THACO Group asked to boost investment and business activities in Cambodia

A delegation of the Vietnamese National Assembly (NA) and the Cambodian NA and Senate visited THACO Group in the central province of Quang Nam on December 24.
Parliamentarians of Vietnam, Cambodia visit THACO Group | Business | Vietnam+ (VietnamPlus)
The delegation of Vietnamese and Cambodian parliamentarians visit a factory of THACO Group in Quang Nam province on December 24. (Photo: VNA)

The working visit was part of an experience sharing programme between the two parliaments.

Founded in 1997, THACO has developed from an automobile trading and repair company into an industrial conglomerate operating in six industries, namely automobile, agriculture, mechanics and supporting industry, investment and construction, trade and services, and logistics.

In Cambodia, it has purchased some companies to form agricultural complexes with a view to converting poor-performing agricultural projects into large-scale, mechanised, circular, and organic ones. As of 2022, it has invested 717 million USD in 15,000ha of fruit farming.

Talking to the Vietnamese and Cambodian officials, THACO leaders said the business has joined hands with localities of Cambodia in fighting COVID-19 and providing assistance for Vietnamese people in the country. Besides, it has also helped build roads and technical infrastructure, ensure social security, and develop education in the localities accommodating its projects.

Vice Chairman of the Vietnamese NA Nguyen Duc Hai highly valued THACO’s investment in Cambodia over the last five years and attributed its achievements partly to the support from Cambodian authorities and people, especially in the provinces housing its projects.

He called on Cambodia to continue support for Vietnamese enterprises operating in the country and increase investment chances for other firms. He also asked THACO to boost investment and business activities there, not only in agriculture but also other fields it is strong at such as mechanics, manufacturing, and logistics.

Hai affirmed that effective activities by businesses, including THACO, have helped promote bilateral economic, trade, and investment partnerships, thus contributing to the good neighbourliness, traditional friendship, comprehensive cooperation, and long-term sustainability between the two countries.

Men Sam An, Cambodian Deputy Prime Minister, Minister of the NA - Senate Relations and Inspection, and Chairwoman of the Cambodia - Vietnam Friendship Parliamentarians' Group, applauded THACO’s investment projects in her country which have helped develop modern and large-scale agriculture as well as infrastructure in Cambodia.

She stated that Cambodia always welcomes and creates favourable conditions for Vietnamese firms, including THACO, to operate and expand investment to more fields so as to help strengthen the countries’ all-round cooperation.

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(Source: VNA)