Truong Hai Automobile Company (Thaco) has inaugurated an agricultural machinery manufacturing plant in the Chu Lai-Truong Hai Industrial Complex in the central province of Quang 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-Viet 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 Viet 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 Viet Nam to create a value chain in the agricultural machinery industry.

The LS Group has two LS cable and system factories in Dong Nai and Hai Phong and LS Mtron has an electronic components factory in Bac Ninh Province.

Meanwhile, Thaco and other partners have invested VND7.8 trillion (US$345 million) in an agriculture production project in the north of Viet 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