Deputy Prime Minister Nguyen Hoa Binh visits VinFast Hai Phong Manufacturing and Trading JSC. Photo: VGP
Yesterday afternoon (December 14), Deputy Prime Minister Nguyen Hoa Binh visited and worked with VinFast Hai Phong Manufacturing and Trading JSC (Dinh Vu Economic Zone, Cat Hai Island, Cat Hai Special Zone, Hai Phong City).
At VinFast Hai Phong Manufacturing and Trading JSC, the Deputy Prime Minister listened to an introduction about the investment and business operations, inspected the factories, and surveyed the company’s production lines.
VinFast Hai Phong’s manufacturing and trading project is a complex of factories producing gasoline and electric cars, electric motorbikes, electric bicycles, smart vehicles, self-driving cars, clean energy, and providing industrial park services and auxiliary activities for automobile and motorbike production.
Delighted with the robust development of Vingroup in general and VinFast in particular, the Deputy Prime Minister stated that the Party and State’s policy is to create favorable conditions for the private sector’s growth. The Central Committee has issued a Resolution on private economic development with breakthrough solutions. In the future, many key and strategic national sectors will be entrusted to private enterprises, with Vingroup being one of the selected entities.
Deputy Prime Minister Nguyen Hoa Binh visits VinFast Hai Phong Manufacturing and Trading JSC. Photo: VGP
According to the Deputy Prime Minister, Vingroup has been a leading private enterprise in applying high technology, with the development of electric vehicles being a timely and appropriate step in line with global trends and Vietnam’s commitment to Net Zero.
Furthermore, in the automotive industry, Vingroup’s product localization rate has increased rapidly. The reputation and brand of VinFast automobiles are recognized in many countries worldwide, enhancing the prestige and brand of Vietnamese products. This benefits both the corporation and the nation.
“As the nation enters a new era of national advancement, businesses must first strive to innovate and enhance technology application. With a strategic vision and well-planned steps, I believe Vingroup and VinFast will continue to achieve new and greater successes,” the Deputy Prime Minister emphasized.
VinFast’s Hai Phong Factory Aims for a Capacity of 1,000,000 Cars per Year
Deputy Prime Minister Nguyen Hoa Binh inspects VinFast’s factories and production lines. Photo: VGP
The VinFast Hai Phong manufacturing and trading project has a total production capacity of 500,000 cars per year and aims to reach a capacity of 1,000,000 cars per year. Additionally, the production capacity for electric motorbikes and electric bicycles is 1,000,000 units per year.
The land area dedicated to the VinFast production complex is 310 hectares, with an additional 38 hectares of shared land. The total investment for this project is 175 trillion VND.
Construction began in September 2017. By September 2018, the E-scooter electric motorbike production complex was operational. In July 2019, the gasoline car production complex started operations. The electric bus production complex (with seating capacity including the driver of 10 or more) began operations on January 15, 2021. From October 18, 2021, the electric car production complex (with seating capacity including the driver of 9 or fewer) commenced operations.
As of Q3 2025, VinFast has delivered 110,362 electric cars globally. In the first nine months of this year, VinFast delivered 234,536 electric motorbikes. With these results, VinFast currently holds the top market share in Vietnam’s automotive sector, accounting for approximately 20%.
The project’s localization rate is approximately 60%, with mastery of core technologies such as body, engine, and battery systems. VinFast aims to increase the localization rate to 84% by 2026.
In 2024, VinFast Hai Phong Manufacturing and Trading JSC contributed nearly 1.92 trillion VND to the state budget. It is projected to contribute over 2.23 trillion VND in 2025 and provide employment for 11,500 people, with an average income of 15 million VND per person per month.
Deputy Prime Minister Nguyễn Hòa Bình Visits VinFast and Hateco Hai Phong International Container Port
This afternoon (December 14th), Deputy Prime Minister Nguyễn Hòa Bình visited and worked with VinFast Manufacturing and Trading Joint Stock Company in Hai Phong (Dinh Vu Economic Zone, Cat Hai Island, Cat Hai Special Zone, Hai Phong City) and the Hateco Hai Phong International Container Port.
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Collaborating with VinFast and Hateco in Hai Phong, Deputy Prime Minister Nguyen Hoa Binh underscored the pivotal role of private enterprises in strategic industries and infrastructure development.
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