Toyota wants to expand investment in green cars in Vietnam

Photo caption — Deputy Prime Minister Ho Duc Phoc received Mr. Tien Quoc Hao, Chairman of Toyota Asia Company. Photo: An Dang/VNA

Highly appreciating Toyota's performance in Vietnam over the past 30 years, Deputy Prime Minister Ho Duc Phoc expressed his respect for the social activities of this enterprise in Vietnam.

The Deputy Prime Minister said that Japan is Vietnam's number one partner in ODA and labor; third in investment and tourism ; fourth in trade... Besides, local cooperation, cultural exchange, people-to-people exchange and human resource cooperation are increasingly close and effective.

Appreciating the role of Japanese enterprises in investment, production and business cooperation with Vietnam, including Toyota Company, Deputy Prime Minister Ho Duc Phoc hopes that Japanese enterprises will continue to promote direct and indirect investment in Vietnam and achieve many successes like Toyota has had in Vietnam.

Sharing information on the country's economic development, the Deputy Prime Minister said that this year Vietnam strives for growth of 8.3 - 8.5%; import and export of over 900 billion USD; CPI of about 3.6%... In the next term, Vietnam strives for double-digit growth. In the transportation sector, Vietnam is on the path to gradually shifting from using fossil fuel vehicles to renewable energy. Projects using clean energy and high technology will be encouraged for investment... On that basis, the Deputy Prime Minister hopes that Toyota will respond and continue to expand its investment in production and business in Vietnam in the coming time.

Mr. Tien Quoc Hao, President of Toyota Asia, sincerely thanked Deputy Prime Minister Ho Duc Phoc for taking the time to receive him; and thanked the Vietnamese Government for always accompanying and supporting Toyota Vietnam Company in recent years, especially in building financial and investment mechanisms and policies, thereby helping the business's operations in Vietnam achieve important results.

Specifically, after 30 years of operation in Vietnam, Toyota has produced more than 700,000 vehicles domestically; sold more than 1 million vehicles domestically; exported more than 1 billion USD; cooperated with 61 domestic component suppliers; gradually increased the localization rate; directly created jobs for more than 1,500 workers; if counting the entire ecosystem of Toyota Vietnam, the total number of workers is more than 76,000 people...

Sharing about Toyota's plans to develop the automobile industry in Vietnam, aiming for carbon neutrality, Mr. Tien Quoc Hao expressed: Toyota wishes to "popularize" automobiles in Vietnam; providing diverse and multi-dimensional environmentally friendly approaches.

Accordingly, Toyota plans to continue expanding its investment in Vietnam, aiming at the following goals: Improving the operational efficiency of Toyota factories in Vietnam; "greening" and improving product quality; providing small and medium-sized green vehicles (gasoline-electric hybrid vehicles); expanding its product range; expanding production scale associated with increasing the localization rate of Toyota products in Vietnam.

On that basis, the President of Toyota Asia proposed to the Government a number of contents for businesses to continue to develop production and business effectively, sustainably and long-term in Vietnam.

On behalf of the Government leaders, once again, Deputy Prime Minister Ho Duc Phoc warmly commended Toyota for its successful operations in Vietnam in recent times.

Discussing specifically the recommendations of Toyota leaders, as well as policies for developing Vietnam's automobile industry, Deputy Prime Minister Ho Duc Phoc affirmed: The Vietnamese Government always attaches importance to and creates favorable conditions for Japanese enterprises, including Toyota, to operate stably and make long-term investments in Vietnam.

Deputy Prime Minister Ho Duc Phoc emphasized: The Government consistently supports Toyota to continue expanding its investment and business scale in Vietnam in the coming time. Wishing Toyota to continue to have strong development steps in a new era full of prospects.

In Vietnam, Toyota Vietnam Automobile Company was established in September 2025, a joint venture between Toyota Motor Corporation (TMC) of Japan; Vietnam Engine and Agricultural Machinery Corporation (VEAM) and KUO Group of Singapore. Toyota Vietnam's factory is considered one of the Toyota factories with the best vehicle production quality in the Asia-Pacific region.

Source: https://baotintuc.vn/thoi-su/toyota-mong-muon-mo-rong-dau-tu-xe-xanh-tai-viet-nam-20250925151847834.htm