The opening ceremony of Bus Thaco Plant on December 8
Thaco Chairman Tran Ba Duong said since last year, they had built investment plans for new bus and minibus assembly plants along with a group of plants for supporting industries so that 40% of the components will be made in Vietnam. Bus Thaco Plant is the largest one in the South East Asia with modern and environmentally-friendly technology.
"We built a strategy to promote Vietnamese vehicle brands and started with Thaco buses that meet international standards to export to ASEAN countries next year," he said. "At least 550 buses will be exported to Thailand, Philippines, Cambodia and Taiwan in 2018."
Trinh Dinh Dung praised the effort and contributions of Quang Nam’s provincial authorities and local firms. He said he appreciated Thaco's effort in promoting and making local car manufacturing industry an important part of the country's socio-economic development.
"The car industry will help satisfy local demands, provide jobs for many people, and curb trade deficit," he said.
However, there are several shortcomings that need to be dealt with such as high prices compared to regional countries and inability to design cars that are suitable for Vietnam's infrastructure.
Dung said he expected the plant to keep improving its technology and corporate governance. The government will provide favourable environment and policies to boost the industry. He also hoped that Quang Nam provincial authorities will help local firms and turn the province into Vietnam's centre of car assembly and manufacturing.
