Supervising the production process at the Carlsberg Brewery.

Creating room for growth

In early 2026, the People's Committee of Hue City approved the Vietnam-Singapore Industrial Park Joint Venture Company Limited as the investor for the project to invest in, build, and operate the infrastructure of the VSIP Hue Industrial Park in La Son Industrial Park. The project covers an area of ​​467.2 hectares with a total investment of VND 3,075 billion. Currently, the investor is coordinating with relevant units to carry out land clearance procedures, aiming to complete the clearance of approximately 100 hectares by June 30, 2026, ensuring the conditions for project commencement in the fourth quarter of 2026.

Known for its strong track record in attracting investment to industrial parks, the Vietnam-Singapore Industrial Park Joint Venture Company Limited (VSIP) has developed 20 projects nationwide, covering a total land area of ​​over 12,000 hectares. VSIP's industrial parks currently attract more than 1,000 investors from various countries and territories, with a total registered investment capital exceeding US$24 billion, creating jobs for over 340,000 workers. These projects contribute to attracting secondary investors, thereby forming modern, environmentally friendly production clusters. The implementation of the VSIP Industrial Park infrastructure construction and operation project not only creates a boost in attracting investment but also contributes to the formation of supply chains, satellite businesses, job creation, and expands long-term growth potential for Hue.

Dr. Can Van Luc, Chief Economist of BIDV and Member of the National Financial and Monetary Advisory Council, once suggested at the Business Cafe program organized by the Department of Finance that Hue needs to attract large, powerful industrial park investors like VSIP because these investors will be a "magnet" attracting high-quality FDI capital. Instead of having to promote investment independently, Hue can leverage VSIP's existing global partner network to attract investors to Hue. When industrial "eagles" land in VSIP, supporting manufacturing sectors will be boosted. This is a golden opportunity for the private sector and small and medium-sized enterprises in Hue to embark on a race to upgrade their production and management capabilities to become satellite suppliers, thereby participating deeply in the global value chain. From here, many new opportunities in increasing budget revenue and creating jobs will be expanded.

Wastewater treatment system at Gilimex Industrial Park Project

Along with the successful attraction of the VSIP project, many large projects in the area have also had their capital increased and their investment scale expanded, creating new growth opportunities for the locality. A typical example is the adjustment to increase the total investment capital by an additional VND 21,178 billion to implement phase 2 of the Kim Long Motors Hue Production and Assembly Complex project. In the first months of 2026, this company inaugurated its truck manufacturing plant and launched its "Kim Long" branded vehicle lines, contributing to enhancing the competitiveness of the local industry. These moves show that the locality's shift in investment attraction strategy is gradually yielding clear results, not only attracting new projects but also building confidence for existing investors to continue expanding their production and business activities.

Besides the improved quality of investment projects, the number of investment projects partly demonstrates that adjustments in the investment attraction strategy are gradually yielding results. In the first four months of the year, Hue granted licenses for 19 new projects with a total registered investment capital of VND 13,982.1 billion, an increase of 8 projects compared to the same period last year. Of these, 9 projects with registered capital of VND 9,085 billion were in economic and industrial zones; and 10 projects outside economic and industrial zones with registered capital of VND 4,897.1 billion were in other zones. The city also approved capital increases for 4 projects with an additional VND 1,758 billion; and focused on supporting the commencement procedures for key projects, such as: the Bau Va and Chan May social housing projects; and the housing construction investment project on land plots along Tran Cao Van and Nguyen Tri Phuong streets…

Infrastructure investment at Gilimex Industrial Park

Identifying the right growth drivers

In the 2026 investment promotion plan, the Party Central Committee member, Deputy Secretary of the City Party Committee, and Chairman of the Hue City People's Committee, Nguyen Khac Toan, emphasized: Hue City's investment promotion perspective for 2026 will continue to pursue sustainable development goals, focusing on attracting high-value investment projects, protecting the environment, and developing a green economy. Hue City will continue to reform administrative procedures, develop infrastructure, and build an attractive investment environment, creating favorable conditions for investors, while simultaneously developing tourism, high technology, and other sectors with great future potential.

Specifically, Hue City focuses on attracting investors in high-tech industries, those applying advanced technologies, and high value-added sectors that meet the requirements of sustainable development. At the same time, priority is given to projects that protect the environment, develop clean industries, renewable energy, ecotourism, and information technology services. Accordingly, the city will build mechanisms to attract businesses capable of transferring high technology and with international influence to develop the city into a regional industrial and technological hub.

Investment promotion is closely linked to infrastructure development, including transportation infrastructure, urban infrastructure, industrial parks, and high-tech zones. Particular emphasis will be placed on connecting areas within and outside the city, creating favorable conditions for the operation of investment projects, while simultaneously building a synchronized and modern infrastructure system to attract investors. Key transportation infrastructure projects, especially inter-regional connectivity infrastructure, will be a top priority in 2026.

Carlsberg Brewery

Hue City also clearly identifies investment promotion as a crucial tool to realize the policy of strongly developing the private economy into a key driving force of the national economy, in line with the spirit of Resolution No. 68-NQ/TW dated May 4, 2025, of the Politburo on the development of the private economy. Based on this, the city prioritizes attracting and supporting domestic private enterprises, especially small and medium-sized enterprises, innovative startups, and those with development potential in high-tech industries, clean agriculture, cultural and creative industries, high-quality services, e-commerce, the digital economy, and renewable energy. At the same time, it strengthens on-site investment promotion, builds mechanisms to support existing private enterprises in expanding investment, enhancing competitiveness, and participating deeply in global value chains and production; creating conditions for private enterprises to participate in infrastructure and public service projects through public-private partnerships.

In the context of increasingly limited room for extensive growth, attracting investment is no longer simply about increasing the number of projects or the scale of registered capital, but rather about the quality and effectiveness of the projects. The city's ability to correctly identify growth drivers and proactively attract investment in key sectors with the potential to lead, such as high-tech industries, logistics, strategic infrastructure, and high-quality services, will create a shift in the economic structure, generating new opportunities for growth.

Text and photos: HOANG LOAN

Source: https://huengaynay.vn/kinh-te/thu-hut-dau-tu-vao-cac-dong-luc-tang-truong-166016.html