This was the first time a Vietnamese automobile manufacturer had exported such products to the US, which has the highest technical barriers in the world. With the selling price of at least $40,000, VinFast will pocket $40 million if the sales go smoothly.

Prior to that, Thaco, also a 100 percent Vietnamese automobile manufacturer, said in early 2022 it exported 500 sedans to ASEAN and semi-trailers to the US. 

In addition, it has exported car parts with total estimated export turnover of $190 million this year, four times higher than 2021.

Thanh Cong Group last week inaugurated the automobile plant No2 in Gian Khau IZ in Ninh Binh province, a modern plant with technology transferred from South Korea and smart production line. 

The plant has a total designed capacity of 100,000 products per annum. Together with plant No1, Thanh Cong would have a total capacity of 180,000 products a year, which would not only satisfy the domestic market but also exports.

Vietnam’s automobile exports remain small, but this has an important significance to the development of the processing and manufacturing industry. 

Opening export markets, especially in developed and competitive areas, will help prove enterprises’ capability and increase productivity.

Nguyen Minh Dong, a respected automobile expert, said that no auto manufacturer in the world makes products only for domestic markets. They also export products to expand markets, increase output, optimize costs, and improve competitiveness.

The more products that countries can export, the more they can prove their capability of their processing and manufacturing industries, the key to the prosperity of a nation.

Tran Thuy