Thanh Cong Group inaugurates first automobile manufacturing plant in Vietnam's Quang Ninh province

By Vietnam News Agency
Thu, March 27, 2025 | 3:32 pm GMT+7

Vietnamese automaker Thanh Cong Group officially inaugurated its Thanh Cong Viet Hung automobile manufacturing plant on Wednesday at the Viet Hung Industrial Park in the northern province of Quang Ninh.

Delegates cut the ribbon to inaugurate the Thanh Cong Viet Hung automobile manufacturing plant in Quang Ninh province, northern Vietnam. Photo courtesy of Vietnam News Agency.

Delegates cut the ribbon to inaugurate the Thanh Cong Viet Hung automobile manufacturing plant in Quang Ninh province, northern Vietnam. Photo courtesy of Vietnam News Agency.

The event was attended by Vice Chairman of the National Assembly Vu Hong Thanh and Deputy Prime Minister Bui Thanh Son.

This is the first automobile manufacturing plant in Quang Ninh, a major milestone for both the province and Vietnam’s automotive industry.

Following the inauguration, the plant, located in Ha Long town, will commence operations, focusing on the production and assembly of commercial vehicles under the Skoda brand - one of the oldest automobile manufacturers from the Czech Republic.

The Thanh Cong Viet Hung plant is the centerpiece of the Thanh Cong Viet Hung Automotive and Supporting Industries Complex, an advanced industrial hub designed to become one of Vietnam’s leading automotive production centers. Covering 36.5 hectares, the plant boasts a designed capacity of 120,000 vehicles per year.

The plant features state-of-the-art production workshops, including welding, painting, and assembly lines, all equipped with high levels of automation and cutting-edge global automotive technologies. Its intelligent data management system ensures efficiency and strict quality control, aligning with international standards.

Its construction began in early 2023, and by late 2024, trial operations had commenced. After 25 months of development, the plant is fully completed and ready for production. To ensure smooth operations, Thanh Cong has also invested in logistics infrastructure, a wastewater treatment facility, and a 1.5 km-long test track designed to simulate various real-world driving conditions.

The first model, Skoda Kushaq, is set to hit the domestic market in the second quarter of 2025. The plant is expected to create thousands of jobs, boost Quang Ninh’s economy, and position Vietnam’s automotive industry as a stronger player in the global supply chain.

At the inauguration ceremony, Minister of Industry and Trade Nguyen Hong Dien reaffirmed the Government’s commitment to advancing key industries like automotive manufacturing as part of Vietnam’s long-term industrialization strategy.

He highlighted ongoing efforts to attract investment in large-scale, high-tech automotive projects and foster stronger ties between domestic and international manufacturers.

Dien expressed his confidence that Thanh Cong’s new plant, built according to international standards, would drive the industry forward, generate employment, and enhance Vietnam’s manufacturing competitiveness. He also reiterated the ministry’s support in helping automotive businesses expand production and integrate into global supply chains.

Chairman of the Quang Ninh provincial People's Committee Pham Duc An underscored the project’s significance, calling it a prime example of successful collaboration between Vietnam’s private sector and global industrial leaders.

He noted that such partnership will help Vietnam deepen its integration into international supply chains, boosting both local economic growth and national industrial self-sufficiency.

With Quang Ninh targeting a 14% economic growth rate in 2025, surpassing the national target by 2%, ensuring the Thanh Cong Viet Hung plant enters full-scale production as planned will be a key factor in achieving this goal, he said.

Comments (0)
  • Read More
Construction stocks ignite Vietnam’s market rally by year-end

Construction stocks ignite Vietnam’s market rally by year-end

FDI inflows into Vietnam are hitting record highs, while faster public investment disbursement and stable construction material costs are fueling a late-year surge in construction stocks, analysts said.

Finance - Mon, October 20, 2025 | 10:44 am GMT+7

Vietnam's central bank struggles to rein in cross-ownership

Vietnam's central bank struggles to rein in cross-ownership

Cross-ownership and bank manipulation in Vietnam have eased, yet control remains elusive as shareholders and related parties conceal ownership through nominees, the State Bank of Vietnam (SBV) said in a report to the country’s legislature.

Banking - Mon, October 20, 2025 | 8:34 am GMT+7

Viettel Post-invested $27 mln logistics center project breaks ground in central Vietnam

Viettel Post-invested $27 mln logistics center project breaks ground in central Vietnam

Viettel Post, a subsidiary of military-run Viettel Group, has broken ground on an over VND722 billion ($27.41 million) logistics center project in Danang city, which is expected to enhance the logistics capacity of Vietnam's central and Central Highlands regions.

Industries - Sun, October 19, 2025 | 7:35 pm GMT+7

Vietnam's stock market regulator introduces green bond disclosure handbook

Vietnam's stock market regulator introduces green bond disclosure handbook

By enhancing transparency and standardizing disclosures, the Green Bond Disclosure Handbook that the State Securities Commission of Vietnam (SSC) introduced will build investor trust, reduce greenwashing risks, and support the growth of a credible and resilient green finance market in Vietnam.

Finance - Sun, October 19, 2025 | 2:11 pm GMT+7

Central Vietnam province Lam Dong seeks investment for 72 projects

Central Vietnam province Lam Dong seeks investment for 72 projects

The Lam Dong province People's Committee has called for investment in 72 projects across various sectors which are set for implementation in 2025 and the 2026-2030 period.

Industries - Sun, October 19, 2025 | 1:31 pm GMT+7

Vietnam's leading conglomerate Vingroup ventures into senior living market

Vietnam's leading conglomerate Vingroup ventures into senior living market

Vingroup JSC (HoSE: VIC) has unveiled Vin New Horizon, a network of premium retirement and wellness communities built to international standards, marking the Vietnamese conglomerate’s strategic entry into the senior living market.

Industries - Sun, October 19, 2025 | 12:28 pm GMT+7

Vietnam’s agri major HAGL makes surprise return to property, saying land plot forgotten for 15 years

Vietnam’s agri major HAGL makes surprise return to property, saying land plot forgotten for 15 years

Vietnam’s agri major Hoang Anh Gia Lai JSC's (HAGL) return to real estate is an accident, after discovering a plot of land the company had “forgotten for 15 years” during its boom years, said chairman Doan Nguyen Duc.

Companies - Sun, October 19, 2025 | 10:02 am GMT+7

REE to set up 2 subsidiaries for wind projects in southern Vietnam

REE to set up 2 subsidiaries for wind projects in southern Vietnam

Ho Chi Minh City-based utility firm Refrigeration Electrical Engineering Corporation (HoSE: REE) has decided to establish two wholly-owned subsidiaries to develop two wind power projects in Vinh Long province, expanding its renewable energy portfolio in southern Vietnam.

Energy - Sun, October 19, 2025 | 8:00 am GMT+7

Australian CEO detained, NSH Petro’s recovery hopes collapse

Australian CEO detained, NSH Petro’s recovery hopes collapse

The recovery prospects of NSH Petro (PSH) have dimmed after its Australian CEO was detained on allegations of fraud involving false promises of billion-dollar financing that led to the misappropriation of nearly $4.9 million.

Companies - Sat, October 18, 2025 | 6:53 pm GMT+7

Maintaining market status upgrade a bigger challenge: official

Maintaining market status upgrade a bigger challenge: official

Vietnam's stock market status will be upgraded by FTSE Russell from "frontier" to "secondary emerging" from September 21 next year, but continued reform is critical as the bigger challenge is to maintain the new classification, said a market watchdog official.

Finance - Sat, October 18, 2025 | 1:30 pm GMT+7

HCMC partners with Nasdaq to develop int’l financial center

HCMC partners with Nasdaq to develop int’l financial center

The Finance Department of Vietnam’s southern metropolis Ho Chi Minh City has signed an MoU with the U.S.-based stock exchange Nasdaq on the development of an international financial center (IFC).

Top News - Sat, October 18, 2025 | 11:56 am GMT+7

Vingroup plans $325 mln issuance of international bonds

Vingroup plans $325 mln issuance of international bonds

Vietnam's leading private conglomerate Vingroup (HoSE: VIC) has announced a board of directors resolution to issue $325 million worth of international bonds, with a five-year term and a yield of 5.5% per year.

Companies - Sat, October 18, 2025 | 10:26 am GMT+7

Vietnam raises personal income tax deductions by over 40%

Vietnam raises personal income tax deductions by over 40%

The Standing Committee of Vietnam’s National Assembly, the country's legislature, on Friday approved a resolution on adjusting personal income tax (PIT) deductions, marking a significant increase of over 40% from current levels.

Economy - Sat, October 18, 2025 | 9:11 am GMT+7

EVN subsidiary spreads the spirit of solidarity, compassion

EVN subsidiary spreads the spirit of solidarity, compassion

The employees of National Power Transmission Corporation (EVNNPT) came together in an inspiring display of unity and compassion in October, each donating one day’s salary to support and express solidarity with the people of Cuba - a nation that has long shared a special friendship with Vietnam.

Companies - Sat, October 18, 2025 | 9:00 am GMT+7

Property fever prompts tighter inspection in central Vietnam's economic hub Danang

Property fever prompts tighter inspection in central Vietnam's economic hub Danang

Chairman of Danang city People’s Committee, Pham Duc An, has ordered a comprehensive inspection and audit of land valuation and auction activities to prevent and address market manipulation that could destabilize the local property market.

Real Estate - Sat, October 18, 2025 | 8:00 am GMT+7

Vietnam mulls opening door for private investment in small modular reactors

Vietnam mulls opening door for private investment in small modular reactors

Vietnam’s Ministry of Industry and Trade has drafted a parliamentary resolution that, for the first time, would allow private companies to participate in the development of small modular nuclear reactors (SMRs).

Energy - Fri, October 17, 2025 | 4:37 pm GMT+7