The VinFast Automobile Manufacturing Plant is located in the Dinh Vu–Cat Hai Economic Zone in Hai Phong, Vietnam, and forms the core of VinFast’s automobile manufacturing complex. Developed by VinFast, a member of Vingroup, the project was conceived as a major step toward establishing a fully integrated automotive manufacturing base in Vietnam. Construction commenced in September 2017, and the first phase of the facility was completed and brought into operation in just 21 months.
The initial investment for the first phase was approximately US$1.5 billion. The project was developed as part of VinFast’s broader investment program to establish a large-scale manufacturing facility for passenger vehicles, electric buses, and electric motorbikes. The manufacturing complex covers approximately 335 hectares, with the first-phase automobile factory occupying around 500,000 square meters and designed to produce up to 250,000 vehicles annually.
The project financing was supported through a combination of corporate funding and external financing. In the initial development stage, VinFast signed a memorandum of understanding with Credit Suisse for the arrangement of a loan facility of up to US$800 million, while the project was also backed by Vingroup and its affiliated entities through capital contributions and other financing arrangements.