 |
| The Investment, Trade and Business Support Center signs a memorandum of understanding with the Korea Overseas Infrastructure & Urban Development Corporation |
Effectiveness of cooperation agreements
In 2021, amid the COVID-19 pandemic, the People’s Committee of Thua Thien Hue Province (now Hue City) signed an MoU with AEON Mall Vietnam Co., Ltd. Under the agreement, Hue City committed to supporting the implementation of legal procedures for the project, ensuring the fastest and simplest administrative processing, and applying investment incentives and support policies in accordance with current regulations. AEON Mall Vietnam, in turn, committed to investing in an AEON Mall shopping center in Hue, contributing to improving the quality of commercial services in the area.
Following the signing, both the company’s investment activities and the city’s support were implemented rapidly. As a result, the AEON Mall Hue project broke ground in February 2023 and was put into operation less than two years later, in September 2024. It is evident that the MoU laid the first “building blocks” for cooperation between the city and AEON Mall Vietnam, opening up opportunities to attract other investors to Hue.
Along with the city, the Investment, Trade and Business Support Center (the Center) has also regularly incorporated the signing of cooperation agreements with enterprises and partners at conferences, forums, and investment promotion programs. At these signing events, the Center commits to facilitating businesses’ access to project information, supporting investment research in the locality, expanding international cooperation networks, and attracting investors to explore opportunities in Hue. This is seen as an important step, marking a shift from connection and promotion of investment opportunities toward establishing more concrete cooperative relationships.
In 2025 alone, the Center signed three major cooperation agreements with enterprises, business associations, and organizations from various countries. Notably, in August 2025, the Center signed an MoU with the Korea Overseas Infrastructure & Urban Development Corporation. The agreement aims to promote sustainable development orientations, contribute to economic growth, and strengthen bilateral cooperation between Vietnam and South Korea. Under the agreement, both sides will explore and coordinate information exchange and connectivity in areas such as sustainable urban development, infrastructure, environmentally friendly industry, trade and investment promotion, science and technology, culture, tourism, high-tech agriculture, and other sustainable development activities. Forms of cooperation include providing master planning information, conducting feasibility studies, exchanging investment legal information, promoting Hue’s investment environment to Korean investors, and supporting businesses in investment research in accordance with regulations.
In addition, within the framework of local promotion programs in Switzerland and the Czech Republic (from June 1st to 13th, 2025), the Center signed MoUs with Vietnam Young Entrepreneurs Association in Europe and Vietnam Business Association in Belgium.
According to Ms. Nguyen Thi Bich Thao - Director of the Center, through the signing of MoUs with major enterprises and international business associations, the Center has established a strategic international connectivity network, expanding access to foreign investors, enterprises, and organizations. These agreements not only provide a formal and long-term cooperation foundation but also help orient investment promotion toward key sectors of Hue, such as urban infrastructure, high technology, logistics, services, and innovation.
 |
| Workers operating at the Carlsberg brewery |
An attractive investment destination
The outcomes of these cooperation agreements have not only contributed to strengthening Hue’s position in investment promotion but also created a solid foundation for attracting investment and promoting socio-economic development in the coming period.
In 2025 alone, the city granted approval for 44 new investment projects and adjusted capital for 23 projects, with total registered capital reaching 31,788 billion VND, including 10 FDI projects with registered capital of 36,3 million USD. In 2026, the city aims to attract new or additional investment capital for projects not using state budget funds, with a total expected value of approximately 10.000 - 15.000 billion VND. Investment promotion efforts will focus on key sectors, including industry, services, tourism, infrastructure, and high technology, prioritizing major projects with strong spillover effects.
To achieve these targets, in addition to strengthening cooperation and signing MoUs with enterprises and associations from various countries, the city will continue to enhance support activities for investors.
Ms. Nguyen Thi Bich Thao noted that in the coming period, the Center will focus on supporting investors from the research phase through legal procedures to project implementation, including assistance with policies, legal matters, partner connections, access to land resources, and other support mechanisms. At the same time, it will intensify communication and promotion of Hue’s investment environment through conferences, forums, and both domestic and international investment promotion events.
Alongside this, the Center will effectively operate four specialized task forces, with clearly assigned responsibilities based on project groups and investment sectors, following the principle of the “five clarities” (clear person, clear task, clear responsibility, clear timeline, clear outcome). These task forces will closely monitor project progress, assess investment efficiency, and promptly identify and report difficulties and obstacles to propose solutions to city leaders and relevant authorities, ensuring projects are implemented on schedule and effectively.
The Center will also provide regular, timely, and comprehensive reports on issues arising during project monitoring and support to the City People’s Committee and relevant agencies for direction and resolution, ensuring smooth and effective investment activities. Through these efforts, the Center aims not only to increase total investment capital but also to improve the quality and efficiency of investment, creating positive spillover effects for socio-economic development and reinforcing Hue’s image as an attractive and sustainable investment destination.