Business

Ford Motor Company pledges long-term business in Vietnam

The Ford Motor Company has committed to long-term investment and operations in Vietnam thanks to the country’s favourable investment climate, said Ford Vietnam’s Managing Director Jesus Metelo Arias.
Ford Motor Company pledges long-term business in Vietnam ảnh 1US Ambassador to Vietnam David Shear attends the debut of Ford EcoSport model. (Photo: VNA)

The Ford Motor Company has committed to long-term investment and operations in Vietnam thanks to the country’s favourable investment climate, Ford Vietnam’s Managing Director Jesus Metelo Arias told a Vietnam News Agency reporter.

Arias said Ford is one of the first American enterprises that invested in Vietnam after the two countries normalised their relations. Vietnam has facilitated good conditions for investors, including the simplification and transparency of tax and customs procedures.

Furthermore, strong economic growth, increasing consumer demands and infrastructure improvements have also served as catalysts to boost the company’s car sales.

Ford-brand cars have become more popular among Vietnamese customers, the Managing Director said, highlighting that the company achieved stellar sales with over 8,900 cars sold in the Vietnamese market in the first six months of the year, up over 70 percent from the same period in 2014.

Ford Ranger has affirmed its position as “king of the pickup trucks”, becoming the best-selling product of the company with nearly 3,400 vehicle sold. Meanwhile, the Ford EcoSport small sport utility vehicle (SUV) retained its stable turnover with 1,700 cars in the first two quarters. In addition, 2,430 Ford Transit Commercial vans were sold during the period, growing 42 percent against the same period last year.

According to Arias, Ford is among the top 3 best-selling car brands in Vietnam this year. He underscored that the company continually seeks ways to promote its products in the Asia-Pacific market.

Ford’s business strategy is embodied in the “One Ford” plan, focusing on quality, safety, intelligence and energy conservation. In the last two years, the company invested an additional 10 million USD in the Vietnamese market to develop production capacity and increase the adaptability of the production line. It also promoted local labour recruitment as part of efforts to increase production capacity.

Arias said that there are considerable opportunities for foreign automobile businesses to invest in Vietnam as its growing economy will boost car demands among residents.

He also pointed out challenges in the Vietnamese market, such as inadequate infrastructure development and the Government’s inconsistent policy on the automobile sector, saying those create barriers for enterprises to map out long-term business plans.-VNA

VNA
#Ford #car sales #long-term investment #investment climate
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