The THACO Industrial Park Project, a major investment valued at approximately US $1.4 billion, is moving forward as part of Vietnam’s strategic push to expand its industrial base and strengthen domestic manufacturing capacity. The development will drive economic growth, create significant employment opportunities, and enhance Vietnam’s role as a competitive production hub in Southeast Asia. This momentum is also being matched by major urban-scale investments in Ho Chi Minh City, including Vingroup’s newly launched International University Urban Area project, a US$2.27 billion development designed to anchor education-led growth while expanding residential, commercial, and institutional infrastructure in one of Vietnam’s fastest-growing corridors.

The industrial park, led by Truong Hai Auto Corporation (THACO), one of Vietnam’s largest integrated industrial groups, is expected to become a pivotal element in supporting the country’s manufacturing, logistics, and export sectors.

Project Overview and Strategic Significance

The THACO Industrial Park Project is designed to establish a modern, multi-sector industrial ecosystem that supports a range of key industries, including automotive manufacturing, precision engineering, logistics, and supporting services.

The development aims to:

• Expand production capacity for automotive and industrial goods
• Attract foreign and domestic investment into high-value manufacturing
• Improve logistics and supply chain integration within the region
• Generate long-term employment and enhance workforce skills
• Support Vietnam’s export competitiveness in global markets

The park is expected to position Vietnam as a preferred destination for industrial operations, leveraging its strategic location in Southeast Asia and a rapidly developing infrastructure network.

Project Team — Companies and Stakeholders Involved

• Project Developer / Lead Investor: Truong Hai Auto Corporation (THACO)
• Government Partner: People’s Committee of the province hosting the industrial park

Why the THACO Industrial Park Project Matters

Vietnam’s industrialisation drive has accelerated in recent years, supported by competitive labour markets, strategic trade agreements, and expanding foreign direct investment. The THACO Industrial Park Project aligns with national economic policy priorities, including:

Economic Diversification: Supporting growth beyond traditional agriculture and services by building out advanced manufacturing capabilities.

Supply Chain Integration: Creating integrated logistics networks that connect production facilities with ports, inland freight corridors, and export nodes.

Job Creation: Delivering substantial employment opportunities across manufacturing, engineering, supply chain, and professional services sectors.

Regional Competitiveness: Enhancing Vietnam’s position as a manufacturing hub competitive with neighbouring economies in ASEAN.

This project reinforces confidence among global investors seeking diversified production bases outside traditional supply chain centres.

Industrial Trends and Regional Context

The THACO Industrial Park parallels major industrial developments across Southeast Asia:

• Expansion of automotive manufacturing clusters in Thailand and Indonesia
• Integrated logistics parks supporting export-oriented industries in Malaysia and Vietnam
• Technology parks and precision production facilities linked to electronics supply chains

Such investment ecosystems reflect broader trends in global manufacturing relocation, supply chain resilience, and near-shoring strategies by multinational firms.

Outlook and Future Development

As the THACO Industrial Park Project moves from planning toward execution, key upcoming milestones include:

• Finalisation of master planning and site design
• Announcement and awarding of construction and infrastructure contracts
• Phased utility and logistics build-out, including road, power, and water integration
• Operational readiness planning for tenant onboarding and manufacturing activation

The phased nature of industrial park delivery will allow THACO and its partners to scale facilities in alignment with industry demand and investment flows.

Reported 13th Feb 2025: Plans for a US$1.4 billion industrial park in Vietnam have been unveiled by THACO. The park will span an area of 700 hectares and was announced earlier this week by the chairman of the Board of Directors of THACO during a meeting held with the Prime Minister Pham Minh Chinh. Additionally, there were representatives of 26 leading state-owned and private enterprises present at the meeting in Hanoi. In 2022, THACO and Binh Duong People’s Committee signed an MoU that was supposed to implement the project. The company is the largest corporation in the country that specializes in mechanical engineering and supporting industries such as agricultural equipment, industrial equipment, and semi-trailers.

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Details on the THACO Industrial Park

The park is aimed at small and medium-sized enterprises especially however, it will be open to all partners. It has been established based on mutual support for common development of Binh Duong’s business communities. THACO Industries is the arm of the company that supports the mechanical sector. At themoment, it operates 19 manufacturing facilities and R&D and testing centres in the Chu Lai Economic Zone in the central province of Quang Nam. 

Project Overview

Location: Hanoi, Vietnam

Project scope: 700 hectares

Developers: THACO Group

Project cost: US$1.4 billion

More on THACO Industries

During the meeting, the prime minister called on private enterprises to serve as pioneers in innovation, digital transformation, development and application of science and technology. Additionally, to contribute more to the implementation of the three strategic breakthroughs; infrastructure, institutions and workers. Earlier this month, Thaco also inaugurated a series of major projects. These include further expanding its industrial ecosystem in the central province of Quang Nam. Furthermore, the company launched a new 50,000-DWT berth at Chu Lai International Port. The berth is intended to expand the total length of the port by 365 meters to 836 meters. It is designed to accommodate general cargo and container ships with capacities of up to 50,000 DWT, addressing the region’s growing export demand.

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