Recently, Mr. Tran Ba Duong, Chairman of THACO Group, has sent a letter to the company’s employees about the business plan for 2024. In the letter, Mr. Tran Ba Duong mentioned that the economy in 2024 is expected to face difficulties, challenges, and low consumer demand similar to 2023, with a slight growth expected in the last 6 months of the year. This is also the second year that THACO continues to implement its Multi-industry Strategy and 5-year Plan (2023-2027).
Firstly, for THACO Industries, in 2024, the company will continue to invest and operate new factories in Chu Lai, including: Premium car engine factory; Car body and frame components factory; Touring car interior complex.
Furthermore, the company plans to establish and operate a sales company in the U.S. for the North American market (including the U.S., Canada, Mexico); establish and manage 2 representative offices in Europe and Australia to support existing customers and develop the market.
THACO Industries aims to achieve a revenue of 13,000 billion VND in 2024, with export revenue of 250 million USD. The total investment capital is 2,100 billion VND; additional recruitment of 980 employees (including the recruitment of 321 engineers for the R&D center). By the end of 2024, the total number of employees will be 8,620.
The THACO ecosystem of Mr. Tran Ba Duong.
For THACO AUTO, in 2024, the company will develop new products, introduce and sell them in the market, including 09 models of cars; 13 models of trucks and 06 models of buses under the THACO brand. At the same time, the company will invest in building a larger R&D center with synchronized and modern equipment to meet technological development requirements in car manufacturing and assembly.
The sales plan of THACO AUTO in 2024 is to sell 95,400 cars of all types, including 76,200 cars and 19,200 trucks and buses, accounting for 38% of the domestic automobile market; exporting more than 1,600 cars. The projected consolidated revenue is 68,400 billion VND. The total investment capital is over 2,100 billion VND. By the end of 2024, the total number of employees will be 14,986.
THACO Agri in 2024 will continue to invest in building and completing large-scale integrated/organic agriculture production complexes, including 1 complex in the Central Highlands, 2 complexes in Cambodia, and 1 complex in Laos.
In 2024, THACO’s goal for consolidated revenue of THACO AGRI is about 6,600 billion VND, with export revenue of 190 million USD. The total investment capital is 5,800 billion VND; additional recruitment of 12,600 employees. By the end of 2024, the total number of employees of THACO AGRI will be 34,300.
THADICO (Dai Quang Minh) will continue to invest in completing the infrastructure of 3 specialized industrial zones in Chu Lai – Quang Nam and Thai Binh, as well as study investing in an industrial zone in Binh Duong. In addition, the company will complete and hand over the Chu Lai port expansion and upgrade project; Implement dredging of the Ky Ha channel. At the same time, actively carry out legal investment work for the Cua Lo channel in Chu Lai.
For the Complex Real Estate, THADICO will continue to complete the construction of the THISO Mall Truong Chinh – Phan Huy Ich project; upgrade the THISO Yangon Complex in Myanmar. In addition, the company will commence 2 projects in the North and 10 projects in the South to meet the development plan of the THISO commercial center chain system for the 2024-2027 period.
For the multi-brand car basket, THADICO will complete and hand over 3 projects in Hue, Da Lat, and Tien Giang; commence 6 new projects (2 in the North, 4 in the South) to implement the upgrade plan for 28 existing car showroom projects. In addition, THADICO will continue to implement 36 projects on the available land funds of THACO.
The total investment capital for THADICO in 2024 is 3,085 billion VND; additional recruitment of 306 employees. By the end of 2024, the total number of employees will be 2,645.
As for THISO, the company will focus on three main activities including: leasing business premises; conference and wedding center business; consumer retail business. In 2024, THISO aims to achieve a total revenue of over 5,800 billion VND, with a total investment of over 7,900 billion VND, of which 83% is spent on activities receiving project transfer from Thadico, Thaco.
Finally, for THILOGI, the company is expected to complete and put into operation a 50,000-ton wharf with modern equipment to improve container handling capacity, and actively invest in road transport suitable for each route to minimize transport costs. Implement the construction of a new operations office, with a total investment of nearly 1,000 billion VND in 2024.
The business plan for 2024 is to transport more than 20,100 containers of fruits and agricultural supplies in circulation. Implement domestic shipping services for more than 46,600 containers and international routes with 56,600 containers. The total cargo volume through Chu Lai port is estimated at 5 million tons, an increase of 62% compared to 2023.
The projected total revenue for 2024 is 3,800 billion VND (of which revenue from external business activities accounts for 40%); the total investment is nearly 1,000 billion VND. Additional recruitment of 239 employees. By the end of 2024, the total number of employees will be 1,605.
