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| Current infrastructure of Chan May seaport. Photo: Vo Ngoc Thanh |
Doubling joy
The end of the year brings double joy - alongside the excitement of the National Assembly approving and establishing the centrally-governed city of Hue that preserves and promotes the former imperial capital’s heritage and cultural identity, major projects in the area are successively becoming operational, creating new momentum for the country’s sixth centrally-governed municipality.
Among the “big players”, the presence of modern industrial factories such as Kim Long Motors Hue (capacity: 3,500 vehicles annually) and the Kanglongda factory, along with infrastructure projects ranging from the Gilimex and Viglacera industrial parks to the Saigon - Chan May duty-free zone, provides new drivers for economic development. These projects not only enhance production capacity and increase budget revenue but also create stable employment opportunities and improve income for local residents. Additionally, as the industrial park infrastructure is upgraded, Hue will become an attractive destination for investors, creating a comprehensive production chain.
Similarly, the AEON Mall Hue Commercial Center has brought fresh energy to Hue’s retail and service sectors. With 140 stores, including 80 brands making their debut in the former capital, AEON Mall is not just a shopping destination but also a place for residents to enjoy entertainment and experience life’s values. The recently inaugurated Golden Sands Golf Resort by the BRG Group in Phu Vang also helps elevate Hue to the map of world-class destinations.
Having more ideal destinations will obviously brighten the night economy and stimulate growth across accommodation, cuisine, and entertainment sectors.
Hue also focuses on sustainable and modern living environments. The Phu Son Waste Treatment Plant and Van Nien Clean Water Treatment Plant have contributed to improving environmental quality, meeting residents’ daily needs while creating advantages for tourism, especially eco-tourism, and preserving Hue’s natural beauty.
These advances are opening up a future and stature for a city that preserves tradition while embracing modernity. The approval of 34 new investment projects totaling 6,123 billion dongs, including 13 FDI projects with a registered capital of 36 million USD, and the preliminary approval of 7 projects with expected investment capital of 5,292 billion dongs in the first 10 months of the year, provides evidence of this transformation.
Accompanying and assisting enterprises
Investment promotion activities are crucial for accessing and mobilizing domestic and foreign investment resources to stimulate local economic development. However, with today’s fierce competition for investment, localities need to change their investment promotion mindset. Hue is no exception.
Ms. Nguyen Thi Bich Thao, Director of the Investment Promotion and Business Support Agency, explains that instead of taking a passive approach through investment promotion conferences or seminars, Hue has been implementing extensive reforms, shifting from traditional investment promotion thinking to a more proactive, strategic approach targeting suitable partners and highly feasible projects. Based on careful planning, the city clearly identifies its strengths, some strategic and potential partners, and specific project directions to attract investment from appropriate investor groups. Rather than calling for massive investment, the province focuses on “facilitating local investment” by inviting investors who have succeeded in Hue to research other projects or encouraging investors to “introduce a friend” to Hue.
This investment promotion approach isn’t new but is more effective than traditional methods.
Besides changing promotion methods, supporting procedures, removing difficulties and obstacles, accelerating the granting of investment permits and the implementation of licensed projects are essential. The recent establishment and clear task assignment of the Investment Promotion and Business Support Agency contributes significantly to successful investment attraction. The agency provides clearer directions for each specialized section in supporting investors before, during, and after their investment. The consolidation of four working groups under the City’s leadership also demonstrates strong determination in investment support, resolving difficulties, and accelerating project progress.
As for Mr. Phan Quoc Son, Deputy Director of the Department of Planning and Investment, the government is not merely a bridge for investors but stands alongside them to remove difficulties arising during project implementation. Support extends beyond administrative procedures to include consulting activities, assistance in finding resources, and resolving issues related to infrastructure, legal matters, and human resources, helping investors implement and develop projects as smoothly as possible.
Along with innovating investment promotion thinking, Hue is also promoting information technology applications to ensure transparency in investment solicitation and reduce resolution time for business issues. The government has also implemented management software for private investment projects, creating a direct investors’ feedback channel, actively supported investors in completing land procedures for projects that have completed investor selection, prepared clean land funds ready for project investment calls, focusing on industrial park infrastructure projects, logistics, and more.
With these strong transformations, Hue is opening a new direction, not only attracting external resources but also enhancing investment efficiency and developing the economy sustainably from within. Proactive, oriented, and selective strategies will be the foundation for the city’s further breakthroughs in the coming period.