Ford vows to expand activities in Vietnam

U.S. automobile manufacturer Ford aims to expand activities in Vietnam, with long-term investments.

A Ford delegation, led by Simonetta Verdi, managing director of government affairs for the international markets group at Ford Motor, made the statement at a Monday meeting with authorities of Hai Duong province, home to its plant.

The Ford delegation also made some suggestions related to tax policy, Hai Duong newspaper, the media entity of the province's Party Committee, reported. However, the newspaper did not disclose details of the proposal.

In reply, Tran Duc Thang, chief of Hai Duong's Party Committee, said the province will forward Ford's suggestions to relevant authorities.

Established in 1995, Ford Vietnam entered official operation in Hai Duong in 1997. In January 2020, the carmaker invested $82 million more in the northern province, raising the total investment there to over $200 million.

Its factory in Hai Duong has an annual capacity of 14,000 vehicles.

So far, the province has attracted $270 million in registered direct investment from the United States for 11 projects.

Ford Vietnam, as a major business in Hai Duong province, consistently pays VND5 trillion ($195.7 million) on average to the state budget annually.

Ford ranked fourth among best-selling automobile brands in Vietnam in 2024 with 42,175 units, up 10% year-on-year. Other top brands were Vietnamese electric vehicle maker VinFast, South Korea's Hyundai, and Japan's Toyota.