THACO Sub-holdings hold business plan conferences for second half of 2023

From July 19 to 22, THACO Sub-holdings, i.e. THILOGI, THACO INDUSTRIES, THADICO, THISO and Thiso Retail held their business plan conferences for the second half of 2023. THACO Chairman Tran Ba Duong attended the events and gave his directions.

The conferences mainly reported the strategies, business and governance plans of the Sub-holdings in the last 6 months of 2023. In his opening remarks, THACO Chairman emphasized the key importance of this conference, in which he explained it was not a simple periodic company activity when the first 6 months ended, but shall be considered an important company meeting to seek new business solutions in new development phases.

THILOGI to promote the coordination role in increasing countertrade to save costs

On July 19, THILOGI held its 2023 second-half business plan conference with different focuses, i.e. developing Chu Lai Port into a specialized container port in Central Vietnam, an international transshipment hub which connects to the Central Highlands in Vietnam, Laos, Cambodia, as well as Southern and Northern Vietnam, cooperating with international and domestic shipping lines to diversify shipping routes, developing forwarding and shipping services, planning road logistics network and arranging transport vehicles suitable to each road for optimal outcomes, applying countertrade transport for diverse types of goods, improving the quality of full-package logistics services, meeting the increasing import and export demands.

At the conference, THACO Chairman Tran Ba Duong pointed out, THILOGI should clarify the plan in a more detailed fashion, in which the logistics corporation played the role in setting targets and orientations, focusing on improving the countertrade transport to reduce costs. He also stressed the need to strengthen full-package logistics services and to increase external goods volumes in near future, improving service quality, developing facilities comprehensively from terminals to warehouses, container yards, in which the construction must be well planned so that the business operations will not be disturbed and interrupted.

Regarding HR development, the THACO Chairman stressed on the need to build staff that both exhibit THACO qualities and have excellent expertise in logistics. In his opinions, being able to combine these two factors will create great values. Each employee must train themselves constantly to improve professionally and their management competence to meet job requirements. He also stressed the necessity of KPI implementation throughout the corporation to improve everyone's performance, reinforcing the culture of industrialism and work equality, ensuring reasonable incomes for employees.

THACO INDUSTRIES to support other sub-holdings with products and workforce for mutual development

On July 20, in its 2023 second-half plan conference, THACO INDUSTRIES pointed out its main goals: expanding the scale of mechanics and supporting industries in Chu Lai, establishing large-scale mechanical industrial parks in Southern and Northern Vietnam to meet domestic and export needs, developing new investment projects to boost competitiveness, revenues and profits, upgrading management in a comprehensive way which ensures systematic and logical approaches, enhancing the corporate function departments' roles in advising, training and supervising production and business operations, applying KPIs to promote improvement, productivity and motivation among staff.

At the end of the conference, THACO Chairman Tran Ba Duong urged that THACO INDUSTRIES needed to focus on upgrading its governance. The work to be done right now is to evaluate and adjust the organization structure, build a management model that fits its current business model from the Sub-holding to divisions or subsidiaries, reevaluate its current KPI implementation, e.g. measuring relevant KPIs at each level, describing responsibilities in KPI management and so on, build elaborate production and business plans, review, design, and upgrade factories and production lines, change technology, optimize machines and equipment to meet production requirements when orders go up. The corporation is also responsible for supporting other Sub-holdings, especially in agriculture, automobile, logistics... in terms of mechanical products and human resources for mutual development.

According to the THACO Chairman, THACO INDUSTRIES and subsidiaries are to review and adjust business plans in line with reality and give concrete tasks to each employee so they can better understand the operations of the company to align their work practice accordingly.

In terms of people development, he stressed that each employee should have their own goals and responsibilities to create traction, embrace can-do spirit and self-learning to improve competence and create real values. On the other hand, senior executives must understand their responsibilities and those of their departments and units, workflows and improve their management competence in general and specialized operations, build KPIs to increase productivity and efficiency.

Thiso Retail to promote cooperation with THACO's Sub-holdings

On July 22, Thiso Retail held its 2023 second-half business plan conference to announce the main goals, including opening Emart Phan Huy Ich, increasing revenues, improving the competitiveness of its business areas and planning new projects.

At the conference, THACO Chairman Tran Ba Duong directed, "THISO and Thiso Retail need to promote effective bilateral cooperation and clarify the roles and responsibilities of the Sub-holding and subsidiaries. On the other hands, the two should develop partnership with other THACO Sub-holdings to expand the retail business."

Regarding human resources, THACO Chairman requested Thiso Retail to pay more attention to the vulnerable workforce such as cashiers, cleaners, security guards, etc., by drawing out plans to raise their incomes and to ensure fair and transparent management. The Chairman also stressed the importance of business ethics, especially in fresh foods. He lastly added the need to focus on training and innovation in workspace.

THADICO and THISO to upgrade governance in accordance with new reality

On July 22, THADICO and THISO together held their conference to come up with the key goals, in which THADICO embraces rapid changes to adjust strategy accordingly, while upgrading governance in line with reality, meanwhile, THISO is to develop resources and complete its management mechanism, receive and put into operation transferred commercial real estate properties by the end of 2023.

In the conference, THACO Chairman Tran Ba Duong pointed out their mission in HR development, saying, “Leaders shall discuss and give feedback on a regular basis for their junior's development. You should also make sensible job arrangements and evaluations depending on which levels, potential staff and managerial executives, and strictly follow the HR strategy at THADICO and THISO."

He emphasized, “The values that we are aspiring must be created from efforts, wisdom, training, learning and even self-development. Therefore, to start a new journey requires a new mindset from THADICO, THISO, from each and every one of you, and first of all, the leadership team, all should embrace the mindset of "creating true values."