Mr. Tatsuo Yasunaga’s visit to Tasco took place right after Tasco and Mitsui concluded their strategic partnership agreement, investing in Tasco Auto. During this visit, the Chairman of Mitsui and his team had a field trip to Tasco Mall, a member of the Tasco system and also the location where the Automall model that integrates multiple brands that Tasco is aiming for is being deployed.
Mitsui’s senior delegation, led by Mr. Tatsuo Yasunaga, visits and works at Tasco Mall.
At Tasco Mall, apart from shopping conveniences that welcome 5-7 million visitors each year, the nearly 5-hectare mall also houses a chain of car showrooms and workshops of various brands distributed by the Tasco system, such as Volvo, Toyota, Lynk & Co, and the used car trading platform, Carpla. This is a rare destination in Vietnam where car users and their families are fully served with services related to their vehicles as well as other shopping, culinary, and entertainment needs in life.
The delegation visits Tasco Mall – where Tasco deploys the Automall model integrating multiple brands. Tasco Mall is also a pioneer shopping mall that equips itself with a fire truck to ensure on-site fire rescue.
Also during this visit, the Chairman of Mitsui shared his insights on the growth potential of the Vietnamese automobile market and Mitsui’s investment perspective as a strategic shareholder. The highest leaders of Mitsui and Tasco had a discussion about specific cooperation proposals that Mitsui will accompany Tasco in the future, especially in sharing experiences and managing risks towards sustainable development.
Senior leaders of Mitsui and Tasco discuss strategies at Lynk & Co Club, which belongs to the Tasco Auto system.
Through this cooperation, apart from receiving additional financial resources for its development plan, Tasco will have the opportunity to learn from international operational and management experiences, optimize efficiency, and take advantage of the position and network of its partner. By doing so, Tasco can materialize the growth potential of the industry and continue pursuing its long-term development goals. Meanwhile, Mitsui will bring technological solutions, provide consulting services, and accompany Tasco in improving operational efficiency and enhancing governance structures. For Mitsui, this is also an opportunity for the Japanese company to engage deeper in rapidly developing fields in a market of 100 million people like Vietnam.
Mr. Vu Dinh Do, Chairman of Tasco (2nd from left), and Mr. Tatsuo Yasunaga, Chairman of Mitsui (4th from left), along with the delegations of Tasco and Mitsui, visit Automall Carpla, which belongs to the Tasco Auto system.
The Mitsui and Tasco delegations work at Toyota Long Bien showroom, one of the 90 showrooms in the Tasco Auto system.
Visit and work at Lynk & Co Club, which belongs to the Tasco Auto system.
With Tasco’s vision to become the leading choice in Vietnam for automobile services and smart transportation infrastructure, Tasco Auto is considered a strategic piece, combining with other units in the same system to provide comprehensive and lifelong services for vehicles and their owners.
Along with expanding its network of 90 existing showrooms and a portfolio of 15 car brands being distributed, including Volvo, Lynk & Co, Zeekr, Toyota, Ford, Mitsubishi, etc., Tasco holds the largest market share in Vietnam (13.3%).
Recently, the company also affirmed its strong determination to move upstream in the industry with a car assembly (CKD) project to be developed in 2024, with the goal of launching products in 2025 in collaboration with a global partner ranked among the top 10 largest automobile companies in the world.
Mitsui is a leading Japanese trading and investment conglomerate with a presence in over 60 countries and territories and a diverse range of business fields. The automobile and transportation sector is one of Mitsui’s investment priorities, with investments in over 100 companies across 26 countries. In this field, Mitsui has extensive experience in deeply engaging in the supply chain and developing next-generation mobility solutions.
The American Dream: Elevating Vietnamese Exports
The strong demand for “Made in Vietnam” products from American consumers has boosted the country’s export recovery to the US. Exports, which had declined by 21% in the first seven months of 2023, surged to a 24% increase in the same period this year, propelling manufacturing activity to a robust 10% growth.
The Vice Prime Minister Meets with Leading Hong Kong Conglomerates.
On the afternoon of September 10, immediately upon arriving in Hong Kong, China, to attend the 9th Belt and Road Summit at the invitation of the Chief Executive of the Hong Kong Special Administrative Region, Mr. John Lee, Vietnam’s Permanent Deputy Prime Minister, Mr. Nguyen Hoa Binh, met with leaders of several of Hong Kong’s foremost business groups, which have significant cooperative investments in Vietnam.
The Storm’s Wake: Businesses Battered by Yagi’s Fury
Super Typhoon Yagi, the most powerful storm to hit Asia in 2024 so far, wreaked havoc on Vietnam’s infrastructure and industrial facilities.
Request to Halt Operations on Vulnerable Bridges Amid High Water Levels
The collapse of the Phong Chau Bridge in Phu Tho has prompted the Vietnam Road Administration to take immediate action. They have mandated a temporary cessation of traffic on bridges deemed unsafe due to natural disasters, high water levels, strong currents, or structural weakness. This proactive measure ensures the safety of commuters and highlights the administration’s commitment to maintaining a robust and secure transportation network across Vietnam.
[Infographic] Flood Levels in the Northern Regions Over the Next 24 Hours
There is a high risk of flooding in the low-lying areas along the river banks in the provinces of Lang Son, Cao Bang, Lao Cai, Yen Bai, Phu Tho, Bac Giang, Bac Kan, Thai Nguyen, Hoa Binh, Ninh Binh, and Thanh Hoa. In addition, the threat of flash floods and landslides looms over the mountainous regions of Northern Vietnam and Thanh Hoa province.
