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Announcing the master plan revisions of Chu Lai Open Economic Zone and the 15th Anniversary of THACO - Chu Lai
12/24/2018 9:45:04 AM
Early December 16, Quang Nam People's Committee and THACO held the announcement of the master plan revisions of Chu Lai Open Economic Zone and the 15th anniversary of THACO - Chu Lai.

Attending the program were Vietnam Prime Minister Nguyen Xuan Phuc, Former State President Truong Tan Sang, leaders of State and local governmental offices and departments, Ambassador of Japan in Vietnam, leaders of Vietnamese and foreign associations, THACO's partners, economic experts, businesses and media.


In 2003, Quang Nam province decided to establish Chu Lai Open Economic Zone - the first economic zone in Vietnam. As the first enterprise to invest in Chu Lai Open Economic Zone, THACO started the construction of a truck and bus factory with a capacity of 25,000 units/year on 38ha with a total investment capital of VND2,800 billion. This was the first factory in Chu Lai Open Economic Zone and also the largest automobile manufacturing and assembling factory in Vietnam at the time. After 15 years of establishment and development, Chu Lai Open Economic Zone has creatively applied the mechanism to develop its strength and potential, attracting 158 domestic and foreign projects with a total amount of up to USD4.5 billion, contributing to the provincial economic restructuring, stabilizing people's lives and creating a motive force for socio-economic development.


Being the first enterprise to respond to the investment promotion program of Quang Nam province and to implement Decision No. 175/2002/QD-TTg dated 03/12/2002 of the Prime Minister on the development strategy for the auto industry up to 2010 with a vision to 2020, THACO has invested in Chu Lai - Truong Hai Automotive Mechanical Complex on over 400ha, including 30 companies, with a total investment capital of over VND80,000 billion. THACO is manufacturing and trading all kinds of automobiles: trucks, buses, passenger cars and special-purpose vehicles across the value chain from product research & development (R & D) to production, delivery, distribution and retail, meeting the needs of the domestic market and exports. Over the past 15 years, THACO has contributed more than VND70 trillion to Quang Nam province's budget, accounting for 65-70% of the provincial annual budget (2016: VND14,350 billion, 2017: VND12,353 billion, and approximately VND15,600 billion in 2018), creating stable jobs for more than 8,000 workers. At the same time, THACO shows its social responsibility through various activities in the locality, turning Quang Nam into a province with decent development.

Currently, Chu Lai - Truong Hai has added to its list of international car brands: Kia - South Korea, Mazda, Mitsubishi Fuso - Japan, Peugeot - France, being considered a major and modern automotive manufacturing hub in the Asean region. On such grounds, THACO will be able to join the global value chain of renowned long-established global automakers. In the context of the economic integration and strong impacts of the 4th Industrial Revolution, THACO has set the post-2018 strategy to become a multi-industry corporation in Vietnam's key business fields: Agriculture, To Transport infrastructure investment and construction, urban areas and industrial parks, Logistics, Trading and Service, etc. which takes Mechanical Engineering and Automobile as its main business. In addition, THACO will  expand the Automotive Mechanical Complex to the fields of agriculture, construction, equipment manufacture, etc., and to implement the following projects: expanding the Automotive Mechanical Industrial Park by 126 ha, investing in an agriculture-specialized industrial park to manufacture exported goods on an area of ​​450 hectares, investing in a deep-water port capable of receiving vessels of up to 50,000 DWTs at Chu Lai port, investing in Chu Lai urban area and workers' housing, developing social infrastructure, etc.

Along with THACO's development, to meet the requirements of the integration phase, businesses in Chu Lai Open Economic Zone continue to make more investment in upgrades and project expansions. Therefore, in order to make better use of the potentials and advantages of attracting investment into Chu Lai Open Economic Zone and Quang Nam, it is necessary to adjust the master plan of the open economic zone in accordance with the Decision 43/2004/QD-TTg dated March 23, 2004 of the Government that approves to turn the open economic zone from the center of finance, banking, trade, tourism and telecommunications to multi-industry, multi-disciplinary sea economic zones. This decision is of high importance. 

On December 16, 2018, representatives of the Quang Nam People's Committee reported on the implementation of the master plan for the construction of Chu Lai Open Economic Zone. Under the authorization of the Prime Minister, Ms Phan Thi My Linh - Deputy Minister of Construction announced and handed over the PM's decision on approval of master plan revisions of Chu Lai Open Economic Zone to Quang Nam People's Committee. THACO Chairman Tran Ba ​​Duong received the investment agreements of Quang Nam People's Committee on 3 projects: expanding THACO Chu Lai Automotive Mechanical Industrial Park by ​126 hectares, total investment capital of VND5.830 billion, an agricultural-forestry industrial park on an area of ​​450 hectares, total investment capital of VND13.8 trillion, and the deep-water port for vessels of 50,000 tons, total investment capital of VND1,400 billion.


Also at the program, Mr Tran Ba ​​Duong handed over Chu Lai two-layered interchange to Quang Nam province. Previously, PM Nguyen Xuan Phuc, governmental leaders, and THACO Management Board cut the ribbon for the inauguration protocol.

Breaking ground on March 10, 2018, after nearly 8 months of construction, the project has been completed and put into operation, strengthening and ensuring traffic safety in Chu Lai - Truong Hai Automotive Mechanical Industrial Park and Chu Lai Open Economic Zone, as well as completing the transport network as planned, creating motivations for socio-economic development in Quang Nam and meeting the traffic demands in the area generally and THACO staff in particularly.

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Also at the program, THACO has donated VND15 billion to Nui Thanh district to build social works. At the same time, the Vietnamese automaker awarded VND2 billion for Vietnam football team and USD100,000 for Coach Hang-Seo for winning the AFF Cup 2018 last December 15, 2018.

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To acknowledge the contributions to the socio-economic development of Quang Nam and the Vietnamese automobile industry, on this occasion, the Prime Minister, the Ministry of Transport and Quang Nam People's Committee awarded certificates of merits to THACO and some of its employees.

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Speaking at the program, Prime Minister Nguyen Xuan Phuc highly appreciated the development of Chu Lai Open Economic Zone, most notably THACO's contributions in the past 15 years in Chu Lai as a pioneer investor in Chu Lai in particular and Quang Nam in general. 

THACO is the representative of the Vietnamese automobile industry. The Prime Minister also said THACO is the enterprise making the most contributions to Quang Nam, to the socio-economic development of the province, especially creating thousands of jobs for the local workers. Looking at THACO's achievements today, it is necessary to emphasize THACO management methods together with its strategy and objectives that follow and conform to the requirements of the integration phase and the 4th Industrial Revolution. 

The PM also emphasized that in the coming time, THACO must strive to achieve the goal of becoming a multi-industry corporation in key business sectors of the country. In addition, the company should continue their investments, expanding and upgrading the projects as planned to develop mechanical engineering and agricultural engineering, to attract and invite investment in support industries in order to increase the localization rate, reduce production costs, and boost up competitiveness. To do this, THACO must focus on building its mechanism, selecting and training human resources. Accordingly, governance must be in line with the trend of development, combining with domestic and foreign cooperation, taking digital technology as the core."

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