On the morning of February 8th, during his working visit to Quang Nam province , Prime Minister Pham Minh Chinh visited several key economic facilities and large enterprises in the province, including the Chu Lai Open Economic Zone, Chu Lai seaport, Chu Lai airport, and factories of the THACO Group and HS Hyosung Group.
The Prime Minister visited and inspected Chu Lai International Port and Chu Lai International Airport, and also visited and worked with Truong Hai Group Joint Stock Company ( THACO ) in the Chu Lai Open Economic Zone.
THACO is one of the largest private enterprises in Vietnam, operating in multiple sectors including automotive, agriculture, mechanical engineering and supporting industries, investment-construction, trade-services and logistics, developed on a foundation of industrial management that is integrated and complementary.
In the automotive sector alone, in 2024, THACO sold over 92,000 vehicles, accounting for more than 32% of the domestic automotive market share; exports reached over 1,100 vehicles with revenue exceeding US$12.6 million. The plan for 2025 is to complete the investment in and operation of a new automotive R&D center, focusing intensively on research and development; aiming for sales of over 100,000 vehicles, with a focus on high-value products to achieve revenue of VND 80,847 billion and exports of over 4,000 vehicles with revenue exceeding US$35 million.
To date, THACO Chu Lai-Quang Nam is considered the largest concentrated mechanical engineering, automotive, and logistics industrial center in the country and among the top in the ASEAN region; with a total workforce of nearly 15,000 employees.
Mr. Tran Ba Duong, Chairman of THACO, pledged to strive to implement strategic projects to form a new generation multi-industry industrial ecosystem for THACO in Chu Lai - Quang Nam, based on industrial management, green, smart, modern, and sustainable development.
Meanwhile, the agricultural sector is projected to achieve consolidated revenue of VND 2,000 billion in 2024, and over VND 8,340 billion in 2025; the mechanical manufacturing and supporting industries sector is expected to achieve total revenue of over VND 10,700 billion in 2024, with export revenue reaching USD 128 million…
THACO's total budget contribution in 2024 is more than 23,700 billion VND, of which the budget contribution to Quang Nam province is more than 19,300 billion VND. The Group also creates jobs for more than 60,000 workers, 15,000 in Quang Nam alone.
The Chu Lai Open Economic Zone is the first coastal economic zone established by a decision of the Prime Minister in 2003. It is one of eight key national economic zones, operating as a comprehensive economic zone, applying new policies and mechanisms to create a favorable and equitable investment environment in accordance with international practices.
To date, the Chu Lai Open Economic Zone has attracted over US$4.5 billion in investment capital, making a significant contribution to transforming Quang Nam from a poor province into one that can balance its budget and contribute to the central government. Investment projects and businesses in this area have contributed to changing the economic structure and GRDP of Quang Nam, increasing the proportion of industry, construction, trade, and services in the local economic structure to 88%, contributing more than 80% of total budget revenue, creating a foundation for Quang Nam products to participate in the global market and value chain…
Recently, THACO inaugurated a 50,000-ton dedicated container terminal at Chu Lai International Port with a total investment of VND 1,590 billion, along with a series of factories in the Chu Lai Open Economic Zone. Prior to this, in March 2022, during a working visit to Quang Nam, the Prime Minister approved the construction of this 50,000-ton terminal. The project has now been completed, becoming an important trade hub and logistics center for the Central and Central Highlands regions, connecting Southern Laos and Northern Cambodia.
The Prime Minister acknowledged, commended, and highly appreciated THACO's activities and the very proud achievements it has made in over two years since the previous visit, with higher quality products, a higher localization rate, more suitable prices, greater digitalization and automation, job creation, significant contributions to the budget, and social responsibility, especially its focus on research and development, promoting innovation and industrialization.
The Prime Minister urged THACO to be a pioneer in innovation, accelerate and break through in growth, develop comprehensively, inclusively, sustainably, and proactively, promote digital transformation, green transformation, and the creative economy, ensure labor safety and environmental hygiene, do even better in participating in ensuring social security, and contribute to the 10% growth target of Quang Nam and at least 8% of the whole country in 2025.
Regarding THACO's proposals, the Prime Minister instructed the Ministry of Transport to immediately resolve the procedures related to the investment project for the Cua Lo channel to allow 50,000-ton vessels to enter Chu Lai port, ensuring that it is substantive, effective, for the common good, transparent, and free from corruption.
In particular, suggesting that THACO participate in research, technology transfer, and production of high-speed railway carriages, and eventually research, technology transfer, and locomotive production, the Prime Minister expressed confidence that THACO will achieve better results in 2025 than in 2024 in all aspects.
Earlier, the Prime Minister visited HS Hyosung's factory in Thang Binh district.
HS Hyosung It is a diversified conglomerate, among the top 30 largest economic groups in South Korea; a leader in research, development, and production of advanced materials (automotive tire fibers, high-tech fibers, carbon fibers, etc.), customer service for luxury car segments, global logistics and supply chain services, AI research, and large data centers…
HS Hyosung began investing in Quang Nam in 2018 with a commitment to invest in an industrial complex with a total capital of US$1.34 billion. To date, it has stably operated two projects for curtain fabric and airbag fabric with a capital of US$452 million, generating annual revenue of over US$200 million, projected to reach US$250 million by 2025. Hyosung employs over 1,000 direct workers with an average income of VND 10-12 million per month and thousands of indirect workers.
The group plans to invest $110 million in a furniture manufacturing plant project in Quang Nam in 2025, supplying automotive interior products and commercial carpets, with the plant officially commencing operations in the second quarter of 2026.
The corporation actively supported COVID-19 prevention and control efforts with a total budget of 32 billion VND; implemented a livelihood support project for disadvantaged women in Thang Binh district, Quang Nam province with a total budget of nearly 2 billion VND, and projects funded by Hyosung Quang Nam's annual social fund (100,000 USD)...
Prime Minister Pham Minh Chinh congratulated HS Hyosung on the results achieved in production and business in Quang Nam and its successful development in Vietnam; he requested Quang Nam province to support and create the best conditions for the group to operate smoothly as committed.
Assessing the Vietnam-Korea relationship as developing very well, with people-to-people exchanges growing stronger and more and more Vietnamese-Korean multicultural families emerging, the Prime Minister welcomed and requested the corporation to continue making practical contributions to promoting friendship and cooperation between the two countries by boosting production and business effectively and profitably, creating jobs and doing a good job in social welfare, contributing to promoting people-to-people exchanges.
The Prime Minister stated that this year, Vietnam aims for at least 8% GDP growth, with double-digit growth in the coming years. Therefore, the corporation needs to adhere closely to this target in developing programs and projects, contributing to Vietnam's growth. At the same time, Quang Nam province should base its efforts on the growth targets set by the Government and encourage the entire province to strive to achieve them.
The Prime Minister requested that HS Hyosung operate in strict compliance with legal regulations and commitments. He also urged ministries, sectors, and localities to resolve any obstacles as quickly as possible. If the issue falls under the jurisdiction of Quang Nam province, the province must resolve it immediately; if it falls under the jurisdiction of ministries and sectors, the province must report it immediately. At the same time, the corporation should also propose to the Government and relevant ministries and sectors any obstacles to be studied and addressed, with a focus on promoting decentralization and delegation of power.
Regarding HS Hyosung's proposals, the Prime Minister requested the Ministry of Natural Resources and Environment to report and propose amendments to regulations to address obstacles related to the environmental sector. The Ministry of Labor, Invalids and Social Affairs was instructed to study and urgently revise and improve regulations on granting permits to foreign workers and experts…
Agreement to develop Chu Lai airport in a dual-use direction.
On the same day, Prime Minister Pham Minh Chinh visited Chu Lai Airport; inspecting the implementation of the Prime Minister's directive from nearly three years ago regarding the project to socialize investment and operation of Chu Lai Airport.
According to the Quang Nam Provincial People's Committee, following the direction of the Prime Minister during his working visit to Quang Nam in early 2022, the Ministry of Transport and Quang Nam province have actively coordinated, proposed additions to the planning, and implemented steps to invest in, operate, and manage the infrastructure of Chu Lai Airport under the PPP (Public-Private Partnership) model.
Chu Lai Airport has been added to the National Airport and Airfield Development Master Plan for the period 2021-2030, with a vision to 2050. Based on this, the province is developing a plan for the development of Chu Lai Airport, with a projected capacity of approximately 10 million passengers per year by 2030 and approximately 30 million passengers per year by 2050.
Currently, Quang Nam province has completed the planning and is awaiting central government approval on the socialization of investment and operation of the airport to further finalize the Investment, Operation, and Management Plan for Chu Lai Airport infrastructure under the PPP (Public-Private Partnership) model. It is known that SOVICO Group and VIETJET Aviation Joint Stock Company have proposed investing in Chu Lai International Airport.
Agreeing on the development of Chu Lai Airport in a dual-use direction, the Prime Minister instructed ministries and agencies to coordinate with Quang Nam province to review and delineate land areas for national defense, civilian, and economic development purposes; appraise assets; finalize and submit the Chu Lai International Airport Master Plan for the period 2021-2030, with a vision to 2050, for the Prime Minister's approval; and promptly appraise and submit to the competent authority for approval the Project on Socialization of Investment and Operation of Airports to serve as a basis for finalizing the Project on Socialization of Investment and Operation of Chu Lai Airport.
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