The 50-hectare plant located in the Becamex Binh Dinh Integrated Township and Industrial Park in the southern part of the province will have an annual capacity of 30,000-50,000 vehicles, according to the proposal submitted to the Ministry of Planning and Investment.

The capacity and investment figures match that of a proposal made by auto maker Mitsubishi Motors in 2018 to the then Deputy Prime Minister Vuong Dinh Hue. It would be the Japanese automaker's second plant in Vietnam after the current one in the southern province of Binh Duong.

The CEO of Mitsubishi Motors Vietnam, Kenichi Horinouchi, had said at a meeting with Binh Dinh authorities in June this year that the province has good infrastructure for transporting goods and large land funds to build automobile plants.

Binh Dinh has also proposed adding a $15 million general hospital with a capacity of 300 beds covering 3.5 hectares to its list of foreign invested projects.