Deputy Prime Minister Hoang Trung Hai has asked concerned ministries to accelerate the implementation of Vietnam’s automobile industry development plan through 2010 and 2020.
He requests the Ministry of Industry and Trade (MIT) to supervise the operation of local auto and auto parts manufacturers while regularly updating the plan to suit the newest trends. The Ministry was also required to help develop the auto distribution network in a bid to stabilize the local auto market and promote the export of home-made cars.
The Ministry of Science and Technology shall set standards for home-made and imported cars and strictly screen auto production technology transfers.
The Ministry of Finance shall coordinate with concerned ministries in formulating investment incentives for local auto and auto parts makers.
The Ministry of Planning and Investment will be in charge of luring foreign and domestic investment in the auto industry, especially the manufacture of auto parts.
In addition, provincial-level authorities are required to strictly assess auto projects before licensing them, paying particular attention to technology and financial capacities and environmental protection solutions.-