VINFAST US TO JOIN THE US - ASEAN BUSINESS COUNCIL

WASHINGTON, Dec. 14, 2022 /PRNewswire/ -- Today, VinFast US, member of Vietnam's largest private corporation Vingroup, announced in conjunction with the US-ASEAN Business Council (USABC), the premier advocacy group and the only US-based organization recognized in the Association of Southeast Asian Nations (ASEAN) Charter, that VinFast US has become the newest member of the US-ASEAN Business Council, joining other leading companies as part of the organization's Chairman's Council.

Being a member of the USABC, VinFast US will benefit from the USABC's knowledge of the U.S. and ASEAN regulatory and policy framework, as well as policy advocacy to drive forward its business. VinFast US will contribute to fruitful conversations to promote the adoption of electric vehicles in both regions and support the Council's ongoing efforts to elevate US-ASEAN economic relationship.

"The US-ASEAN Business Council has been an important voice in the development of trade and investment in Southeast Asia since its founding in 1984. The addition of VinFast US to the Council's membership of leading companies is a testament to how this long-term commitment has been critical to the development of industry in Southeast Asia," said Le Thi Thu Thuy, Vice Chairwoman of Vingroup – Chairwoman of VinFast. "We are honored to become a member of this illustrious organization, and are excited to see more companies join us in the future."

"The US-ASEAN Business Council welcomes VinFast US as our newest member. Since its founding, the US-ABC has been focused on how ASEAN matters to the United States and how the United States matters to ASEAN," said Ted Osius, President & CEO of the USABC and a former US ambassador to Vietnam. "Because it has significant investments in the United States, and partners with many of our other member companies, VinFast US's participation in the Council will benefit our entire organization."

Vietnam is America's 7^th largest trade partner in the world and also America's largest trade partner in the ASEAN region in the 1^st half of 2022. Exemplifying the growth potential of bilateral trade between ASEAN nations and the United States is VinFast's North Carolina production facility, which was announced this past March. Slated to open in 2024, this electric vehicle manufacturing complex represents up to a 2-billion-dollar investment in the facility's initial production phase and will create thousands of American jobs as vehicle production begins.

Established in 1993, Vingroup is one of the leading private conglomerates in the region focusing on three main areas: Technology and Industry, Services and Social Enterprise. Find out more at: https://www.vingroup.net/en.

VinFast - a member of Vingroup – envisioned to drive the movement of global smart electric vehicle revolution. Established in 2017, VinFast owns a state-of-the-art automotive manufacturing complex with globally leading scalability that boasts up to 90% automation in Hai Phong, Vietnam.

Strongly committed to the mission for a sustainable future for everyone, VinFast constantly innovates to bring high-quality products, advanced smart services, seamless customer experiences, and pricing strategy to inspire global customers to jointly create a future of smart mobility and a sustainable planet. Learn more at: https://vinfastauto.us/

Since 1984, the US-ASEAN Business Council has been the premier advocacy organization for U.S. corporations operating within the dynamic Association of Southeast Asian Nations (ASEAN). Worldwide, the Council's membership of nearly 180 companies generates almost US$7 trillion in revenue and employs more than 14.5 million people. Today our members include the largest U.S. companies conducting business in ASEAN and range from newcomers to the region to companies that have been working in Southeast Asia for more than 100 years. The Council has nine offices around the globe, in Washington, DC; New York, NY; Bangkok, Thailand; Hanoi, Vietnam; Jakarta, Indonesia; Kuala Lumpur, Malaysia; Manila, Philippines; Singapore; and Yangon, Myanmar.

SOURCE VinFast Automotive