By the end of 2005, Volkswagen’s joint ventures in China had churned out 3mil cars.

VietNamNet Bridge – Made-in-Vietnam Volkswagen cars will appear in Vietnam in the near future as the German automobile manufacturer plans to set up a workshop at Vinashin-Shinec Industrial Zone in the sea city of Hai Phong.

Investors have registered to run seven big investment projects at the Vinashin-Shinec Industrial Zone (IZ), which is under construction, including the project on making Volkswagen cars capitalised at $120mil.

The agreement on setting up a joint venture between German Volkswagen and Shinec (Vinashin Trading and Manufacturing Company), the developer of the Vinashin-Shinec IZ, is expected to be signed in April 2007. The automobile manufacturing workshop will cover an area of 100 ha.

In addition, there will be investment projects between the Vietnam Shipbuilding Industry Corporation (Vinashin) and partners from the Netherlands, Sweden, Japan and the Republic of Korea.

Vinashin-Shinec IZ was established in September 2006, covering an area of more than 300 ha in Thuy Nguyen district in Hai Phong city. The total investment capital to develop infrastructure is VND750bil.

The IZ developer will build wharfs on an area of 15 ha, capable of receiving cargo ships of up to 6,500 tonnes. Meanwhile, 3 ha will be used for developing an office and trade centre, and 5 ha for high-grade accommodations. In addition, Shinec will also build a waste water treatment centre, clean water plant with the capacity of 10,000 cu m a day.