Vietnam deputy PM meets Toyota Asia chief, urges expanded investment

Deputy PM Phoc praised Toyota’s 30 years of operation in Vietnam, noting its contributions not only to manufacturing and business but also to social activities.

He reaffirmed Japan’s role as one of Vietnam’s top partners in aid, investment, trade, labor, and cultural exchange, and encouraged Japanese firms, including Toyota, to further expand operations.

Vietnam is targeting economic growth of 8.3-8.5 percent this year with its export-import turnover exceeding US$900 billion, he said, stressing the country’s push to shift from fossil fuels to renewable energy.

He invited Toyota to expand green manufacturing and introduce more clean-energy vehicles in Vietnam.

Hao highlighted the Vietnamese government’s policy support that has helped Toyota Vietnam achieve significant business outcomes.

Hao reported that Toyota Vietnam has manufactured over 700,000 vehicles, sold more than one million units, and exported over $1 billion worth of products, while partnering with 61 local suppliers and creating over 76,000 jobs across its ecosystem.

Toyota plans to expand investment by boosting factory efficiency, increasing local content, and supplying a wider range of eco-friendly vehicles, including hybrids.

The company also proposed measures to strengthen long-term, sustainable business conditions in Vietnam.

Deputy PM Phoc reiterated that the Vietnamese government supports Toyota’s continued expansion and welcomes its role in advancing Vietnam’s automotive and green growth goals.