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MAZ expands into Vietnam

HANOI, 30 November (BelTA) – Minsk Automobile Plant (MAZ trademark) opened its branch in Hanoi on 30 November. Attending the inauguration ceremony was Belarus Premier Mikhail Myasnikovich, BelTA has learnt.

In his remarks at the ceremony, the Belarusian Premier underlined great prospects for MAZ cooperation with Vietnamese partners including Veam. “I think that the projects we have agreed on will be implemented. We will produce motor vehicles and engines,” he said. The manufactured goods will be exported to the Vietnamese market and the countries of Southeast Asia (ASEAN). “This is a huge market generating almost $1.5 trillion a year,” Mikhail Myasnikovich said.

The Belarusian head of government also stressed that the President of Vietnam supported Belarus’ proposal to provide state support to these projects at the first stage.

Mikhail Myasnikovich emphasized the need to build up the production of Belarusian equipment in Vietnam including through partnership with large international companies. The Premier suggested considering an opportunity of setting up a transnational corporation to produce motor vehicles with the participation of Belarus, Vietnam and Germany.

According to Industry Minister of Belarus Dmitry Katerinich, Vietnam is ready to expand cooperation with Belarus. “Apart from MAZ’s branching out, we have agreed to set up a joint company with the participation of MAZ and a Vietnamese partner in Q1 2012,” he said. The official did not comment on what Vietnamese company will partner in the project. The minister stressed that the new company would make the Belarusian-Vietnamese joint products more competitive.