THACO proposes 150ha ecological park, central square projects in Ho Chi Minh City

THACO's proposal aligns with the southern hub’s list of projects seeking investment.

According to THACO, the projects aim to create high-quality public spaces that enhance the urban environment, foster a green ecosystem, and support tourism, culture, and social development in Thu Thiem and Ho Chi Minh City at large.

The corporation cited its strong financial standing, experienced project teams, and deep understanding of the Thu Thiem area—gained through previous developments—as factors enabling the successful delivery of these new projects to high standards and in a coordinated manner.

Founded in 1997, THACO began as an automobile manufacturer and assembler in Vietnam.

Over the past 28 years, the company has evolved into a diversified industrial conglomerate with over 77,000 employees and major investments in multiple sectors.

Its member companies operate on a large scale with integrated management, digital transformation initiatives, and active participation in global value chains.

THACO has developed several landmark projects in Thu Thiem through its subsidiary Dai Quang Minh Real Estate Investment Corporation, whose general director is THACO founder and chairman Tran Ba Duong.

These projects include the four main roads in the new urban area, the Sala urban complex, and the cable-stayed Ba Son Bridge – formerly known as the Thu Thiem 2 Bridge.

In alignment with the Politburo’s Resolution 68 and the lawmaking National Assembly’s Resolution 198, which both promote private sector development through special mechanisms, THACO is accelerating its investment plans in Thu Thiem and across Ho Chi Minh City.

In its proposal sent to the Vietnamese government last month, THACO plans to invest approximately US$61.35 billion in the country’s North-South high-speed railway project.

Of the total amount, 20 percent, or about $12.27 billion, will come from the company’s own capital and legally mobilized domestic sources.

THACO will borrow the remaining 80 percent, or around $49.08 billion, from domestic and international credit institutions, requesting the central government to guarantee the loans and subsidize interest rates for 30 years.

In early May, VinSpeed High-Speed Rail Investment and Development JSC, a newly established company under Vietnam’s richest billionaire Pham Nhat Vuong, also announced its registration to invest in the North–South express railway project, with a proposed total investment of over $60 billion.