Russia and Belarus will manufacture cars in Vietnam

Vietnam finalized the talks with Russia and Belarus on industrial assembly of transport facilities on its territory. It was announced by the European Markets Department of the Ministry of Industry and Trade (MOIT) of Vietnam. Two protocols on cooperation in cars production sphere between Vietnam, Russia and Belarus were initialed. These documents allow for establishing joint plants of Russian and Belarusian companies and Vietnamese partners to manufacture lorries and some special automotive vehicles on the territory of Vietnam. An agreement on industrial assembly of auto transport facilities will be a part of the package of the Free Trade Zone agreements between the Eurasian Economic Union (EAEU) and Vietnam signed in May 2015 in Astana. Russian companies KAMAZ, GAZ and UAZ and Belarusian company Minsk Automobile Plant (MAZ) expressed their interest in cooperating with the Vietnamese partners. Under the terms of the agreement Vietnam will provide the joint plants with a permission to import free of charge a number of fabricated cars to be sold to explore the demand of the Vietnamese market. Moreover, imported components for facilities assembling cars in Vietnam will be free of import taxes. In their turn car manufacturers commit to increase a level of localization of cars manufacturing to 35 per cent by 2020 and 45 per cent by 2016.
Press-release at BELTA – TASS web-site (in Russian)