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SANTO DOMINGO.- A Vietnamese vehicle assembly company will set up shop in the country’s Santiago province (north) before year-end, with an initial investment as high as 70 million dollars.
The announcement was made yesterday by Cabinet level minister Miguel Mejía, accompanied by Dinh Viet Phuong, head of international relations of the Vietnam Automobile Industry Corporation (Vinamotor), which has more than 50 subsidiaries around the world.
That firm recently sold some 1,000 buses to the National Transport Confederation (Conatra), through an intermediary.
The company’s representative said the cost of vehicles will fall more than 10% when they begin to be produced in the country.
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Tata mors in India is producing new basic cars for $2500.
If these types of vehicles can be produced in the DR when combined with ethanol engines, then the DR is headed for energy independence.
The tech exists to produce dual flex fuel cars that run on gas AND also on 100% ethanol. Clearly, there is a BIG market if this firm can produce economy cars there & smaller to large SUV's.
PEASE, RD GOVERNMENT DO NOT OFFEND NEW BUSINESSES WITH YOUR CORRUPTION
is for less expensive cars than the average but to get their foot in the DR-CAFTA. The average Dominican would not be able to buy their car. They should look into the INDIAN co. as
you said for $2500 you could purchase a car.
Again the kick-back in gvt affairs is prominent. So many loans and no means of paying them back is obiously present.
JD you are also correct on your staement on the ethanol.