Toyota Vietnam to bolster supporting industry businesses in Vinh Phuc province
Japan's leading car manufacturer Toyota will support Vinh Phuc province-based enterprises in the automotive supporting industry to improve their capacity and develop the local economy.
Toyota Vietnam’s display area at Tech Fest Vinh Phuc 2024. Photo courtesy of Toyota Vietnam.
To this end, Toyota Vietnam and the provincial People’s Committee signed an MoU during Tech Fest Vinh Phuc 2024 on Friday and Saturday. The event formed part of Project 844, approved by the Prime Minister, to support the national startup ecosystem through innovation until 2025.
The program, set to run from 2025-2027, will focus on strengthening the connection between Toyota and the northern province in key sectors, including manufacturing, automotive supporting, and electric vehicles.
Toyota will also help introduce qualified experts to provide consulting, training, and production support for local businesses.
The carmaker will assist Vinh Phuc in promoting investment both locally and in Japan. The partnership will include organizing activities and workshops to connect Japanese companies with local businesses.
Toyota and Vinh Phuc will also collaborate in compiling a handbook of criteria for selecting businesses and suppliers capable of joining Toyota’s global supply chain.
Vinh Phuc is home to Toyota's factory in Vietnam. The province is an industrial center in northern Vietnam, together with Hai Phong, Hai Duong, Hanoi, Bac Ninh, Thai Nguyen, and Ha Nam.
Nakano Keita, CEO of Toyota Vietnam, said at the event: “At Toyota Vietnam, our top priority is to make a positive contribution to the development of Vietnam’s automotive and supporting industries. With our philosophy of ‘Before we make cars, we make people,’ we believe Toyota can play a key role in the country’s sustainable development. At the same time, we are committed to helping meet the nation’s Net Zero goals and providing mobility solutions for everyone.”
Earlier, Toyota Vietnam, in cooperation with the Ministry of Industry and Trade’s Industry Agency, held a closing ceremony for the 2024 business improvement consulting support program in the supporting industry.
This initiative, part of a 2024-2025 collaboration between Toyota and the Industry Agency, aims to enhance local enterprises’ capacities and strengthen their ties with automotive assemblers.
In the fifth year of this collaboration, Toyota directly supported five local companies: Sigma Technology and Trade Vietnam Co., Ltd., Intech Group, Hoa An Import-Export JSC, Z131 Factory, and Haast Industry Co., Ltd. The Japanese carmaker sent experts to these businesses to identify challenges and provide on-site consultations and support.
- Related News
- Read More
Vietnam-US issue joint statement on Reciprocal Trade Agreement Framework
Vietnam and the United States on October 26 issued a joint statement on the Framework for a Balanced and Fair Reciprocal Trade Agreement after many months of negotiations.
Economy - Sun, October 26, 2025 | 9:28 pm GMT+7
MBBank achieves sustainable growth in 9 months, leads digital transformation
Hanoi-based MBBank recorded positive growth across scale, efficiency, and asset quality in the first nine months of the year, underscoring its strong internal resilience amid continued volatility in the financial market.
Banking - Sun, October 26, 2025 | 5:38 pm GMT+7
Vingroup to develop 6,300 ha urban complex project in Congo
Vietnam's leading private conglomerate Vingroup (HoSE: VIC) and the government of Kinshasa, the capital of the Democratic Republic of the Congo (DRC), will jointly explore and develop a 6,300-hectare riverfront mega-urban project.
Real Estate - Sun, October 26, 2025 | 12:57 pm GMT+7
Vietnam’s Ministries of Foreign Affairs, Natural Resources & Environment, and Home Affairs have new heads
Le Hoai Trung was appointed on Saturday as Minister of Foreign Affairs, Tran Duc Thang as Minister of Natural Resources and Environment, and Do Thanh Binh as Minister of Home Affairs.
Politics - Sun, October 26, 2025 | 11:22 am GMT+7
Intel eyes shifting more production to Vietnam
U.S. chipmaker Intel plans to shift its assembly, packaging, and testing operations from its Costa Rica facility to potential markets such as Vietnam, said Kenneth Tse, general director of Intel Products Vietnam.
Industries - Sun, October 26, 2025 | 9:05 am GMT+7
Vietnam's securities regulator seeks to expand institutional market participation
The State Securities Commission of Vietnam (SSC) is preparing a comprehensive package of measures to allure more institutional investors to the stock market, which currently sees up to 85-90% of total transaction value come from retail investors.
Finance - Sun, October 26, 2025 | 8:00 am GMT+7
VAFIE, Nghe An province tax authority help businesses update new tax policies
The Vietnam's Association of Foreign Invested Enterprises (VAFIE) and the Nghe An province Tax Department on Friday co-hosted a tax policy workshop titled “New tax policies impacting business operations and accounting standards under IFRS.”
Companies - Sat, October 25, 2025 | 7:28 pm GMT+7
Vietnam parliament okays appointing 2 new Deputy Prime Ministers
Vietnam's legislature has approved Prime Minister Pham Minh Chinh's proposal to appoint Ho Quoc Dung, former Party chief of Gia Lai province, as Deputy Prime Minister, while Pham Thi Thanh Tra, a Party Central Committee member, became the country's first female Deputy Prime Minister.
Politics - Sat, October 25, 2025 | 6:32 pm GMT+7
Foxconn unit ShunYun injects extra $15 mln into northern Vietnam subsidiary
ShunYun Technology Co., a subsidiary of Taiwanese electronics giant Foxconn, has announced an additional $15 million investment into its Vietnamese arm in the northern province of Bac Ninh, according to a filing with the Taiwan Stock Exchange.
Industries - Sat, October 25, 2025 | 4:57 pm GMT+7
DNP Water, Samsung E&A launch $69 mln inter-regional water project in Vietnam’s Mekong Delta
A subsidiary of Vietnam’s water supplier DNP Water and South Korea’s Samsung E&A have broken ground on a VND1.82 trillion ($69.2 million) inter-regional raw water infrastructure project in the Mekong Delta, marking a major step toward improving the region’s water security.
Infrastructure - Sat, October 25, 2025 | 4:50 pm GMT+7
Vietnam’s bond market heats up as major corporates return
Vietnam’s corporate bond market is regaining momentum as large conglomerates join banks and brokerages in successful issuances.
Finance - Sat, October 25, 2025 | 9:33 am GMT+7
Decentralization and the potential for multi-center urban development in HCMC’s satellite areas
If managed well, urban decentralization and multi-center development can ease housing pressures in central HCMC and usher in a more balanced growth phase for the southern region's residential market, write Avison Young Vietnam analysts.
Real Estate - Sat, October 25, 2025 | 8:00 am GMT+7
Chinese firm proposes its 3rd waste-to-power plant in Vietnam
China’s EverBright Environment has proposed investing about VND1.6 trillion ($60.82 million) in a waste-to-energy plant in the central province of Quang Tri.
Energy - Fri, October 24, 2025 | 8:45 pm GMT+7
Mega golf-commercial-urban complex proposed for southern Vietnam city Can Tho
Vietnam Royal Investment Group JSC has proposed developing a 766-hectare golf-service-commercial-urban complex in the Mekong Delta city of Can Tho.
Real Estate - Fri, October 24, 2025 | 4:31 pm GMT+7
Sumitomo makes first hydropower investment in Vietnam
Sumitomo Corporation has made its first hydropower investment in Vietnam by acquiring a 49% stake in Mekong Electric Power Engineering and Development JSC which owns the 48 MW Dak Di 1 & 2 run-of-river hydropower project in Danang city.
Energy - Fri, October 24, 2025 | 3:42 pm GMT+7
Investors urge Vietnam to fix legal hurdles to LNG power projects
A group of investors in Vietnam’s gas-fired power sector has urged the country's parliament to address regulatory gaps that have stalled multi-billion-dollar LNG and domestic gas-fueled power projects, warning that delays could derail the country’s energy transition targets.
Energy - Fri, October 24, 2025 | 2:12 pm GMT+7
