On November 10, 2026, during his working visit to Japan, Minister of Industry and Trade Le Manh Hung met with Daiki Mihara, Executive Officer in charge of Regional Business and Customer First, Automobile Operations at Honda Motor Co., Ltd.

At the meeting, Minister Le Manh Hung commended Honda for its contribution to Viet Nam's socioeconomic development over the past 30 years, particularly in motorcycle and automobile manufacturing and business operations.

The Minister noted that Honda's presence and growth in Viet Nam have not only created jobs and promoted industrial production but also played an active role in developing supply chains and supporting industries. In particular, efforts to increase localization rates, expand supplier networks, and strengthen partnerships with domestic businesses have helped improve manufacturing capacity, technological capabilities, and the competitiveness of Viet Nam's industrial sector.

Discussing the development direction of the automotive industry, the Minister emphasized that Viet Nam is accelerating industrial restructuring toward modernization, greater self-reliance, and sustainability. Key priorities include developing supporting industries, increasing localization rates, and strengthening the participation of Vietnamese businesses in regional and global value chains.

Minister Le Manh Hung welcomed Honda's updates and presentations on its business operations and plans, including technological advances in Honda Hybrid technology, its product development strategy for 2027 - 2030, and its roadmap for manufacturing next-generation hybrid vehicles in Viet Nam in line with market demand and the country's automotive industry development goals. He called on Honda to consistently consider opportunities to strengthen linkages with supporting industries and Vietnamese businesses throughout its global supply chain.

To support automotive businesses, Viet Nam has introduced incentive policies to encourage the development and use of environmentally friendly vehicles. Under Law No. 66/2025/QH15 on Special Consumption Tax, which took effect on January 1, 2026, hybrid vehicles that meet the prescribed requirements are subject to a special consumption tax rate equivalent to 70% of the rate applied to comparable gasoline-powered vehicles. This policy helps create favorable conditions for the development of the hybrid vehicle market, encourages businesses to invest in fuel-efficient and emissions-reducing technologies, and opens up opportunities for manufacturers such as Honda to explore expanding hybrid vehicle production and assembly operations in Viet Nam.

Concluding the meeting, Minister Le Manh Hung reaffirmed that the Ministry of Industry and Trade values Honda's presence and contribution in Viet Nam. He also expressed the hope that the company would continue expanding its investment, manufacturing, research, and technology development activities, helping advance Viet Nam's automotive industry toward modernization and sustainability, increase value addition, and strengthen its integration into global supply chains.