VinFast was licensed to invest a total of about 80 million Euro in its projects in France, Germany and the Netherlands.

The firm has recently asked for approval of increasing its investment by more than 120 million euros to over 200 million euros in these countries.

According to a written notice of the conclusion of Deputy Prime Minister Tran Luu Quang on the issue, released by the Government Office last week, the Ministry of Planning and Investment, the State Bank and related agencies have been assigned to consider VinFast’s overseas projects, based on current regulations.

VinFast announced its plan to open more than 50 stores in Europe at the 35th International Electric Vehicle Symposium and Exhibition (EVS35) in Norway last June.

Accordingly, there will be at least 25 VinFast stores in Germany, 20 in France and five in the Netherlands.

The first stores will be built in Frankfurt, Berlin, Cologne, Oberhausen and Hamburg of Germany; Paris, Marseille, Nantes, Rennes, Nice, Montpellier, Aix en Provence and Metz of France; and Amsterdam of the Netherlands.

In October 2022, within the framework of the Paris Motor Show 2022, VinFast announced its business plan in Europe and opened its headquarters in in Frankfurt (Germany), Paris (France) and Amsterdam (Netherlands). VinFast has recruited hundreds of employees for these offices.

In March 2021, Vingroup registered to invest in four projects abroad and increased investment capital in the US and Germany, with total investment capital of nearly 450 million USD.

Luong Bang