A corner of Hue City.
On September 19th, the People’s Committee of Hue City, Phuong Trang Investment Corporation (FUTA Group), and Kim Long Motor Hue JSC signed a Memorandum of Understanding (MoU) for strategic cooperation in developing a heritage-industrial modern urban area.
The three parties outlined specific goals and committed to leveraging the potential and strengths of Hue City and the Chan May – Lang Co Economic Zone. This includes promoting projects in urban development, industry, transportation infrastructure, seaports, public transport, and sustainable sectors.
The long-term goal is to transform Hue into a heritage, cultural, and tourism urban center, as well as a regional economic hub. Chan May – Lang Co is envisioned as a major center for automobile manufacturing, auto parts, supporting industries, and the export of high-quality “Made in Vietnam” products.
The MoU outlines a comprehensive roadmap focused on three core areas.
First, researching and proposing the Chan May Administrative and Financial Urban Area project, and the Lang Co – Lap An Lagoon Urban-Commercial Complex, alongside infrastructure upgrades in the Lang Co area. Additionally, the parties will collaborate on developing affordable housing for low-income earners, contributing to sustainable social welfare in Hue, particularly in areas serving large-scale automobile industries.
Second, jointly studying and implementing monorail routes: Hue City – Phu Bai, Phu Bai – Chan May Lang Co, along the Huong River, to heritage sites, and inter-regional routes under suitable investment models. This includes developing an electric bus system for Hue City, starting with pilot routes for students and tourists at select attractions.
Finally, developing automobile manufacturing and supporting industrial complexes, partnering with stakeholders in green steel production, LNG power plants, and leveraging the deep-water seaport infrastructure at Chan May. These projects align with Hue’s investment attraction criteria.
Chan May – Lang Co Economic Zone.
The People’s Committee of Hue City pledged to facilitate legal and administrative procedures, ensuring compliance with regulations and the city’s new development direction.
This event is expected to unlock new investment opportunities and shape a green industrial development model that preserves heritage values, fostering rapid and sustainable growth for Hue City.
Established in 2003, Phuong Trang Investment Corporation (FUTA Group) is renowned in transportation with its Phuong Trang passenger bus brand. Since 2010, the group has expanded into real estate in Ho Chi Minh City and Da Nang, with projects like New Pearl, The Landmark City, Han Riverview, and Phuong Trang Coastal Eco-Urban Area.
Founded in 2017, Kim Long Motor Hue specializes in manufacturing, assembling auto parts, and investing in industrial infrastructure. The company has developed a 600-hectare automobile production and assembly industrial park in Hue (Phase 1).
From January 1, 2025, Hue officially becomes a centrally governed city, marking a significant milestone in its development.
With an area of over 4,947 km² and a population exceeding 1.2 million, Hue is Vietnam’s sixth centrally governed city and the youngest among them.
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