Prime Minister requests THACO to research and produce high-speed railway cars

On the morning of February 8, during his working program in Quang Nam, Prime Minister Pham Minh Chinh visited factories of THACO, HS Hyosung Group, Chu Lai seaport and airport.

Prime Minister Pham Minh Chinh visits THACO Group's factory - Photo: L.TRUNG

Prime Minister Pham Minh Chinh visited factories of 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.

In the automobile sector alone, in 2024, THACO sold more than 91,000 vehicles, accounting for more than 32% of the domestic automobile market share, exporting more than 1,100 vehicles with revenue of more than 12.6 million USD.

Plan for 2025, complete investment in construction and put into operation a new automobile R&D Center, focusing on product research and development activities.

The target of car sales is over 100,000 vehicles, focusing on high-value products to achieve revenue of VND 80,847 billion, exporting over 4,000 vehicles to achieve revenue of over USD 35 million.

Prime Minister visits THACO factory - Photo: L.TRUNG

Mr. Tran Ba Duong - Chairman of THACO Board of Directors - committed to making 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.

THACO has also just inaugurated a 50,000-ton container port at Chu Lai international port, with a total investment of VND1,590 billion and a series of factories.

Prime Minister Pham Minh Chinh acknowledged, commended and highly appreciated the activities and achievements of THACO.

With higher quality products, higher localization rate, more suitable prices, more digitalization and automation, creating more jobs, contributing greatly to the budget, promoting social responsibility.

Prime Minister visits Chu Lai international port - Photo: L.TRUNG

The Prime Minister asked THACO to pioneer in innovation, accelerate and make breakthroughs in growth, develop comprehensively and sustainably, promote digital transformation, green transformation, and creative economy.

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 and efficiency.

The Prime Minister asked THACO to participate in research, technology transfer, and production of high-speed railway cars, moving towards research, technology transfer, and production of locomotives, and believed that THACO would achieve better results in 2025 than in 2024 in all aspects.

Previously, Prime Minister Pham Minh Chinh also visited the factory of HS Hyosung, a multi-industry corporation, among the 30 largest economic groups in Korea.

Leader in research, development and manufacturing of advanced materials (automotive tire cords, high-tech fibers, carbon fibers), customer service for luxury automotive segments, global logistics and supply chain services, AI research and big data centers.

Prime Minister visits HS Hyosung factory - Photo: L. TRUNG

The Prime Minister congratulated Hyosung Group on its achievements in production and business in Quang Nam and its good development in Vietnam, and asked the province to support and create the best conditions for the group to operate smoothly as committed.

On the same day, Prime Minister Pham Minh Chinh visited Chu Lai international seaport and Chu Lai airport.

Currently, the 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.

On the same morning, Prime Minister Pham Minh Chinh also offered flowers and incense at the Vietnamese Heroic Mother Monument (Tam Ky City), the Quang Nam Province Martyrs' Cemetery and the Monument to Martyrs from Thanh Hoa Province.