Industrial giant Thaco breaks ground on $303 mln auto-mechanical industrial park in central Vietnam

Vietnam’s industrial conglomerate Truong Hai Group (Thaco) on Thursday broke ground on its 115-hectare expanded Chu Lai-Truong Hai Auto-Mechanical Industrial Park project in the central city of Danang.

The VND8 trillion ($303.32 million) project is set to position Danang as a national hub for high-tech industries and supporting manufacturing.

Next-gen green industrial park powered by AI

The new IP is developed under a modern, eco-friendly, smart industrial park model, integrating automation, digital technology, and AI. Of the total investment, VND1.43 trillion ($54.22 million) is allocated to infrastructure development.

The facility will house plants manufacturing high-tech components including smart electrical and electronic components, central control and sensor systems, and specialized electronics for automation.

It will also produce industrial robots, 3D printers, automated guided vehicle (AGVs), and autonomous mobile robots (AMRs); advanced computer numerical control (CNC) machines, light civil aircraft and drones; and EV fast-charging stations and smart transport systems.

All operations follow a closed-loop process: from design and material R&D to manufacturing, quality control, packaging, and logistics, meeting international standards and tailored customer needs.

Thaco emphasizes R&D as a key growth driver, with plans to develop a skilled workforce, attract top experts, and innovate breakthrough technologies to meet global market demands and deepen integration into global supply chains.

Boosting Danang as a high-tech hub

Nguyen Hoang Tue, deputy CEO of Thaco and CEO of Dai Quang Minh Real Estate Corporation, said the project marks a strategic step forward in expanding Thaco’s mechanical and supporting industries value chain, focusing on in-depth technology investment.

The expanded park will produce high-tech products while leveraging outputs from the Danang Hi-Tech Park to build an integrated manufacturing ecosystem, aligning with Danang’s 2021-2030 development plan and 2050 vision.

The project is expected to drive local economic growth, attract further investment, create thousands of jobs, and strengthen Vietnam’s mechanical and industrial infrastructure.

Phan Thai Binh, Vice Chairman of the Danang People’s Committee, noted that the Chu Lai Open Economic Zone has long served as a growth engine in industry, services, and logistics, with Thaco at its core.

He affirmed that the expanded industrial park will attract investments in auto-mechanics, electronics, and supporting industries; increase localization rates; expand manufacturing and exports; and boost logistics services at Ky Ha and Chu Lai ports.

It will also contribute significantly to state revenue and trade balance; and create high-quality jobs and foster workforce upskilling through training and tech transfer.

To ensure the project’s success, Binh urged all stakeholders - from government agencies to local communities - to streamline procedures and expedite land clearance to facilitate construction.

“We call on businesses to explore investment opportunities and form linkages in auto-mechanical sectors. We also ask local residents to support land handover efforts so the project can go into operation as planned,” Binh said.

On July 1, 2025, Danang city and its neighboring Quang Nam province were merged to form the new Danang city.