DPM urges Hyundai Corporation to enhance technology transfer in VN

VGP – Deputy PM Trinh Dinh Dung expected that the Republic of Korea (RoK)’s Hyundai Corporation will accelerate technology transfer and expand investment in Viet Nam at his reception for Vice Chairman at Hyundai Engineering & Construction Co Ltd Jin Haeng Chung on February 22 in Ha Noi.

February 23, 2019 9:13 AM GMT+7

Deputy PM Trinh Dinh Dung receives Vice Chairman at Hyundai Engineering & Construction Co Ltd Jin Haeng Chung, Ha Noi, February 22, 2019 - Photo: VGP/Nhat Bac

At the meeting, Mr. Dung asserted that the Vietnamese Government always advocates and facilitates foreign and domestic investors, including ones from the RoK to launch operations in Viet Nam.

The development of automobile industry is the core policy in Viet Nam’s industrialization strategy, giving priority to producing cars for domestic consumption, he said.

New policies will be established in principles of highlighting the consistency, continuance, transparency, easy forecast, competitiveness and attractiveness to ensure the development of sustainable automobile development, Mr. Dung affirmed.

He required the Hyundai Corporation will identify Viet Nam as a strategic production hub and raise the proportion of local content to at least 40%.

For his side, Mr. Jin Haeng Chung confirmed that the corporation highly valued the Vietnamese Government’s determination and automobile development policies, adding that the corporation has planned to pour more investment, and enhance technology transfer for the automobile development in Viet Nam.

By Hoang Ha