Assembling automobiles at a VinFast plant in the DeepC Industrial Zone in Hải Phòng City. — VNA/VNS photo

HÀ NỘI — VinFast, a leading electric vehicle maker in Việt Nam, announced a wide range of incentives to support local suppliers during a Monday conference focused on boosting local sourcing and building a strong supply chain.

The event attracted over 1,000 companies from the industrial and supporting sectors, including around 700 existing VinFast partners and more than 300 potential suppliers exploring collaboration opportunities.

Its aim is to foster the development of Việt Nam's high-tech automobile industry, includes significant financial benefits such as a 50 per cent reduction in land rental fees for suppliers establishing manufacturing facilities.

Thái Thị Thanh Hải, vice chairwoman of Vingroup and deputy general director of VinFast Global, emphasised the company's commitment to sustainable growth in Việt Nam's automotive sector.

VinFast aims to boost its local content ratio to 80 per cent by 2026, with an ambitious goal to produce 500,000 vehicles by 2027 and reach 1 million vehicles annually by 2030.

To achieve these targets, the company is expanding its domestic supply chain and implementing attractive incentives for Vietnamese businesses.

The new policy offers substantial benefits for partners investing in production facilities at VinFast’s plants in Hải Phòng City and Hà Tĩnh Province, including a 50 per cent discount on land rental for the first three years and a 20 per cent discount for the subsequent five years.

VinFast has also committed to purchasing products from these partners based on mutually agreed plans, alleviating concerns regarding market access and allowing suppliers to scale their operations confidently.

The company not only aims to provide financial support but also seeks to act as a bridge connecting domestic companies with international partners.

This initiative is expected to facilitate technology transfer and enhance knowledge sharing, ultimately improving the global competitiveness of Vietnamese suppliers.

The conference marked a significant milestone in VinFast’s long-term strategy to build a comprehensive electric vehicle ecosystem in the country.

Many suppliers expressed optimism about the new collaboration model with VinFast, highlighting that the commitment to product purchase and land rental support will encourage them to invest in production capabilities and enhance quality.

Through strategic partnerships, these companies hope to align more closely with international standards, reduce dependence on imports and deepen their involvement in the global automotive supply chain. — BIZHUB/VNS