The People’s Committee of Hue City in central Vietnam, Phuong Trang Group (FUTA Group), and Kim Long Motor Hue JSC have signed a Memorandum of Understanding (MoU) on project cooperation, according to a report from the Government News.

Under the agreement, the three parties outlined specific goals and committed to leveraging the potential and strengths of the central city and its Chan May–Lang Co Economic Zone.

The collaboration aims to promote urban development, industrial projects, transportation infrastructure, seaports, public transit, and other sustainable sectors.

The long-term vision 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 MoU sets forth a comprehensive roadmap for Hue's development, focusing on three core areas:

1. Urban real estate projects: Conducting studies and proposing projects such as the Chan May Administrative and Financial Center and the Lang Co–Lap An Lagoon Urban–Commercial Complex, alongside infrastructure upgrades in the Lang Co area. The parties will also invest in affordable housing to support sustainable social welfare, especially in areas serving the expanding automotive industrial zone.

2. Transportation infrastructure and public transit: Collaborating on the research and deployment of urban monorail lines, including routes from the center of Hue City to Phu Bai, and from Phu Bai to Chan May–Lang Co, along the Huong River, to heritage sites, and inter-regional connections. The plan also includes developing an electric bus system in Hue City, starting with pilot routes for student and tourist transport in select tourism zones.

3. Industry and manufacturing: Advancing industrial complexes such as automotive manufacturing and supporting industries; partnering with stakeholders to develop green steel production, LNG power plants, and deep-water port infrastructure at Chan May. All investment projects will align with Hue City’s investment attraction criteria.