THACO lays out plans for $1 billion industrial park

THACO plans to kick off the construction of a $1 billion industrial park in September

The plans were announced by Tran Ba ​​Duong, chairman of the Board of Directors of THACO, at a meeting between Prime Minister Pham Minh Chinh and representatives of 26 leading state-owned and private enterprises in Hanoi on February 10.

The industrial park will cover an area of ​​700 hectares and is expected to cost VND26 trillion ($1.4 billion). Binh Duong People's Committee and THACO signed an MoU to implement the project in 2022.

As one of the largest manufacturers in Vietnam, THACO has a complete value chain ranging from research and development (R&D) and auto parts manufacturing to auto assembly, logistics, distribution, and retail.

THACO's arm in supporting the mechanical sector is THACO Industries. It operates 19 manufacturing facilities and R&D and testing centres in the Chu Lai Economic Zone in the central province of Quang Nam.

The park will open its doors to all partners, especially small- and medium-sized enterprises, based on mutual support for the common development of Binh Duong's business communities.

At the meeting, PM Chinh also called on private enterprises to serve as pioneers in innovation, digital transformation, development and application of science and technology, and contribute more to the implementation of the three strategic breakthroughs (institutions, infrastructure, and workers).

"Private enterprises should encourage the development of the digital, green, and circular economies, and ensure social security for workers," PM Chinh said.

THACO Group to invest $4.2 billion in circular economy THACO Group has reported significant progress in its Thaco Circular Economy Complex, a project poised to transform Lam Dong province.

THACO raises the bar for steel industry THACO Industries has significantly accelerated its investment in steel structures and Mechanical, Electrical, and Plumbing (MEP) systems, aiming to become the top general contractor in Vietnam.

Corporations propose swathe of development initiatives Several large corporations such as Vingroup, Thaco Group, KN Holdings Group, and others proposed various initiatives to boost the country's economy and society at a conference held on September 21, chaired by Prime Minister Pham Minh Chinh.