Vietnam’s Industry and Trade Minister Discusses Mining and Automotive Investment with Japanese Companies
Vietnam’s Industry and Trade Minister Lê Mạnh Hùng met representatives of Sojitz, Shin-Etsu, Iwatani and Honda in Japan on November 10 to discuss cooperation in mineral development, processing and vehicle manufacturing. The Japanese companies expressed interest in exploring investment opportunities in Vietnam, while Honda outlined its 2027–2030 product strategy and plans to produce a new generation of hybrid vehicles in the country.
On November 10, Vietnam’s Minister of Industry and Trade Lê Mạnh Hùng met separately in Japan with representatives of Sojitz, Shin-Etsu and Iwatani to discuss opportunities to invest in and develop Vietnam’s mineral industry. That same day, he also met representatives of Honda to discuss cooperation in motorcycle and automobile manufacturing and business. The Ministry of Industry and Trade released information about the meetings on November 11.
Vietnam’s Minister of Industry and Trade Lê Mạnh Hùng meets representatives of Japanese companies.（VietVance）
During the mineral industry meetings, Lê Mạnh Hùng outlined Vietnam’s policies and conditions for developing its critical minerals industry. He said Vietnam places importance on building a value chain spanning mineral extraction and advanced processing through to the production of high value industrial goods, and wants investment projects to promote technology transfer and the development of local supply chains.
Representatives of the three Japanese companies presented their operations and development plans and said they wanted to continue exploring opportunities to expand investment in Vietnam’s mineral industry. Lê Mạnh Hùng suggested that the companies engage with Vietnamese authorities, research institutions and businesses to examine specific cooperation projects that comply with both countries’ laws. No investment amounts or confirmed projects were announced at the meetings.
At the meeting with Honda, the company presented its hybrid technology, its product strategy for 2027–2030 and its roadmap for producing a new generation of hybrid cars in Vietnam. Lê Mạnh Hùng expressed hope that Honda would expand cooperation with Vietnamese businesses and bring more local suppliers into its supply chain.
Vietnam’s Minister of Industry and Trade Lê Mạnh Hùng meets representatives of Honda.（VietVance）
Under Vietnam’s Special Consumption Tax Law, which took effect on January 1, 2026, eligible hybrid cars are subject to a special consumption tax rate equal to 70% of the rate for comparable gasoline cars. The policy creates conditions for the development of the hybrid car market and for manufacturers such as Honda to consider expanding production and assembly of these vehicles in Vietnam.
Source: VietVance
