Hai Duong, Ford Motor ink investment cooperation deal
Hai Duong province will create the most favorable conditions for Ford Motor Company to continue expanding investment and business in Vietnam.
Hai Duong province and Ford Motor Company have signed a memorandum of cooperation on investment and business.
The deal was sealed during Secretary of the provincial Party Committee Tran Duc Thang’s working visit to the company as part of his business trip to the US from September 14 – 22 for investment promotion.
The two sides agreed to request the Vietnamese Government to remove a number of obstacles for Ford Vietnam Co., Ltd., based in Hai Duong province.
“Hai Duong will create the most favorable conditions for Ford Motor to continue expanding investment and business in Vietnam,” said Thang.
Ford has so far become a global brand, a symbol of American strength and culture since the company was founded by Henry Ford in 1903.
Shortly after Vietnam and the US officially normalized relations in 1995, Ford Motor came to Vietnam to explore investment opportunities and was the first US company to invest in Vietnam.
Ford Vietnam Co., Ltd. was established in September 1995 with a total investment of 125 million USD.
It opened an assembly plant in Hai Duong in November 1997 with a capacity of 14,000 vehicles/ year.
To date, Ford Vietnam has poured a total investment of up to 185 million USD into the plant, bringing the capacity to 40,000 vehicles/ year.
Ford Vietnam is one of businesses making important contributions to the socio-economic development of Hai Duong province.
The company has created jobs for thousands of local workers, made large payments to the provincial budget, including over 13,000 billion VND from 2015 to 2022, and promoted the development of Vietnam's automobile industry.
Ford also accompanies the Vietnamese State and Hai Duong province in implementing social policies according to the province's guidelines...
TA DUAN