The project of Expansion of THACO Chu Lai Mechanical Automotive Industrial Park covers an area of 115 hectares with a total capital of 1,600 billion VND. The project aims to lower THACO’s auto cost, increase localization rates for tourism cars in Vietnam to over 40%, export THACO’s autos to ASEAN countries by 2020 and establish a large-scale centralized multi-use mechanical center in Central Vietnam. It also aims to develop agricultural engineering; construction Engineering; Mechanical and industrial equipment basing on automobile mechanics. This is the THACO’s multidisciplinary strategy, the master plan for the development of Chu Lai Open Economic Zone and Quang Nam’s eastern development incuding hi-tech and organic agriculture.
The agricultural and forestry industrial park project will initially focus on developing value chains for fruit and forestry products, with services ranging from researching seedlings to developing farming, harvesting, processing and distribution technologies and methods, thereby creating a raw material area for the Central and Central Highlands regions, Laos and Cambodia.It will also be home to livestock farming areas, factories for producing agricultural equipment and cold-storage facilities. The industrial park will cover 451 hectares of land and requires an estimated investment of more than VND8.1 trillion. It's expected to attract multiple domestic and foreign investors to the Chu Lai Open Economic Zone and generate jobs for 20,000 workers.
In addition, the agricultural and forestry industrial park project can create a synchronous agricultural-forestry-forestry ecosystem, complementing the value chain, increasing competitiveness and sustainable development in the context of international economic integration. With its technology and comprehensive comsumption, the project is pervasive to farmers of Quang Nam and the Central-Highland provinces.
Also on March 24th, THACO also began constructing a 790-meter wharf for 50,000-ton vessels, which needs VND2.6 trillion in investment. The wharf, once in place, is expected to reduce goods transport fees, thus attracting more investors to the Chu Lai Open Economic Zone in the coming years.
Further, a residential area for workers and resettlement will be developed on 30 hectares of the economic zone. The VND2.76-trillion project will provide accommodation to some 5,000 local workers and residents with 1,220 apartments.
Chairman Dinh Van Thu said that the provincial government’s main priority was to develop Chu Lai into a multisector industrial center in the shortest amount of time, associated with the development of airports and seaports.
Thaco is a pioneer in Chu Lai's development. These above projects play an important role in the sustainable development of automotive production, developing the mechanization of agriculture - forestry, improving he value of agricultural products, and creating a breakthrough for the development of the people. He committed to accompany and to create the most favorable conditions for Thaco's development in the new period, which is also a contribution to the success of Quang Nam Province.
Speaking at the groundbreaking ceremony for the projects, Prime Minister Nguyen Xuan Phuc praised Thaco’s achievements and its latest projects in the Chu Lai Open Economic Zone. He expected Chu Lai to become an economic hub in the central region, which is not only a center for producing automobiles and automotive parts, textiles and garments and hi-tech agricultural products but is also a hub for logistics and tourism services, in association with Chu Lai seaport and airport.
The Prime Minister also asked the ministries and central branches to actively coordinate, support and help businesses remove difficulties to attract more and more strategic investors to QUang Nam, contributing to Quang Nam's development as well as Vietnam's development.
On this occasion, Quang Nam ranted investment certificates to the agro-forestry industrial park (Thadi). THACO also signed a number of strategic cooperation contracts with domestic and foreign corporations and enterprises in the field of manufacturing and supplying clean agriculture.