that have been present in Vietnam for a long time. What is worth mentioning is not just the number, but the way VinFast proactively pulls in supporting businesses, creating a new playing field for hundreds of domestic suppliers who have previously only been familiar with the role of processing and assembling.
The production of important components such as the body, battery, engine, etc., which previously relied entirely on imports, is now being done domestically, under close cooperation between VinFast and Vietnamese partners. This not only helps reduce costs and increase initiative, but also lays the foundation for building long-term industrial capacity.
Paving the way for supporting businesses to grow
VinFast’s success has created a strong ripple effect in the manufacturing business community. Many small and medium-sized enterprises are gradually upgrading their technical standards and investing in more modern equipment to meet the stringent requirements of VinFast and other global corporations. This is the most positive impact that a leading enterprise can bring to the entire industrial ecosystem.
By proactively “holding hands”, sharing technical standards and quality control processes, VinFast has been promoting a class of Vietnamese enterprises to step out of their comfort zone and learn how to operate according to international standards. Many enterprises that used to produce low-end components can now participate in the manufacture of high-tech parts, ready to participate in the global supply chain.
The basis for VinFast to commit to purchasing all products
At the Conference, Ms. Thai Thi Thanh Hai, Vice President of Vingroup and Deputy General Director of VinFast Global, shared about VinFast's strong development orientation in the coming period, and announced a series of breakthrough incentive policies to attract and accompany partners in the supporting industry supply chain.
Demonstrating its commitment to sustainable cooperation, VinFast has introduced many practical support measures, creating favorable conditions for domestic supporting enterprises to participate more deeply in the company's production ecosystem.
Specifically, VinFast will support up to 50% of land rental fees for the first 3 years and continue to offer a 20% discount for the next 5 years for partners investing in building factories at two large production complexes located in Hai Phong and Ha Tinh, VinFast's key industrial centers.
Notably, VinFast aims to achieve a localization rate of up to 80% by 2026, an ambitious milestone in the context of Vietnam's supporting industry still in the process of formation and development. In terms of output, the company aims to reach 500,000 vehicles/year by 2027 and 1 million vehicles/year by 2030, numbers that demonstrate the continuous expansion of its global strategy.
Not stopping there, VinFast also committed to purchasing output products for domestic supporting enterprises according to a pre-agreed plan. This not only helps ensure stable output but also creates more motivation for partners to boldly invest and expand production.
Along with financial and market support, VinFast also proactively promotes technology transfer by connecting Vietnamese enterprises with international partners. Thereby, domestic supporting enterprises will have the opportunity to access modern technology, improve production level and competitiveness in the global market.
Source: https://khoahocdoisong.vn/vinfast-nguoi-anh-ca-dan-loi-cong-nghiep-phu-tro-viet-nam-post1546979.html
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