The Vietnam Automobile Industry Corporation (Vinamotor) will build a car plant in Dominica at the end of this year, creating jobs for over 1,000 locals, according to a source from Santo Domingo.
With an initial investment of US$70 million, the plant is designed to manufacture buses, trucks, tractors and motorbikes using the latest technology from the Republic of Korea.
Vinamotor plans to export these products to eastern US states, and if so, will benefit from tax preferences under a free trade agreement signed by the US and Dominica.
Vinamotor has so far exported 50 buses to Dominica worth US$2.3 million.
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