3:26:43 PM | 7/8/2005
A delegation of 25 car parts production companies from South Korea has arrived in Vietnam to seek investment opportunities here, according to Dau Tu (Investment) Newspaper, a mouthpiece of the Ministry of Planning and Investment.
Visiting companies are the satellite branches of General Motor Daewoo, which is the parent company of Vietnam’s Vidamco, it said.
The delegation will work with the Ministry of Planning and Investment, the Ministry of Industry, Vinh Phuc Provincial People’s Committee and other relevant bodies before making the final investment decision.
New car parts producers will help increase the locally made parts content in the assembled-in-Vietnam cars.
According to government statistics, the locally made parts ratio in cars produced by 11 operational car joint ventures is around 10 per cent.
Vietnamese
