Building a solid foundation for the automotive industry and continuing to promote the implementation of the gas-fired power plant project will be the "wings" that provide a strong impetus for Quang Nam's industry.
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| The plan identifies that Quang Nam province will prioritize the development of the automotive manufacturing and assembly industry, mechanical products, etc. |
Automotive pillar
Speaking at the Conference on the Implementation of the 2024 Production Plan, Mr. Tran Ba Duong, Chairman of the Board of Directors of Truong Hai Group Joint Stock Company ( Thaco ), affirmed that in 2024, Truong Hai - Chu Lai will begin a new investment and development cycle, forming a new generation multi-industry industrial ecosystem of Thaco in Chu Lai (Quang Nam) based on industrial management, green, smart, sustainable and modern development.
According to its plan, Thaco will invest in several large projects in Chu Lai in 2024, with a total investment of nearly 3,900 billion VND to be disbursed during the year. Total tax contributions to the Quang Nam provincial budget will be approximately 20,000 billion VND, a 16% increase compared to 2023.
Thaco continues to make significant strides in Chu Lai. When the decision to establish the Chu Lai Open Economic Zone was made in 2003, few could have imagined how this coastal economic zone would develop. But today, 21 years later, from a land of white sand, Quang Nam has realized its aspiration to make the Chu Lai Open Economic Zone a driving force for growth. And there, a national brand has been formed, named Thaco Truong Hai.
From a single factory amidst vast stretches of white sand, numerous more factories were built and put into operation with modern technology, forming the largest automotive manufacturing and assembly center in Vietnam and among the top in Southeast Asia. Passenger cars, trucks, and buses originating from Chu Lai - Truong Hai have spread throughout the country and internationally, building the image and economic position of Quang Nam; establishing a national brand in Quang Nam. Thaco Group is the leading enterprise in Quang Nam, its development significantly impacting growth and making a major contribution to the province's budget annually.
The Quang Nam Provincial Planning for the period 2021-2030, with a vision to 2050, identifies that Quang Nam will develop its industry towards a circular economy, high specialization, and automation. It will promote the development of automobile manufacturing and assembly, mechanical products, electrical and electronic products; and establish a national multi-purpose mechanical and automotive center… These orientations align with Thaco's development strategy. And Thaco has become a key enterprise in implementing the orientations outlined in the Government's Planning.
The Chairman of the People's Committee of Quang Nam province, Mr. Le Tri Thanh, affirmed that Thaco Truong Hai is already "a big eagle" and that there are not many diversified corporations like Truong Hai in the country. Since Quang Nam province has such a big "eagle," it must nurture and create conditions for this "eagle" to grow stronger, which will then give rise to other "eagles."
Currently, six corporations under Thaco are gradually forming six "eagles," and the province will strive to create all conditions to support and work with Thaco to form six more "eagles."
"Thaco's development has had a significant impact not only in Quang Nam, but also on the Central Highlands and the northern region."
"Cambodia and the southern region of Laos are important areas, so we must continue to create favorable conditions for Truong Hai to develop even stronger," Mr. Le Tri Thanh affirmed.
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Gold mine and electricity generation
Another important industrial sector targeted in the Quang Nam Provincial Planning is promoting the development of the Central Vietnam Gas Power Center Project, linked to energy-intensive industries and gas-related products in the Chu Lai Open Economic Zone, creating new development momentum for the province and the region.
This project is considered a "gold mine" for the two localities of Quang Nam and Quang Ngai.
The Central Vietnam Gas Power Center comprises four power plants with a total capacity of 3,000 MW, utilizing raw materials extracted from the Blue Whale gas field. The plan has been approved by the Prime Minister, and investment preparation is currently underway.
Published data shows that the Blue Whale Gas-Power Project Chain includes the Blue Whale Gas Field Development Project, and power plant projects using gas from the Blue Whale gas field (Central Region I, II, Quang Nam province) and Dung Quat I, II, and III (Quang Ngai province). It is expected that, upon commercial operation, the five power plants in the Blue Whale Gas-Power Project Chain will supply the national grid with 23-25 billion kWh of electricity annually. Preliminary calculations suggest that total state budget revenue from this project chain will exceed ten billion USD.
When operational, this project will create a strong breakthrough in economic growth and budget revenue for Quang Nam. Therefore, the locality has prepared all conditions and provided maximum support to partners surveying the sea and land areas where the project is planned to be located. Quang Nam has planned 1,000 hectares of land, adjusted the planning, and formed concentrated industrial zones (approximately 3,000 hectares), promoting projects that utilize gas products. It is ready to hand over a clean site when the investor implements the project.
According to initial calculations, Quang Nam province's budget will receive an additional $1 billion USD annually from this project, creating jobs for 3,000-4,000 workers. In July 2023, the Quang Nam Provincial People's Committee assigned the Management Board of Economic Zones and Industrial Parks to take the lead and coordinate with relevant departments to implement the proposals of the Ministry of Industry and Trade regarding the promotion of the Blue Whale Gas-Power Project Chain.
Not only Quang Nam, but Quang Ngai province is also eagerly awaiting the Blue Whale gas-power project chain, because three projects within the Blue Whale gas-power chain will be implemented in the Dung Quat Economic Zone, including the Dung Quat Gas Power Plants I, II, and III, and a shared infrastructure project for combined-cycle gas turbine power plants. Each project is expected to have a capacity of 750 MW; the total investment for the three projects is 2.5 billion USD. Quang Ngai province has also prepared the necessary conditions for project implementation, once the gas supply from the upstream project of the Blue Whale gas-power chain begins…
It is still uncertain when the first gas flow from the Blue Whale field will be brought ashore, but with its promising potential and the plans being actively implemented, it is believed that one day, this "gold mine" will be exploited.
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