President commends THACO for economic contributions

Addressing a ceremony marking the 25th anniversary of THACO in Ho Chi Minh City on December 11, the President expressed his impression on what the corporation has brought about in the Chu Lai Open Economic Zone , the central province of Quang Nam.

He described THACO as a successful model of the private economic sector while joining the process of economic restructuring and modernisation, stressing that its successes demonstrate the favourable domestic environment.

The President used the occasion to urge Vietnamese economic groups, both State-owned and private, to be the pioneers in high-tech research and application, and global market penetration, thus promoting national brands.

THACO was asked to inspire others to embark on green economy and circular economy, protect the environment, promote humane values and social progress, and pay more attention to labourers during operations.

The President also suggested the Government continue to roll out mechanisms and policies to promote advanced science-technology, and autonomy at research institutes, and encourage businesses to utilise new technologies to improve their productivity and competitiveness.

Phuc noted his belief that the corporation will reap more successes, generate quality jobs for labourers, and contribute more to the state budget.

Founded on April 29, 1997 in the southern province of Dong Nai, THACO has turned from a company which traded and repaired second-hand vehicles, THACO into a multi-industry holding corporation which has two sub-holdings - THACO AUTO (automobiles) and THAGRICO (Agro-forestry production), and four subsidiaries – THACO INDUSTRIES (Mechanics & Supporting Industries), THADICO (Investment – Construction), THILOGI (Logistics) and THISO (Commerce – Service) in a highly integrated and complementary model.