Chairman of Quang Nam Provincial People’s Committee Expresses Opinion on Truong Hai Corporation

    

During the recent press conference on the announcement of the Quang Nam province’s 2021-2030 and 2050 vision plan, responding to questions from reporters about the province’s orientation to attract large investors so as not to rely too much on Truong Hai Auto Corporation (THACO) as before, Mr. Le Tri Thanh, Chairman of the People’s Committee of Quang Nam province, shared the province’s viewpoint.

    

        

        

    

    

According to Mr. Thanh, Quang Nam province understands that if it is too dependent on the revenue from Truong Hai, it will be difficult in case Truong Hai has fluctuations or faces competition in the market.

    

“However, the province’s viewpoint is that Truong Hai itself is already a large eagle. There are not many conglomerates like Truong Hai in the country.

    

Truong Hai has been associated with Quang Nam since 2003 and through that process, Truong Hai is currently restructuring, organizing, and developing various industries that are integrated and support each other to become a strong conglomerate. When one field is weak, there is another field to support it.

    

Now that we already have such a big eagle, we must nurture it and create conditions for it to grow stronger. From that eagle, more eagles will be born. Currently, the 6 companies under THACO Group are gradually forming 6 eagles, and we must make every effort to support and work with THACO Group to form another 6 eagles. The development of Truong Hai Group has a great impact not only on Quang Nam but also on the Central Highlands, Northern Cambodia, and Southern Laos, so we must continue to create conditions for Truong Hai to develop further.”

    

        

        

    

    

Secondly, through Truong Hai, an ecosystem will be created between Truong Hai Group and businesses in the Central region, including businesses in Quang Nam. Quang Nam businesses that can cooperate with Truong Hai in certain areas will be encouraged to cooperate so that there can be mutual development to support each other” – Mr. Le Tri Thanh shared.

    

The Chairman of the People’s Committee of Quang Nam province said that the province is also continuing to study and attract new businesses to come to Quang Nam to generate revenue for the province, based on the perspective of not relying too much on one corporation.

    “We are still taking these steps. The way Quang Nam attracts investment has changed. We don’t organize investment promotion conferences in the traditional way anymore. Based on the evaluation of potential, capacity, reputation, and suitability with the province’s investment attraction orientation, we will work directly with investors, discuss with them the opportunities and possibilities for investment cooperation in Quang Nam.”

    

        

        

    

    

It can be seen that in recent years, Quang Nam has not organized many investment promotion conferences anymore. Currently, the province focuses on proper planning, then identifies potential partners that are suitable for the province’s development orientation, and then works directly with them, inviting them to invest” – Mr. Le Tri Thanh added.

    

It is known that in recent years, over 50% of the revenue of the Quang Nam provincial budget depends on the contributions of THACO Group. In 2022 alone, THACO Group contributed 65% to the total revenue of Quang Nam with over VND 24,600 billion.