VIMID officially approves the establishment of VMASS – A step forward in realizing the “Vietnamese Truck Dream”

Vietnam Machine Investment Development Joint Stock Company (VIMID) has officially approved the establishment of its subsidiary, VMASS, and decided to place a deposit for the land to construct a truck assembly plant in Hai Phong – marking a historic milestone in its development strategy and the realization of the Vietnamese truck brand dream. With a modern factory, an annual production capacity of 10,000 products, and a sustainable development strategy, VMASS aims to produce high-quality, environmentally friendly trucks, while contributing to higher localization rate and promoting the local supporting industries.

A historic step forward with the birth of VMASS

Recently, Vietnam Machine Investment Development Joint Stock Company (VIMID – Stock Code: VVS) officially approved two significant decisions, marking a historic leap in the company’s development strategy. Specifically, on September 30, 2025, VIMID’s Board of Directors approved the establishment of VMASS Automotive One-Member Limited Liability Company, a wholly owned subsidiary of VIMID. VMASS will primarily operate in the automotive and other motor vehicle manufacturing sectors, along with several related industries. This decision reflects VIMID’s strong commitment to optimizing the supply chain, increasing domestic content, and gradually realizing the vision of building a Vietnamese truck brand to meet both domestic and international transportation demands.

On the same day, VIMID’s Board of Directors also approved the investment plan for the land owned by Sao Do Investment Group Joint Stock Company – the site designated for the construction of the VMASS truck manufacturing and assembly plant. This milestone serves as a firm commitment, ensuring that the VMASS assembly plant will soon commence construction and begin operations.

Accordingly, the VMASS truck manufacturing and assembly plant will be built in Nam Dinh Vu Industrial Park (Hai Phong City), with an annual capacity of 10,000 products and a total planned investment of up to USD 50 million. The factory will be constructed according to modern international standards, designed for flexibility and cost efficiency – providing a solid foundation for VIMID to receive technology transfer and develop high-quality products that meet global standards.

The VMASS plant is expected to become a key link in the truck production and assembly value chain in Vietnam, helping reduce product costs, enhance the ability to meet domestic customer demand, and expand exports to regional markets. With this strategic move, VIMID is transitioning from a distributor to a manufacturer and assembler of trucks, pioneering the application of modern technology, optimizing processes, and developing environmentally friendly products.

This marks a significant milestone in VIMID’s development journey, representing the first strategic step toward building a Vietnamese truck brand, with the ultimate goal of establishing a modern truck industry, promoting localization, and driving technological innovation.

Development strategy aligned with the aspiration for national self-reliance

In addition to high-quality products with outstanding performance tailored to Vietnam’s operating conditions, VMASS also aims to develop electric truck models, contributing to emission reduction, environmental protection, and promoting a green transition in the transportation sector. The establishment of VMASS affirms VIMID’s pioneering role in supporting the Government’s strategy for clean energy development, smart transportation, and emission reduction.

VMASS also carries the ambition to lead the domestic supporting industry and stimulate the manufacturing capabilities of Vietnam’s industrial sector. With this strategic move, VIMID is committed to collaborating with domestic automotive enterprises and, and accompany the nation in pursuing the vision of self-reliance and sustainable development, aiming toward a promising future for Vietnam’s industrial landscape.

The “Viet Truck Dream” is not just VIMID’s dream—it is the nation’s collective aspiration as Vietnam strides toward its 2045 vision: becoming a developed country with a modern, strong, and self-reliant industrial sector.