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Vietnam's Vingroup says to produce ventilators in COVID-19 fight

By Khanh Vu

HANOI, April 3 (Reuters) - Vietnam's biggest listed firm Vingroup VIC.HM said on Friday it will produce ventilators for the Southeast Asian country's fight against the new coronavirus.

The company has entered into a licence agreement with Medtronic MDT.N for its P560 ventilator production, the company said in an emailed statement, adding that it would also produce low-cost open-source ventilators designed by Massachusetts Institute of Technology.

Vingroup said it would be able to produce up to 55,000 units a month at its existing automobile and smartphone factories in Vietnam, including 10,000 P560 ventilators.

Production would begin within weeks, it said, adding that the firm could also produce ventilators for foreign markets.

Vietnam has reported 233 coronavirus cases as of Friday, with no reported death, the Ministry of Health said.

(Reporting by Khanh Vu; Editing by Alex Richardson)

((khanh.vu@thomsonreuters.com; +84 24 38259623;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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