Phu Tho Adjusts Investment Policy for Toyota Vietnam: Raising Total Investment Capital to 373 Million USD

On August 28, Mr. Tran Duy Dong—Alternate Member of the Party Central Committee, Deputy Secretary of the Provincial Party Committee, and Chairman of the Provincial People’s Committee—chaired the ceremony presenting the Decision adjusting the investment policy and the Amended Investment Registration Certificate (12th amendment) to Toyota Motor Vietnam Co., Ltd. The event marks an important milestone in the production modernization strategy, catering to the green transition trend of Vietnam’s automotive industry.

Chairman of the Provincial People’s Committee Tran Duy Dong presents the Decision adjusting the investment policy to the leadership of Toyota Motor Vietnam.

Attending the ceremony were Ms. Phung Thi Kim Nga, Member of the Provincial Party Committee and Vice Chairwoman of the Provincial People’s Committee; leaders of relevant departments and sectors; and representatives from the Phuc Yen Ward People’s Committee.

Representing Toyota Motor Vietnam were Mr. Hao Quoc Tien, CEO of Toyota Motor Asia and Chairman of Toyota Motor Vietnam; Mr. Osamu Hirata, President of Toyota Motor Vietnam; and Ms. Nguyen Thi Thu Huyen, Deputy General Director of the company.

Director of the Department of Finance Vuong Thi Bay presents the Amended Investment Registration Certificate to the leadership of Toyota Motor Vietnam.

The project “Assembly and manufacture of various automobiles and auto parts, provision of warranty and repair services, and import of completely built-up (CBU) automobiles in the Vietnamese market” by Toyota Vietnam has been adjusted to add the objective of manufacturing and assembling electrified vehicles (Hybrid), raising the project’s total investment capital to 373 million USD (of which the registered additional capital in this phase is 283.7 million USD).

The project is implemented across an area of over 28.6 hectares, with a production capacity of approximately 52,000 vehicles per year, alongside the manufacturing of automobile bodies and other motor vehicles.

In the subsequent phase, Toyota Vietnam will deploy painting and stamping workshop facilities in May 2027, scheduled for operation in 2029 with modern automated technology, laying the groundwork for the production of new completely knocked down (CKD) vehicle models in Vietnam.

Speaking at the ceremony, Chairman of the Provincial People’s Committee Tran Duy Dong congratulated Toyota Vietnam and affirmed that expanding investment after 30 years of operation demonstrates the enterprise’s strategic confidence in Phu Tho’s investment environment. The project aligns with the development orientation of the automotive industry—a pillar industry of the province—and particularly accords with green technology and energy-saving trends.

The Provincial Chairman emphasized: The province closely directed specialized agencies to accompany the enterprise, applying a “Green Lane” mechanism to cut administrative processing time by 50% and complete the adjusted licensing within just one week. Maintaining the consistent view that “The enterprise’s success is the province’s success,” Phu Tho commits to continuously improving transport connectivity infrastructure, developing eco-industrial parks, and supporting the training of high-quality human resources.

The Provincial Chairman requested Toyota Vietnam to fulfill its commitments, bring the project into operation early, expand the domestic supply chain, and prioritize training Vietnamese personnel to hold key management positions.

Mr. Hao Quoc Tien, CEO of Toyota Motor Asia and Chairman of Toyota Motor Vietnam, presents a commemorative gift to the People’s Committee of Phu Tho Province.

At the ceremony, Chairman Tran Duy Dong handed over the Decision adjusting the investment policy, and Department of Finance Director Vuong Thi Bay presented the Amended Investment Registration Certificate to the leadership of Toyota Motor Vietnam.

Chairman of the Provincial People’s Committee Tran Duy Dong presents a commemorative gift to Mr. Hao Quoc Tien, CEO of Toyota Motor Asia and Chairman of Toyota Motor Vietnam.

Expressing gratitude for the effective support from Phu Tho provincial leaders, Mr. Osamu Hirata, President of Toyota Motor Vietnam, affirmed that the expedited procedural processing serves as clear proof of the local government’s commitment to standing side-by-side with enterprises. Toyota Vietnam commits to maintaining its supply network, increasing localization rates, creating jobs, and actively contributing to the state budget, thereby helping turn Phu Tho into an important automotive industrial hub of the Northern region.

Mr. Osamu Hirata, President of Toyota Motor Vietnam, presents a gift to the People’s Committee of Phu Tho Province.

Vice Chairwoman of the Provincial People’s Committee Phung Thi Kim Nga presents a commemorative gift to Mr. Osamu Hirata, President of Toyota Motor Vietnam.

Earlier in March 2026, Toyota held a groundbreaking ceremony for a new office complex project at its headquarters. This was a crucial initial step in its long-term investment plan in Vietnam. To date, the company has implemented various facility modernization activities—such as investing in a training center, office complex, and new production lines—aiming to put the project into operation at an early date.

Delegates attending the ceremony.

Since receiving its initial investment license on September 5, 1995, Toyota Vietnam has continuously expanded its manufacturing and business operations, contributing significantly to the development of the domestic automotive industry. Over more than three decades, Toyota has achieved numerous milestones, actively implemented meaningful community programs, made stable contributions to the State budget, and fostered the sustainable development of the domestic supply chain.

Receiving the Decision adjusting the investment policy and the 12th Amended Investment Registration Certificate further affirms Toyota’s long-term commitment in Vietnam.

Through these investment programs, Toyota Vietnam aims to enhance domestic manufacturing capacity, foster human resource development, and make practical contributions to the sustainable development of the Vietnamese automotive industry.

Dinh Vu