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Kamaz plans to start serial assembly of trucks in Vietnam in 2020

At the first stage it is planned to assemble at least 1,000 cars a year - the volume of investments will reach up to $10 mln

ST. PETERSBURG, June 6. /TASS/. Kamaz plans to launch a serial assembly of trucks at the company's plant in Vietnam in 2020, Head of the company Sergey Kogogin told reporters on the sidelines of the St. Petersburg International Economic Forum.

"Vietnam is a very important market for us. We have a plant there where we can manufacture at this stage. This year we are preparing for launching a serial assembly next year. Earlier this was not very economically viable but since the regulatory framework has changed and duties on assembly kits turned out to be higher than on finished cars, we switched to the supply of complete vehicles," he said.

At the first stage it is planned to assemble at least 1,000 cars a year. The volume of investments will reach up to $10 mln.

Kamaz is the largest truck manufacturer in Russia. In 2017, the concern sold 38,000 cars (33,000 on the Russian market, 5,000 - abroad).

The 2019 St. Petersburg International Economic Forum is being held on June 6-8. The forum’s motto this year is "Creating a Sustainable Development Agenda". The organizer for SPIEF-2019 is the Roscongress Foundation. TASS is a media partner, the official photo hosting agency and the operator of SPIEF’s presentation zones with support from multinational firm EY, and the Foreign Investment Advisory Council in Russia.

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