Thaco Group owned by billionaire Tran Ba Duong is planning to sell 10 percent of shares in Thaco Auto, one of its subsidiaries, in 2023. The automobile manufacturer is expected to be valued at $5 billion.

The Hoang Anh Gia Lai Group (HAGL) of Chairman Doan Nguyen Duc has gradually withdrawn from the fields of business Duc has been dedicated to for a decade. 

Vietnamese manufacturers are taking steps to become the ‘new Detroit of Asia’.

As part of a new package to help the automobile market stay afloat after this year’s global woes, locally-manufactured vehicles will benefit from a massive cut in registration fees, 

Vietnamese automobile manufacturers are cherishing the dream of entering the world market.

Tran Ba Duong, a member of top 10 stock billionaire, president of Thaco, an automobile manufacturer, has joined hands with the ‘King of Catfish’ Duong Ngoc Minh, president of Hung Vuong Group (HVG).

Vietnam's localization rate for passenger cars of under nine seats is 7 - 10%, much lower than the target of 35 - 45% set for the car industry 20 years ago.

Here’s a brief insight into a number of successful local businessmen and businesswomen who were born in 1960, the Year of the Rat.

Thaco’s president spent big money to rescue Hoang Anh Gia Lai, while Vingroup’s president transferred the retail division to Masan to gather strength on automobiles and technology.

Among the incentives, the government is urged to lower the special consumption tax for locally made parts to help them reduce prices to compete with foreign manufacturers.

Truong Hai Auto Corporation (Thaco) has registered to buy five million shares of Hoang Anh Gia Lai Agricultural JSC (HNG).

The fourth dollar billionaire of Vietnam, Tran Ba Duong, will become the developer of a huge real estate project in Myanmar instead of Doan Nguyen Duc, chair of Hoang Anh Gia Lai Group, who is now focusing on agricultural production.

Hoang Anh Gia Lai Agricultural JSC announced the resolution of its Board of Directors to transfer its entire 99.875 per cent in Dong Penh Co., Ltd. to THADI Agriculture Farming Processing & Distribution JSC.

Vietnam has been building up its automobile industry for the last 20 years, but the number of automobiles assembled in Vietnam is far below that of Thailand, Indonesia, Malaysia and the Philippines.

Vietnam once put high hopes on automobile joint ventures, believing that foreign technologies would help develop the automobile industry. However, it now believes that it would be better not to rely on outsiders.

As Thaco’s car sales decreased, the Quang Nam province’s budget revenue suddenly dropped by VND3 trillion. This news has been cited by economists to show the role of large private conglomerates in the economy.

VietNamNet Bridge - A lot of Vietnamese have become rich not because of legitimate production and business, but from corruption, tax evasion and illegal activities, experts say.

Tran Ba Duong, a big shareholder of Thaco, a manufacturer, the largest privately run conglomerate, could be on a par with Pham Nhat Vuong and Trinh Van Quyet, the richest billionaires, if Thaco shares are listed on the bourse.

Thaco, a 100 percent Vietnamese automobile manufacturer, has begun exporting spare bus parts to Russia, but experts have warned that it will have to compete with Chinese enterprises.