HAIPHONG—At a time when auto companies in the developed world are facing a squeeze on their profits from cash-rich tech firms, Vietnam is betting car-making can be a ticket to a more prosperous economy, just as it was for the likes of Japan and South Korea.
VinFast, a unit of Vietnam’s largest conglomerate Vingroup JSC, is set to become the country’s first fully-fledged domestic car manufacturer when its first production models built under its own badge hit the streets next August.
