Thua Thien-Hue becomes new attractive destination for investors
Nestled in a strategically significant position in the central key economic zone, Thua Thien-Hue serves as a vital gateway to the sea of the East-West Economic Corridor linking northern Thailand, southern Laos and central Vietnam. With concerted efforts to enhance its transportation infrastructure, streamline administrative procedures, and improve workforce training quality in recent years, this province is rapidly emerging as an attractive destination for both domestic and foreign investors.
Latest
 |
| Automobile manufacturing at Kim Long Motor Hue Automobile Manufacturing and Assembly Industrial Park. (Source: VNA) |
Aiming for the status of a centrally-run city, Thua Thien-Hue has been launching various key transportation projects that promise to transform its connectivity. In 2023, the T2 passenger terminal at Phu Bai international airport, with a nearly 2.3 trillion VND (92 million USD) investment, officially opened its door, boasting a designed capacity of 5 million passengers per year.
By early 2025, two major projects - a coastal road and the Thuan An sea crossing bridge, spanning nearly 8km and costing 2.4 trillion VND, and the Nguyen Hoang road and Huong river bridge, part of Ring Road 3 with an initial investment of more than 1.855 trillion VND - are set to complete. Additionally, the second phase of a wave-dissipation dyke project at Chan May deep-water port, with a total investment of 757 billion VND, is underway. The province is courting investments in infrastructure for berths 4, 5, and 6 along with storage facilities, to establish a logistics centre that will improve service quality and competitiveness of this seaport.
Tran Cong Thich Vuong, Deputy Director of the provincial Department of Planning and Investment, underlined the province’s commitment to pooling investments in hi-tech industries, electronics, semiconductor, telecommunications equipment, and new material industries. Priority will be given to developing certain sectors such as export-oriented consumer goods, beverages and metallurgy linked to the seaport, electricity production from green energy sources, all aimed at fostering a green urban environment and sustainable industrial zones.
At present, Thua Thien-Hue is home to six industrial parks, hosting 109 active projects and 48 projects under development, along with several small industrial clusters. The Chan May-Lang Co Economic Zone, with a “prime” geographic location connecting to Da Nang via the Hai Van road tunnel, a natural deep-sea port, a system of lagoons and stunning coastal bays renowned worldwide, is a key asset. Covering about 27,108 ha, the economic zone has five main functional areas, including a port area, an industrial zone, a non-tariff area, an urban area, and a tourism zone. To date, it has basically completed primary transportation routes and has a wastewater treatment system with a capacity of 10,000 cb.m per day, along with a solid waste treatment facility.
Nguyen Van Phuong, Chairman of the provincial People's Committee, made it clear that the province will not endorse environmentally polluting industries and projects reliant on unskilled labour. Instead, the focus is on sustainable development scenarios targeting hi-tech manufacturing. By investing in infrastructure and creating a pro-business environment, it aims to draw key players capable of leading and driving the development of supporting industries in designated areas, he said.
A recent highlight in this development plan is the groundbreaking of the Kim Long Hue engine manufacturing and assembling plant at the Chan May-Lang Co Economic Zone. This project, part of the Kim Long Motors Hue Industrial Park, spans 600ha and represents a total investment of 260 million USD. Scheduled to become operational in the second quarter of 2025, the plant will feature an impressive automation level of up to 90%, marking a major leap forward for local industry.
The Kim Long Motor Hue Industrial Park - a key project has basically completed its first phase. Since February this year, the Kim Long Motor Hue JSC has produced sleeper buses, seated buses, city buses, and minibuses. Building on initial successes, the investor is preparing documentation to increase its total investment capital to approximately 21 trillion VND (830.04 million USD).
According to Ly Quoc Viet, permanent deputy general director of the company, the decision to invest in a large-scale automotive manufacturing and assembling project in Thua Thien – Hue reflects Kim Long Motor's aspiration to establish a foundation for local high-tech industrial development. The aim is to bring new industrial vibrancy to the land of the ancient capital, known for its long-standing history and culture. The industrial park is envisioned to become a leading regional centre for vehicle and auto parts production, targeting a localisation rate exceeding 90% by the second quarter of 2026.
Thua Thien Hue is one of Vietnam's major tourism hubs, featuring the ancient capital of Hue, rich traditional cultural identities and six UNESCO-recognised cultural heritage sites. The province boasts stunning natural landscapes, including the Tam Giang - Cau Hai brackish-water lagoon system – the largest of its kind in Southeast Asia with nearly 22,000 ha of water surface, Bach Ma National Park, Lap An Lagoon, and Lang Co Bay – a member of the Club of the Most Beautiful Bays of the World. Each year, millions of travellers, both domestic and international, flock to Thua Thien – Hue for sightseeing and relaxation. As the province actively seeks tourism investments, it stands on the brink of unlocking a wealth of untapped potential. Recently, the 169.67-million-USD Aeon Mall Hue, Japanese giant Aeon Mall’s largest retail and service centre in central Vietnam to date, officially opened, catering to the shopping needs of locals and tourists alike.
(Source: VNA)
