Business news

MINSK, 13 September (BelTA) – Plans have been made to commission the joint venture MAZ Asia in Vietnam at the end of the year, representatives of the Belarusian automobile engineering company MAZ told BelTA.

According to the source, there are plans to commission a joint venture for assembling automobiles in Vietnam at the end of the year. Due to the high customs duties on the Vietnamese market and the ASEAN market it is more profitable to make automobiles in their territory. Certain localization has to be secured. The assembly facility is being built. The charter capital has been formed, said MAZ representatives.

Thanks to the joint venture MAZ has been given a quota for importing vehicles to Vietnam without paying customs duties. The first 100 vehicles and 50 assembly kits will be shipped soon. This year Vietnam will get a total of 200 assembly kits and 200 assembled vehicles, which will be distributed among 25 dealers. The joint venture is supposed to assemble about 1,000 vehicles per annum to the tune of over $40 million later on. MAZ intends to use the joint venture to penetrate the ASEAN market.

Apart from that, MAZ is busy setting up the joint venture MAZ Zenit, which will assemble passenger vehicles in Vietnam.