Hyundai Thanh Cong's 2nd factory helps turn Ninh Binh intonational auto assembly and manufacturing hub

After 15 years of construction and development, Hyundai Motor Group and Thanh Cong Group have been investing in eight projects in Gian Khau industrial park in Ninh Binh province, with total registered capital of nearly 12.14 trillion VND (almost 490 million USD), covering a total area of over 115 hectares.

The projects have been operating profitably and making great contributionsto the province's socio-economic development. The number of assembled and manufactured automobiles has increased year on year.

The second Hyundai Thanh Cong Vietnam auto factory  (HTMV2) is the biggest among the projects invested by Hyundai Motor Group and Thanh Cong Group. It spans an area of 50ha, with total registered capital of over 3.2 trillion VND  and has a total designed capacity of 100,000 units per year, raising the total capacity of Hyundai Thanh Cong in Ninh Binh to 180,000 units a year by 2025.

Licensed in September 2019, the project was kicked off when the first wave of the COVID-19 pandemic broke out in Vietnam. Though it suffered numerous difficulties, the project was completed and put in operation as scheduled.

Nguyen Minh Son, General Director of Hyundai Thanh Cong Vietnam Auto Joint Venture Joint Stock Company, the second factory will use the state-of-the-art technology that has been transferred from Hyundai Motor Group and leading partners in hi-tech manufacturing mechanics.

In the long term, the factory will apply eco-friendly technologies, ensuring European emission standards Euro 5.0 and Euro 6.0, and optimise the use of green energy in production.

In addition, the factory will have a standard testing road, green trees and a sewage system.

Cars manufactured by HTMV2 and HTVMV1 will have global standards, meeting the demand of the domestic market and heading to export to other markets in the region.

Thanh Cong Group has made great contributions to Ninh Binh's socio-economic development in the past recent years. Therefore, the provincial authorities have always issued incentives and created favourable conditions for the companyto expand production.

The Resolution of the22nd Congress of the provincial Party Organisation for the 2020-2025 tenure defined the orientation of green and sustainable development with the aim of building Ninh Binh as a national tourism center of the Red River Delta and the whole country. Therefore, Ninh Binh authorities have paid special attention to planning and developing a comprehensive economy towards a green and circular economy.

The province will give priority to attracting projects using hi-tech, clean and environmentally friendly technologies, with high valuesand great contributions to the state budget such as automobile assembly and manufacturing, supporting industry, digital industry and processing industry. It is striving to turn itself into an automobile assemly and manufacturing hub of the whole country.

To that end, Ninh Binh has always supported and accompanied local firms in general, and Hyundai Motor Group and Thanh Cong Group in particular.

It will continue implementing synchronously solutions in accordance with with the province's development requirements, especially  meeting Hyundai Thanh Cong and partners' needs to expand production. Ninh Binh will also step up investment attraction, especially FDI projects in the fields of automobile supporting industry, and automobile assembly and manufacturing.

Translated by Nguyen Thuy