Thaco and its new investment cycle
Manufacturing and assembling automobiles is the key economic sector in Quang Nam, accounting for nearly 43% of production values. In 2018, 97 thousand units were produced and assembled, which brought about over VND 43 billion. The industrial production value of automobile manufacturing and assembly showed an average increase of 4% a year in the past three years. At present, Thaco (Truong Hai Auto Corporation) starts the 4th investment cycle of big projects such as expanding the automotive mechanical complex, building a 451-ha industrial area specializing in agriculture and forestry, a 350m-long deep water port that can receive 50 thousand ton vessels.
According to Chairman of Thaco Tran Ba Duong, Thaco is always applying new advanced technology to raise its auto production value. Besides, Thaco has carried out several national science and technology research projects including designing and manufacturing luxury sleeper buses with Vietnamese brand, innovating technology of manufacturing and assembling small and medium sized tarpaulin trucks, designing and manufacturing 4-wheel 50HP tractors with Vietnamese brand, and automating the process of manufacturing springs towards building smart factories among others.
Moreover, Thaco-produced buses have reached the localization rate of 60%, and begin aiming at export to ASEAN markets. Some others do 35-45%. The rate is expected to be 60% by 2019.
The provincial industrial growth is the investment result of car manufacturing and assembling, drinks production, textile and garment industry, and service industry.
It is noteworthy that the beverage industry has been dramatically developing. Its industrial production value achieved an average increase of 38.15 % a year in the period of 2016-2018. Besides Pepsico in Dien Nam- Dien Ngoc Industrial Park (Dien Ban Town), there is Henieken company which is planned to expand its capacity to 220 million litters a year.
The growth speed of the textile and garment industry is 10% a year with some new projects such as Panko Tam Thang (its investment capital of USD70 million), Moon Chang Vina (its investment capital of USD6 million.
According to Deputy Chairman of Quang Nam provincial People’s Committee Huynh Khanh Toan, Quang Nam is encouraging to develop some key industries in depth, raising the competitiveness and sustainability, promoting the change of economic structure to industry and services. Some industrial branches are especially paid attention, including processing, manufacturing, electronics, telecommunications, new energy and renewable energy. The priorities will be given to the projects on high technology, support industries, energy and natural resources. In addition, labor-intensive industries will gradually be moved to rural and mountainous areas.