Economy
Việt Nam promotes coconut exports, enhances industry value
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| A machinery manufacturing factory at the Chu Lai-Trường Hải Industrial Complex in Quảng Nam. Local Thaco and Korean company LS Mtron have inaugurated an agricultural machinery manufacturing plant in the province. — VNS Photo Công Thành |
Viet Nam News
QUẢNG NAM — Trường Hải Automobile Company (Thaco) has inaugurated an agricultural machinery manufacturing plant in the Chu Lai-Trường Hải Industrial Complex in the central province of Quảng Nam.
The plant, which took one year to complete, has been built in collaboration with Korean company LS Mtron.
Thaco said the manufacturing plant, which was built under a cooperation agreement signed in 2017, aimed to provide made-in-Việt Nam agricultural machinery with a 50 per cent localisation programme for domestic use as well as for exports to ASEAN markets.
As planned, Thaco will be the exclusive agent of LS Group’s farming machinery’s distribution and production in Việt Nam under its own trademark from 2018.
Thaco and LS Mtron under the LS Group in Korea plans to speed up mechanisation of farming in Việt Nam to create a value chain in the agricultural machinery industry.
The LS Group has two LS cable and system factories in Đồng Nai and Hải Phòng and LS Mtron has an electronic components factory in Bắc Ninh Province.
Meanwhile, Thaco and other partners have invested VNĐ7.8 trillion (US$345 million) in an agriculture production project in the north of Việt Nam.
Thaco has manufactured and distributed vehicles of foreign brands – Kia of South Korea, Mazda of Japan, France’s Peugeot and BWM of Germany. — VNS
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