Thaco Group eyes resort complex project in Quang Nam

By An Le
Wed, May 11, 2022 | 4:28 pm GMT+7
A corner view of Tam Hai Island commune in Nui Thanh district, Quang Nam province. Photo courtesy of the commune

A corner view of Tam Hai Island commune in Nui Thanh district, Quang Nam province. Photo courtesy of the commune

Truong Hai Group, a multi-sector Vietnamese conglomerate, is seeking to invest in the Long Thanh Tay tourism and resort complex project in Quang Nam province, central Vietnam.

The group had expressed its interest in the project in recent talks with provincial authorities.

The 32-hectare project will cover the entire area of Long Thanh Tay Island, a distinct oasis of the Tam Hai Island commune, Nui Thanh district. It is largely cut off from the outside world by Truong Giang River, with about 100 households.

Residents on the island confront numerous tough natural conditions, like a shortage of clean water and transportation, and reliance on the river for their livelihoods. Quang Nam authorities planned to relocate the residents inland to improve their lives.

In 2003, Thaco invested in Chu Lai Open Economic Zone in Nui Thanh district. This is Vietnam’s first coastal economic zone in line with the government's plan on developing coastal economic zones by 2020.

The group planned to embark on several other projects in Quang Nam, including the 1,150-hectare expansion project of the Chu Lai Truong Hai automotive mechanical industrial park, costing VND1,000 billion ($43.4 million); and the 451-hectare Thaco Chu Lai agroforestry industrial park with a total investment of VND8,118 billion.

Thaco also planned two large-scale urban projects, including the 329.32-hectare Chu Lai, and Tam Hoa-Tam Tien urban areas.

Quang Nam authorities in late 2021 called on Thaco to invest in the Tam Hiep port expansion project. The group is investing in port logistics and infrastructure to develop the complex into a large-scale international container hub.

Quang Nam is home to two world cultural heritages, the Hoi An ancient town and My Son ancient temple complex, as well as Cu Lao Cham world biosphere reserve. It has become one of nine provinces with a double-digit growth rate, ranking fifth in the country and first in the central key economic region.

Many large enterprises have invested in Quang Nam, including Thaco with mentioned projects; Vingroup with the 200-hectare Vinpearl Nam Hoi An tourism and resort complex project in Thang Binh district, with a total investment of VND5,000 billion; Nam Hoi An Development Co., under VinaCapital Group, with the $4 billion, 985-hectare Nam Hoi An resort project in Duy Xuyen and Thang Binh districts.

Panko Group, a Korean real estate developer, recently requested 350 hectares in Hoi An or the east of Duy Xuyen district to develop smart urban areas and golf courses. FLC, NovaGroup, and Sun Group have also invested in Quang Nam.

Among the giants, Thaco is the most important enterprise, accounting for VND6,225 billion or 40.7% of Quang Nam’s budget over 11 months of 2021.

Comments (0)
  • Read More
Japanese retailer Aeon to debut another northern Vietnam shopping mall by end-2026

Japanese retailer Aeon to debut another northern Vietnam shopping mall by end-2026

Japanese-backed Aeonmall Vietnam is ramping up construction on its Aeon Mall Ha Long project in Quang Ninh province, home to Ha Long Bay, with an aim to open it to the public by end-2026.

Industries - Tue, September 16, 2025 | 3:54 pm GMT+7

Hanoi terminates Vinaxuki auto plant project, repurposes land for commercial complex

Hanoi terminates Vinaxuki auto plant project, repurposes land for commercial complex

A long-stalled automotive manufacturing project by Xuan Kien Auto JSC (Vinaxuki) has been officially terminated by Hanoi authorities, and the reclaimed land in Phuc Thinh commune will be repurposed for a new commercial and service complex.

Industries - Tue, September 16, 2025 | 2:44 pm GMT+7

Central Vietnam province reviews investment proposal for thermal power project after Thai EGATi pullout

Central Vietnam province reviews investment proposal for thermal power project after Thai EGATi pullout

Authorities in the central province of Quang Tri are evaluating a proposal from Power Generation JSC 1 (EVNGENCO 1), a subsidiary of state utility Vietnam Electricity (EVN), to take over the Quang Tri thermal power plant project, following the withdrawal of Thai investor EGATi.

Energy - Tue, September 16, 2025 | 1:44 pm GMT+7

Amata to sell stakes worth $46 mln in Vietnam units to Novaland-tied buyers

Amata to sell stakes worth $46 mln in Vietnam units to Novaland-tied buyers

Amata VN, the Vietnam arm of Thailand’s leading industrial park developer Amata, has approved a plan for its subsidiary Amata City Long Thanh Urban JSC (ACLT) to sell its remaining 51% stakes in two entities to local developer Novaland-linked buyers.

Real Estate - Tue, September 16, 2025 | 12:19 pm GMT+7

Vietnam already meets FTSE's criteria for stock market status upgrade: Finance Minister

Vietnam already meets FTSE's criteria for stock market status upgrade: Finance Minister

Vietnam has fulfilled the criteria for a stock market status upgrade by FTSE Russell through reforms aimed at facilitating foreign investment inflows into its market, said Minister of Finance Nguyen Van Thang.

Economy - Tue, September 16, 2025 | 9:36 am GMT+7

Banks should be allowed to distribute, invest in mutual fund certificates: Vietnam's finance ministry

Banks should be allowed to distribute, invest in mutual fund certificates: Vietnam's finance ministry

The Ministry of Finance is proposing a key reform that would allow commercial banks to invest in and distribute mutual fund certificates, as part of a broader plan to restructure the investor base and foster the development of Vietnam’s fund management industry.

Finance - Tue, September 16, 2025 | 8:00 am GMT+7

E-commerce boom a major driver of Vietnam's packaging paper industry growth

E-commerce boom a major driver of Vietnam's packaging paper industry growth

Vietnam's paper packaging industry is entering a period of strong growth, with an average annual growth rate forecasted at 10% until 2030.

Companies - Mon, September 15, 2025 | 10:20 pm GMT+7

Vietnam needs support from UK in developing international financial center: Deputy PM

Vietnam needs support from UK in developing international financial center: Deputy PM

Permanent Deputy Prime Minister Nguyen Hoa Binh has called on the UK and the City of London to continue supporting and accompanying Vietnam in promoting and introducing its international financial center (IFC).

Finance - Mon, September 15, 2025 | 10:12 pm GMT+7

Vietnam enforces 8% capital adequacy ratio for banks from Sept 15

Vietnam enforces 8% capital adequacy ratio for banks from Sept 15

Commercial banks and foreign bank branches in Vietnam must maintain a minimum capital adequacy ratio (CAR) of 8%, including at least 4.5% in Tier 1 core capital and 6% in Tier 1 capital, starting from September 15.

Banking - Mon, September 15, 2025 | 10:04 pm GMT+7

Tool for wood traceability management debuts in Vietnam

Tool for wood traceability management debuts in Vietnam

The Vn-WoodID application has been officially launched in Vietnam, becoming a key tool contributing to wood traceability.

Companies - Mon, September 15, 2025 | 10:00 pm GMT+7

Sun Group, US Embassy foster aviation-hospitality cooperation

Sun Group, US Embassy foster aviation-hospitality cooperation

Sun Group, in collaboration with the US Embassy in Vietnam, hosted the US – Vietnam Aviation Partnership Roundtable on September 12, bringing together 15 leading American corporations in aviation, technology, and financial services, opening up opportunities to position Phu Quoc as a new aviation and tourism hub in the region.

Companies - Mon, September 15, 2025 | 9:54 pm GMT+7

Vietnam tops Thai giant SCG’s overseas markets with 9% revenue contribution in H1

Vietnam tops Thai giant SCG’s overseas markets with 9% revenue contribution in H1

Vietnam remained the largest overseas market for Thailand’s Siam Cement Group (SCG) in the first half of 2025, contributing 9% of consolidated sales.

Companies - Mon, September 15, 2025 | 8:10 pm GMT+7

Central Vietnam to have new airport Mang Den

Central Vietnam to have new airport Mang Den

Procedures to adjust Vietnam's airport system planning, including the addition of Mang Den Airport in central Vietnam, are being proceeded, according to the Ministry of Construction.

Infrastructure - Mon, September 15, 2025 | 5:16 pm GMT+7

Vietnam's government seeks to position country as 'regulated hub for digital assets in Asia': Dragon Capital

Vietnam's government seeks to position country as 'regulated hub for digital assets in Asia': Dragon Capital

The Vietnamese Government has advanced the regulation of digital assets, with a resolution launching a five-year pilot framework for issuance and trading. This framework signals the Government’s intent to position the country as a regulated hub for digital assets in Asia, which could attract new capital inflows, write Dragon Capital analysts.

Economy - Mon, September 15, 2025 | 2:20 pm GMT+7

Agribank introduces sizable $4.17 bln preferential credit package

Agribank introduces sizable $4.17 bln preferential credit package

Right from the beginning of 2025, Agribank launched a substantial preferential credit package worth VND110 trillion ($4.17 billion) to support individual customers.

Companies - Mon, September 15, 2025 | 1:32 pm GMT+7

'Precious space' in Vietnam's monetary policy

'Precious space' in Vietnam's monetary policy

The Federal Reserve's continued cuts in 2025, with the most recent in September, are considered a valuable policy "space" for the State Bank of Vietnam (SBV) to maintain low interest rates to support growth without having to worry too much about exchange rates.

Economy - Mon, September 15, 2025 | 10:15 am GMT+7