Hue, FUTA Group and Kim Long Motor team up to build modern heritage-industrial urban area
VGP - The Hue City People’s Committee, Phuong Trang Group Joint Stock Company (FUTA Group), and Kim Long Motor Hue Joint Stock Company signed a Memorandum of Understanding on strategic cooperation (MoU).
The MoU was signed within the framework of the seminar “Green transition and breakthroughs in industrial investment attraction” in the central city of Hue on September 21.
Mr. Truong Dinh Trung – Member of the Board of Directors of Phuong Trang Group; Mr. Phan Quy Phuong – Vice Chairman of the Hue City People’s Committee; and Mr. Dao Viet Anh – General Director of Kim Long Motor Hue sign the cooperation agreement in Hue City, September 19, 2025
Under the MoU, the three sides set out specific goals and jointly committed to leveraging the potential and strengths of Hue City and its Chan May–Lang Co Economic Zone, promoting urban development and industrial projects, transport infrastructure, seaports, public transportation, and other sustainable fields.
The long-term vision of this partnership is to transform Hue into a regional hub for heritage, culture, tourism, and economic growth, while positioning Chan May–Lang Co as a major national center for automobile manufacturing, components, supporting industries, and export of premium “Made in Vietnam” products.
The long-term goal of this partnership is to transform Hue into a regional hub for heritage, culture, tourism and economic growth, while positioning Chan May–Lang Co as one of the country's major centers for automobile manufacturing, spare parts, and supporting industries, with a vision of exporting premium "Made in Viet Nam" products.
Hue- a national hub for automobile manufacturing through FUTA – Kim Long Motor cooperation
The MoU outlines a comprehensive roadmap to promote the development of Hue City, focusing on three core areas:
Firstly, urban real estate projects: Conduct studies and propose projects such as the Chan May Administrative and Financial Center and the Lang Co – Lap An Lagoon Urban–Commercial Service Complex, alongside infrastructure upgrades in the Lang Co area.
The three parties will also invest in building affordable housing projects, thereby promoting sustainable social welfare in Hue City, especially in areas serving the expanding automotive industrial zone.
Secondly, transport infrastructure and public transportation: Collaborate in research and development of urban monorail lines, including routes from the city center to Phu Bai, from Phu Bai to Chan May–Lang Co, a riverside route along the Huong River, routes to heritage sites, and inter-regional lines in accordance with the city's development orientations. The three parties will also cooperate in developing an electric bus system for Hue City, beginning with pilot routes transporting students and tourists in certain tourism zones.
Thirdly, industry and manufacturing: Develop industrial complexes such as an automobile manufacturing and supporting industry complex; team up with partners to develop green steel production, LNG power plants, and utilize Chan May deep-water seaport infrastructure, along with other projects that align with Hue City's investment attraction criteria.
The Hue City People's Committee pledged to create favorable conditions in both legal and administrative procedure aspects for the implementation of the aforesaid projects in compliance with the law and the city's development orientations.
This signing ceremony is expected to open up new investment opportunities while contributing to shaping a growth model for Hue City, where green industrial development is combined with preservation of heritages and promotion of rapid and sustainable growth./.
