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INVESTMENTOPPORTUNITIES

Mitsubishi considers plan to produce electric vehicles in Vietnam

Updated at Thursday, 30 Aug 2018, 13:15
The Hanoitimes - Deputy Prime Minister Vuong Dinh Hue stated that Vietnam will provide incentive commensurate with environmentally-friendly products, the government portal reported.
Japan's Mitsubishi Corporation planned to invest in an electric car manufacturing factory in Vietnam, noting that the company is evaluating the feasibility of the project, stated Hiroshima Sakuma, executive vice president of Mitsubishi. 
 
Illustrative photo.
Illustrative photo.
Moreover, Mitsubishi expected new regulations on environment protection taxes to be in place to speed up investment in the factory, said Sakuma in a meeting with Vietnam's Deputy Prime Minister Vuong Dinh Hue on August 29.

Referring to the two build-operate transfer (BOT) thermal power projects in Vietnam, namely Vung Ang 2 with capacity of 1,200 MW and Vinh Tan 3 of 1,980 MW, Sakuma informed that the Vietnam's Ministry of Industry and Trade (MoiT) and Mitsubishi signed an investment agreement in early 2017, including land lease and power purchase contracts. 

Mitsubishi requested Vietnam's support in resolving bottlenecks related to tax incentives, so that the projects can be put into operation and increase the electricity supply capacity for the Vietnam's market, Sakuma added. 

Deputy PM stressed the importance of Mitsubishi's power plants project to Vietnam, expressing his hope that the cooperation agreements on implementing the two projects could be signed during Prime Minister Nguyen Xuan Phuc's visit to Japan in October. 

Hue also expected Mitsubishi to decide on investing in a electric car factory in Vietnam. 

According to Hue, Vietnam's National Assembly is scheduled to discuss the approval of the draft law on environmental protection tax in the coming time, of which there will be incentives commensurate with environmentally-friendly products.
Ngoc Mai
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