Russian truck makers to open joint ventures to boost business in Vietnam

By Anh Minh December 28, 2017 | 17:13 GMT + 7

A VnExpress file photo shows a truck from Russian automaker Kazma in Vietnam.

The joint ventures will have a duty-free import quota of 2,550 heavy vehicles to test the market.

Russian automakers specializing in trucks and all-terrain vehicles have set their sights on forming joint ventures to expand production in Vietnam.

The joint ventures are expected to partner with major Russian producers such as Kamaz, Gaz and Uaz to develop the Vietnamese auto industry and expand its offering to the € 640 million Southeast Asian market, according to a signed agreement. by the Vietnamese Ministry of Commerce and the Russian Federation. embassy in Hanoi on Wednesday.

They will be allowed to import 2,550 automobiles, mainly trucks, all-terrain vehicles and cars with 10 or more seats, and 13,500 sets of assembly parts duty free between 2018 and 2022 to test the market capacity. .

Commerce Minister Tran Tuan Anh said the tax exemption will allow joint ventures to use Russian expertise and technology at low cost.

Vietnam and Russia’s trade revenues reached over $ 3.2 billion in the first 11 months of this year, up 27% from a year ago, but still well below l goal of 10 billion dollars set by the country for 2020.

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