Ford Vietnam adds 82 million USD in factory expansion project
Ford Vietnam has announced an additional investment of 82 million USD (over 1.9 trillion VND) to expand its automobile factory in the northern province of Hai Duong.
Deputy Minister of Industry and Trade Do Thang Hai speaks at the announcement ceremony. (Photo: VNA)
Hanoi (VNA) – Ford Vietnam hasannounced an additional investment of 82 million USD (over 1.9 trillion VND) toexpand its automobile factory in the northern province of Hai Duong.
The expansion is expected to increase the plant’sproduction capacity from 14,000 cars at present to 40,000 per year.
Speaking at the announcement ceremony in HaiDuong on January 14, Ford Vietnam General Director Pham Van Dung said thedecision was made based on the growing demand for Ford cars and optimisticforecasts for the development of Vietnam’s auto market.
Meanwhile, Vice President at Ford InternationalMarkets Group (IMG) Andrea Cavallaro said the additional investment will bringFord’s total investment in Vietnam to more than 200 million USD.
It also affirmed Ford’s long-term investmentcommitment in Vietnam’s auto market, he added.
Deputy Minister of Industry and Trade Do ThangHai said the expansion has significant meaning in implementing the developmentstrategy of the Vietnam’s auto industry through 2025, with a vision to 2035.
He asked the People’s Committee of Hai Duongprovince to create the best conditions for Ford to develop in line with thestrategy.
The expansion project will be divided into twophases and carried out from 2020. It is scheduled for completion in mid-2022.
The plant will be expanded by 60,000 squaremetres, increasing the total construction area to 226,000 square metres.
The project is expected to create 500 more jobsat the plant and thousands of other jobs at Ford’s agent network nationwide./.
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Deputy Minister of Industry and Trade Do Thang Hai speaks at the announcement ceremony. (Photo: VNA) 
