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Dear Mr. Nguyen Xuan Phuc, Politburo Member, Prime Minister of the Socialist Republic of Vietnam,
Dear leaders and former leaders of the Party and State,
Dear distinguished guests,

First, on behalf of Truong Hai Auto Corporation employees, let me extend my most respectful good health wishes and greetings to the Prime Minister, and the leaders of the Party, State, Ministries, and Departments from Central and Quang Nam Province, as well as the delegates and reporters participating in the groundbreaking ceremony of extended Chu Lai – Truong Hai Auto Machinery Industrial Park and two routes linking Tam Hiep port to the highway and the Industrial Park.
Dear Leaders and distinguished guests!

On 03 December 2002, the Prime Minister signed Decision "Approval of the auto industry development strategies to 2010, vision to 2020 with the goals: "To develop Vietnam auto industry on the basis of learning and applying the world advanced technologies, satisfying most of the domestic car demands, and aiming to auto and auto parts exports". And to embrace the investment development program of Quang Nam provincial People's Committee, THACO has invested in Chu Lai Open Economic Zone since 2003. Up till now, a Complex has been formed with the area of 400 ha, including: 24 auto, spare part, and component production and assembling factories with modern equipment lines which are transferred from European, Japanese, South Korean ... partners; Vocational College trains vocational technicians and engineers, ports and warehouses on an area of 173 ha, two 10-thousand-ton vessels, with a total investment to date mounting to nearly 28,000 billion VND and almost 8,000 personnel, including: engineers, technicians, skilled and fundamentally trained workforces.

From 2014, THACO has risen to the top position in Vietnam market and in 2015, it continued to lead with total car sales of 80,421 vehicles including 36,300 trucks; 1,908 buses, and 42,213 Kia, Mazda, Peugeot passenger cars, leading the country, accounting for 38.6% of Vietnam Automobile Manufacturers' Association market share. Total consolidated revenue reached 45,800 billion VND, equivalent to 2 billion USD, from production and assembling, shipping and forwarding to distribution, retail operations, and after-sales service. Total contribution to the national budget in 2015 was 13,856 billion VND, in which contribution to Quang Nam province was 10,096 billion VND.

In 2016, THACO sets its target of 112,336 vehicles, among which there are 62,083 Passenger cars, accounting for over 28% of the market share and leading the car market in Vietnam. Trucks and Buses: 50,253 cars, accounting for 45% of the market share. Total consolidated revenue is 71,735 billion VND or 3 billion USD, total contribution to the national budget is 20,018 billion VND, in which contribution to Quang Nam Province is 15,178 billion VND. The above results have brought THACO to become the leading company in the automotive industry and the largest private enterprise of Vietnam in terms of total assets, capital, revenue, and profits.

Dear Leaders and distinguished guests,

On 16 July 2014, the Prime Minister continued to approve Vietnam automobile industry development strategy to 2025 and vision to 2035 according to Decision No. 1168/QD-TTg with the objectives being: "To build Vietnam automotive industry as an important industry to meet domestic market demand, participate in exports and create motivation for the development of other industries". On the other hand, in terms of ASEAN regional integration roadmap with auto import tariffs 0% in 2018, THACO has the orientation: “Develop THACO as a diversified industrial conglomerate which takes auto production & sales as its mainstream and a Vietnam enterprise leading the ASEAN region" with the 2018 sales target of over 150 thousand vehicles, and total revenue of 95 trillion VND. Especially, THACO will invest in developing Chu Lai - Truong Hai Auto Machinery Industrial Park on par with ASEAN level through joint venture and cooperation with partners having the right technology to create products that meet international standards and participation in the global value chain.
Today, having the permission from the leaders of the Central, Quang Nam provincial People’s Committee, THACO solemnly organized the groundbreaking ceremony of 210 ha extended Chu Lai – Truong Hai Auto Machinery Industrial Park and two routes linking Tam Hiep port to the Danang – Quang Nam highway and the Industrial Park. THACO will urgently build and put into operation these factories in 2018: new car plant with laser welding technology and the most advanced coating technology, with capacity of 100,000 vehicles/year; new truck plant with the capacity of over 100,000 vehicles/year, bus plant with 5,000 buses/year and 10,000 12-to-16-seat mini buses/year; and develop supporting industrial factories cluster by linking the small and medium domestic enterprises with overseas component producers to supply to the assembling factories for better localization rate. By then, engines and machines are produced to serve agri in order to develop Chu Lai as a multi-purpose machinery center in central Vietnam as per the approved automobile industry development strategy. At the same time, Chu Lai - Truong Hai port will be expanded with direct sea transport routes from South Korea, Japan, and China to Chu Lai to reduce shipping costs, save time, and improve logistics capacity for the Central. Tam Hiep urban area will be constructed on an area of 265 ha with full social utilities such as housing, schools, and supermarkets to attract personnel working in Chu Lai - Truong Hai Auto Machinery Industrial Park in particular and Chu Lai Open Economic Zone in general. Total capital investment that THACO directly invests for this phase is 20,372 billion VND, while partner companies contribute 10,000 billion VND.

THACO commits to focus all resources to deploy and complete the project according to the planned schedule, not only with the financial resources having been prepared, but also with the willpower, courage and devotion of all THACO officials and employees and myself under the philosophy of emphasis on contribution to the economic development and devotion to the country to deserve to be a major enterprise and brand of Vietnam.
Beginning as a small enterprise, over 12 years of investment in Chu Lai, THACO can achieve the current accomplishments due to the attention and directions from the Government and the central ministries, the accompaniment and assistance of Quang Nam province. On this occasion, please let me extend my deep gratitude to the Leaders of the Party, State, the Ministries, and Departments from the central and Quang Nam Province. Especially, I heartily feel grateful to Prime Minister Nguyen Xuan Phuc for his encouragement to THACO to invest in Chu Lai when he was a leader in Quang Nam Province and his encouragement during THACO's development over the past years. I also would like to send my gratitude to Mr. Vu Ngoc Hoang - Former deputy director of Central Department of Propaganda and Training - former party secretary of Quang Nam Province, Mr. Nguyen Duc Hai, Central Party Executive Committee member - Chairman of Committee for National Economy and Budget - Former party secretary of Quang Nam Province, and Mr. Le Phuoc Nguyen, former party secretary of Quang Nam Province for their facilitation of THACO's development.
Wishing you all good health and success.

THACO Chairman

Tran Ba Duong