Ford temporarily suspends production in Vietnam due to COVID-19

Ford Motor Company has announced it will temporarily cease production at its assembly plant in Vietnam in response to the growing impact of the novel coronavirus pandemic.

A Ford Vietnam representative said the suspension of production will begin on March 26 and last for several weeks, depending on disease developments, the government’s restrictions, suppliers’ operations, customer demand, as well as the assembly plant’s inventory.

ford temporarily suspends production in vietnam due to covid-19 hinh 0

Ford Vietnam will temporarily suspend production for several weeks, starting from March 26

Ford Vietnam committed to standing shoulder to shoulder with its agents to ensure the safety of its staff and customers, while maintaining sales and customer care services as normal.

 

Alongside Vietnam, Ford Motor Company has also decided to temporarily suspend its vehicle and engine production at its International Markets Group (IMG) manufacturing sites in other markets, including India, Thailand and South Africa.

“The health and safety of our employees, dealers, customers, partners and communities is our highest priority,” said IMG President Mark Ovenden. “We are continuing to act in real time and taking added safety measures by temporarily halting production at our manufacturing sites in the international markets.”

Located in Hai Duong province, north of Vietnam, the Ford plant assembles major products such as EcoSport, Tourneo, Everest, Explorer, Transit or Ranger, which are very popular with customers. VOV

 
 

Other News

.
Fate of five of 12 loss-making projects uncertain with EPC contractors out of reach
Fate of five of 12 loss-making projects uncertain with EPC contractors out of reach
BUSINESSicon  24/05/2020 

The fate of five of the 12 notorious loss-making projects remain uncertain because the Chinese contractors cannot be taken to court.

Resort real estate anticipates quick rebound
Resort real estate anticipates quick rebound
BUSINESSicon  24/05/2020 

Resort real estate is one of the segments expected to see the fastest pace of recovery in the post-pandemic times.

Commitment level of tariffs in new-generation FTAs comes under scrutiny
Commitment level of tariffs in new-generation FTAs comes under scrutiny
BUSINESSicon  24/05/2020 

Up to 99% of tariff lines with partner countries are poised to be eliminated over the course of the 10-year roadmap set out in new-generation trade pacts 

Vietnamese retail to be at heart of post-pandemic recovery
Vietnamese retail to be at heart of post-pandemic recovery
BUSINESSicon  24/05/2020 

If the Vietnamese economy is able to successfully enjoy a rapid economic recovery following the conclusion of the novel coronavirus (COVID-19) pandemic, the retail industry will be one of the driving factors in this revival process.

Vietnam’s first private IT museum inspires young generation
Vietnam’s first private IT museum inspires young generation
SCI-TECH & ENVIRONMENTicon  24/05/2020 

Vietnam’s first information technology museum was established by Doctor Nguyen Chi Cong, former Head of the Department of Science and Technology under the Vietnam Information Technology Association.

Vietnam in favourable position in new int’l economic order thanks to EVFTA: expert
Vietnam in favourable position in new int’l economic order thanks to EVFTA: expert
BUSINESSicon  24/05/2020 

Associate Professor, Dr. Chu Hoang Long from the Australian National University (ANU) on May 23 expressed his belief that the EU-Vietnam Free Trade Agreement (EVFTA), once effective, will boost two-way trade thanks to eased tax barriers.

Vietnam Railway reports VND600bn in losses
Vietnam Railway reports VND600bn in losses
BUSINESSicon  23/05/2020 

The Vietnam Railway Corporation (VNR) is facing losses of over VND600bn (USD26m) in 2020 because of Covid-19.

Four-month earnings slow but firms hope for better months ahead
Four-month earnings slow but firms hope for better months ahead
BUSINESSicon  23/05/2020 

A number of listed companies have announced lower earnings in April after closing for half of the month.

Demand for ready-built factories and warehouses increasing: CBRE
Demand for ready-built factories and warehouses increasing: CBRE
BUSINESSicon  23/05/2020 

The development of e-commerce together with delays to import and export activities due to disrupted logistics services has accelerated demand for ready-built factories and warehouses during the COVID-19 outbreak in Viet Nam.

Real estate firms gear up for the race after pandemic
Real estate firms gear up for the race after pandemic
BUSINESSicon  23/05/2020 

 Property firms are gearing up to tap opportunities from the post-pandemic recovery of the real estate market, which was predicted to soon get back on its feet.

Vietnam ready for new investment influx
Vietnam ready for new investment influx
BUSINESSicon  23/05/2020 

Foreign investors are speeding up the restructuring and reallocation of their production networks globally, with Vietnam considered a bright candidate for investment given its location within the world’s most dynamically-developing region.

S&P maintains stable outlook for Vietnam’s sovereign credit rating
S&P maintains stable outlook for Vietnam’s sovereign credit rating
BUSINESSicon  23/05/2020 

S&P Global Ratings has announced it has retained Vietnam’s sovereign credit rating at BB, with a stable outlook, according to the Ministry of Finance.

Covid-19 resets operational mode of VN retail market
Covid-19 resets operational mode of VN retail market
BUSINESSicon  23/05/2020 

Revenue from e-commerce has increased rapidly during Covid-19, but many traditional retailers have had to give back business premises to landlords.

Weak growth outlook to spur further monetary easing in Vietnam: Fitch Solutions
Weak growth outlook to spur further monetary easing in Vietnam: Fitch Solutions
BUSINESSicon  22/05/2020 

Given the weak economic outlook in Vietnam, Fitch Solutions expects further easing measures to be applied over the rest of 2020 as the country is still targeting real gross domestic product (GDP) growth above 5%.

Many hotels in HCMC priced too high for sale
Many hotels in HCMC priced too high for sale
BUSINESSicon  22/05/2020 

Many hotel owners in HCMC are putting their properties on sale due to the tourism decline inflicted by the coronavirus pandemic but at very high prices.

Agribusinesses rocked by twin negative impacts
Agribusinesses rocked by twin negative impacts
BUSINESSicon  22/05/2020 

In spite of several highlights, the agricultural picture remains gloomy due to twin blows of climate change and coronavirus.

Online food purchases predicted to rule the roost post-pandemic
Online food purchases predicted to rule the roost post-pandemic
BUSINESSicon  22/05/2020 

The online food and grocery delivery segment has gained remarkable momentum after multiple platforms launched services for those stuck at home during social distancing.

Vietnam set to become shelter for foreign real estate investment post-COVID-19
Vietnam set to become shelter for foreign real estate investment post-COVID-19
BUSINESSicon  22/05/2020 

Big companies like Apple, Nintendo, and Samsung and their supplier have switched out to limit damage.

Telecom industry expects high growth in the next five years
Telecom industry expects high growth in the next five years
BUSINESSicon  22/05/2020 

Five sectors of telecoms, information and technology, clean agriculture, clean technologies, retail, healthcare and pharmaceuticals have potential for high growth in the next three years.

Outstanding loans of twelve inefficient projects amount VND21 trillion
Outstanding loans of twelve inefficient projects amount VND21 trillion
BUSINESSicon  22/05/2020 

The outstanding loans of twelve inefficient projects under the Ministry of Industry and Trade totalled US$905 million as of the end of 2019, most were overdue, according to the Government’s report to the National Assembly.

 
 
 
Leave your comment on an article

OR QUICK LOGIN