On August 3, state officials and entrepreneurs from California (CA), a U.S. state, led by Ms. Sheng Thao, Mayor of Oakland City paid a visit to Quang Nam province and THACO Chu Lai Industrial Park.

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Welcoming the American guests were Mr. Ho Quang Buu, Vice Chairman of Quang Nam Provincial People's Committee and THACO President Pham Van Tai. During the meeting, leaders of both sides discussed investment cooperation outlooks and opportunities for joint ventures in the coming time.

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Ms. Sheng Thao expressed her honor and excitement visiting the THACO Chu Lai Industrial Park. According to the Oakland city mayor, this trip was an opportunity to learn, connect and diversify investment cooperation between Oakland City and Vietnamese localities and businesses. She also expressed the wishes to cooperate with Quang Nam province in port developments, import and export, clean energy, etc. to achieve digitization, modernization, and respond to climate change.

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Mr. Ho Quang Buu, the Vice Chairman of Quang Nam Provincial People's Committee hoped that in the coming time, the government and businesses in Oakland city (CA) in particular, and the U.S. in general would open more investment projects in the central Vietnam province. He added that Quang Nam provincial authorities would stay committed to giving support and creating favorable conditions for investors to develop their projects in the province, boosting the economic development of the two countries, two localities and business communities on both sides.

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THACO President Pham Van Tai introduced THACO’s multi-industry business model and scale. Especially, in mechanical engineering and supporting industries, THACO has been developing large-scaled specialized integrated industrial parks which have been producing products for the domestic market and expanding its presence in global supply chains.

According to the THACO leader, over the years, THACO INDUSTRIES, its mechanical sub-holding has exported many products to the world market, in which America has been the key market. In 2022, the revenue reached nearly $220 million, including $150 million from exports to the U.S. In 2023, the corporation expects to generate revenue around $350 million, in which $180 million from the U.S. Its main exports are semi-trailers, mechanical machines, parts and components for automobiles and other industries.

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The visit was a great opportunity for THACO and THACO INDUSTRIES to exchange and strengthen cooperation with businesses in Oakland City and the San Francisco Bay area in different fields, especially mechanical manufacturing and supporting industries, semi-trailers, supply chains and industrial equipment.

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At the end of the meeting, Mr. Do Minh Tam, the THACO INDUSTRIES President signed the MOUs with the American delegates, one with Port of Oakland in providing port equipment and machines and using the port's import services, and the other with California Waste Solutions Company in making and supplying products and equipment for the recycling industry.