KAMAZ plans to launch the mass assembly of trucks at its factory in Vietnam

KAMAZ plans to launch the mass assembly of trucks at its factory in Vietnam


 

TASS.- Kamaz plans to launch the mass assembly of trucks at its plant in Vietnam in 2020, as told by the General Director of the Company Sergei Kogogin to journalists on the sidelines of the St Petersburg International Economic Forum.

“Vietnam is a very important market for us. We have a factory there, suitable for production at this stage. We’ll get ready this year for the launch of assembly in 2020. Previously, these kind of operations were not economically very feasible, however, since the regulatory framework has changed and the duties on assembly kits turned out to be higher than on finished cars, we have switched to the supply of complete vehicles” – Kogogin said.

“Power structures are beginning to upgrade the fleet, on the condition of local assembly. They insist on local production. We are ready for these conditions and currently working on the investment project, deciding on the timescale and the starting date. The country has a population of 95 million people and a minimum GDP growth rate of 6%. Vietnam is principally a place of interest for nearly all manufacturers today” – he stressed. Kogogin added that the companies should get stronger in Asian markets.

Kamaz plans to assemble around 1000 vehicles a year, at the first stage of the mass assembly of trucks. The investment amount will be up to $10 million.