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SL Embassy in Vietnam discusses investment opportunities with EV Manufacturer, VinFast

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The Embassy in Vietnam had a meeting with the top-most management of the iconic automobile manufacturer, VinFast, at their corporate Head 0ffice in Ha Noi to discuss and explore commercial and investment opportunities, thus benefiting both Sri Lanka and VinFast.

VinFast is the auto manufacturer under the parent company of Vingroup, one of the largest listed corporates in South-East Asia. The Ambassador Dr. A. Saj U. Mendis along with the Minister Commercial, Kishani Wickramasinghe, met with the Vingroup Chief of International and Government Affairs cum VinFast Deputy CEO, Bui Kim Thuy, along with the senior management of VinFast.

VinFast is one of the very few auto manufacturers specialized in manufacturing Electric Vehicles (EVs) as well as other conventional vehicles. Being one of the largest auto manufacturers not only in the region but in the world, when VinFast was listed on the US Stock Exchange, Nasdaq, in August of 2023.

The market capitalization of VinFast in August 2023 was higher than the combined market cap of both General Motors and Ford of the US as it exceeded USD 110 billion or over 25% of the total GDP of Viet Nam. During the recent past, VinFast, also invested USD 4 billion in the State of North Carolina in the US on a state-of-the-art manufacturing facility and USD 500 million in Chennai, India, as well as has investment propositions to commit USD 1.2 billion in Indonesia respectively.

VinFast produces around 300,000 vehicles per year and has the potential to produce one million vehicles.

Dr. Mendis stated to Deputy CEO Thuy to consider Sri Lanka, favorably, to have commercial operations such as outsourcing, manufacturing or assembly plant, thus facilitating and ensuring the smooth functioning of the global supply chains as well as complementing the manufacturing facilities of VinFast.

Further, Ambassador Mendis listed out the compelling and appealing factors and attributes of Sri Lanka in order to be considered as an investment destination as well as to be engaged in commercial activity as pertinent.

The post SL Embassy in Vietnam discusses investment opportunities with EV Manufacturer, VinFast appeared first on DailyNews.

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