On the morning of February 8, during his working program in Quang Nam, Prime Minister Pham Minh Chinh visited a number of key economic establishments and large enterprises of the province, including Chu Lai Open Economic Zone, Chu Lai seaport, Chu Lai airport, factories of THACO Group and HS Hyosung Group.
The Prime Minister inspected Chu Lai International Port, Chu Lai International Airport and visited and worked with Truong Hai Group Joint Stock Company (THACO) in Chu Lai Open Economic Zone.
THACO is one of the largest private enterprises in Vietnam, operating in multiple sectors, including automobiles, agriculture, mechanics and supporting industries, investment-construction, trade-services and logistics, developing on the basis of industrial management, with integration and complementarity.
In the automobile sector alone, in 2024, THACO sold more than 92,000 vehicles, accounting for more than 32% of the domestic automobile market share; exports reached more than 1,100 vehicles with revenue of more than 12.6 million USD. The plan for 2025 is to complete the investment in construction and put into operation a new automobile R&D Center, focusing on product research and development activities; the target of automobile sales is over 100,000 vehicles, focusing on high-value products to achieve revenue of VND 80,847 billion and export over 4,000 vehicles with revenue of more than 35 million USD.
To date, THACO Chu Lai-Quang Nam is considered the largest concentrated mechanical-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 make efforts to implement strategic projects to form a new generation multi-industry industrial ecosystem of THACO in Chu Lai - Quang Nam on the basis of industrial management, green, smart, modern and sustainable development.
Meanwhile, the agricultural sector's consolidated revenue in 2024 is estimated to reach 2,000 billion VND, expected to reach more than 8,340 billion VND in 2025; the mechanical manufacturing and supporting industry sector's total revenue in 2024 will reach more than 10,700 billion VND, export revenue will reach 128 million USD...
THACO's total budget contribution in 2024 is more than 23,700 billion VND, of which the Quang Nam provincial budget contribution is more than 19,300 billion VND. The Group also creates jobs for more than 60,000 workers, 15,000 in Quang Nam alone.
Chu Lai Open Economic Zone is the first coastal economic zone established by the Prime Minister in 2003, one of eight national key economic zones, with a comprehensive economic zone model, applying new policy mechanisms, creating a favorable, equal investment environment, in accordance with international practices.
To date, Chu Lai Open Economic Zone has attracted more than 4.5 billion USD in investment capital, making an important contribution to transforming Quang Nam from a poor province to a locality that can balance its own budget and regulate to the Central Government. Investment projects and enterprises 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 the premise for Quang Nam products to participate in the market and global value chain...
In recent days, THACO has just inaugurated a 50,000-ton container port at Chu Lai International Port with a total investment of VND 1,590 billion along with a series of factories in Chu Lai Open Economic Zone. Previously, in March 2022, during a working trip to Quang Nam, the Prime Minister agreed in principle to build this 50,000-ton port and to date, the project has been completed, becoming an important trading hub and logistics center of the Central Highlands region, connecting Southern Laos and Northern Cambodia.
The Prime Minister acknowledged, commended and highly appreciated the activities and proud achievements of THACO after more than 2 years since the previous visit, with higher quality products, higher localization rate, more suitable prices, more digitalization and automation, creating more jobs, making great contributions to the budget, promoting social responsibility, especially focusing on research and development, promoting innovation and industrialization.
The Prime Minister requested THACO to be a pioneer in innovation, accelerate and make breakthroughs in growth, develop comprehensively, inclusively, sustainably and positively, promote digital transformation, green transformation, creative economy, ensure labor safety and a clean and green environment, do better in participating in ensuring social security, contributing to the growth target of 10% in Quang Nam and at least 8% in the whole country in 2025.
Regarding THACO's recommendations, the Prime Minister assigned the Ministry of Transport to immediately resolve procedures related to the investment in the Cua Lo route project for 50,000-ton ships entering Chu Lai port in the spirit of ensuring substance, efficiency, for the common interest, ensuring transparency, and fighting negativity and corruption.
In particular, the Prime Minister requested THACO to participate in research, technology transfer, and production of high-speed railway cars, moving towards research, technology transfer, and production of locomotives. He believed that THACO would achieve better results in 2025 than in 2024 in all aspects.
Previously, the Prime Minister visited HS Hyosung's factory in Thang Binh district.
Hyosung High School is a multi-industry corporation, among the 30 largest economic groups in Korea; leading 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 services, AI research and big data centers, etc.
Hyosung HS started investing in Quang Nam in 2018 with a commitment to invest in an industrial complex with a total capital of 1.34 billion USD; up to now, it has stably operated 2 curtain fabric and airbag fabric projects with a capital of 452 million USD, annual revenue of about 200 million USD, expected to be about 250 million USD in 2025. Hyosung employs more than 1,000 direct workers with an average income of 10 to 12 million VND/month and thousands of indirect workers.
The Group plans to invest in a furniture factory project in Quang Nam in 2025, providing car interior products and commercial carpets with a scale of 110 million USD and officially put the factory into operation in the second quarter of 2026.
The Group actively supports the prevention and control of the COVID-19 epidemic with a total budget of 32 billion VND; implements a project to support livelihoods for women in difficult circumstances in Thang Binh district, Quang Nam province with a total budget of nearly 2 billion VND, projects under the annual social fund (100,000 USD) of Hyosung Quang Nam...
Prime Minister Pham Minh Chinh congratulated HS Hyosung on the results it has achieved in production and business in Quang Nam and is developing well in Vietnam; he asked Quang Nam province to support and create the best conditions for the group to operate smoothly as committed.
Assessing that the Vietnam-Korea relationship is developing very well, people-to-people exchange is growing stronger, and there are more and more Vietnamese-Korean multicultural families, the Prime Minister welcomed and suggested that the group continue to make practical contributions to promoting the friendly and cooperative relations between the two countries by promoting effective and profitable production and business, creating jobs and doing well in social security work, contributing to promoting people-to-people exchange.
The Prime Minister said that this year, Vietnam has determined that GDP growth will be at least 8%, and double-digit growth in the coming years, so the group needs to stick to this target to build programs and projects, contributing to Vietnam's growth. At the same time, Quang Nam province, based on the growth target assigned by the Government, encourages the whole province to strive to complete it.
The Prime Minister requested that Hyosung HS operate in compliance with legal regulations and commitments. The Prime Minister requested that ministries, branches and localities also resolve problems as quickly as possible. If they are under the authority of Quang Nam province, the province must resolve them immediately. If they are under the authority of ministries and branches, the province must report them immediately. At the same time, the group also needs to make recommendations to the Government, ministries and branches on problems to study and remove institutional problems in the spirit of promoting decentralization and delegation of power.
Regarding the proposals of HS Hyosung, the Prime Minister requested the Ministry of Natural Resources and Environment to report and propose amendments to regulations to remove obstacles related to the environmental sector. The Ministry of Labor, War Invalids and Social Affairs should study, promptly amend and complete regulations on granting licenses to foreign workers and experts...
Agree to develop Chu Lai airport in a dual-use direction
On the same day, Prime Minister Pham Minh Chinh visited Chu Lai Airport; inspected the implementation of the Prime Minister's direction nearly 3 years ago on the Project to socialize investment and exploitation of Chu Lai Airport.
According to the People's Committee of Quang Nam province, implementing 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 additional planning and implemented steps to invest, exploit and manage the infrastructure of Chu Lai Airport under the PPP form.
Chu Lai Airport has been added to the Master Plan for the development of the national airport system for the period 2021-2030, with a vision to 2050. Based on that, the province has developed a project to develop Chu Lai Port, with a scale of about 10 million passengers/year by 2030 and about 30 million passengers/year by 2050.
Currently, Quang Nam province has completed the establishment and is waiting for the Central Government's policy on socialization of investment and airport exploitation to continue completing the Project on investment, exploitation and management of Chu Lai Airport infrastructure under the PPP form. It is known that SOVICO Group and VIETJET Aviation Joint Stock Company have proposed to invest in Chu Lai International Airport.
Agreeing to develop Chu Lai airport in a dual-use direction, the Prime Minister assigned ministries and branches to coordinate with Quang Nam province to review and delimit the land area used for national defense, civil and economic development purposes; evaluate assets; complete the submission of the Chu Lai International Airport Planning dossier for the period 2021-2030, with a vision to 2050, for submission to the Prime Minister for approval; promptly appraise and submit to competent authorities for approval the Project on socialization of investment and exploitation of airports to serve as a basis for completing the Project on socialization of investment and exploitation of Chu Lai airport.
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