Phuong Trang Group and Kim Long Motor cooperate to invest in Hue

The above content is stated in the memorandum of understanding recently signed between Hue City People's Committee, Phuong Trang Group Investment Joint Stock Company (Futa Group) and Kim Long Motor Hue Joint Stock Company on building a heritage urban area and modern industry.

Established in 2003, Futa Group has a strong position in the transportation sector with the Phuong Trang passenger car brand. By 2010, this enterprise had entered the real estate sector, known as the investor of a series of projects in Ho Chi Minh City and Da Nang such as New Pearl, The Landmark City, Han Riverview or Phuong Trang Eco-marine Urban Area.

Chan May - Lang Co Economic Zone. Photo: Nguyen Phong

Kim Long Motor Hue was established in 2017, operating in the fields of manufacturing, assembling auto parts, components and industrial park infrastructure business. In Hue City, this enterprise has invested in an auto manufacturing and assembly industrial park with a scale of more than 600 hectares in phase 1.

The three parties will cooperate to exploit the strengths of Hue City and Chan May - Lang Co Economic Zone, promote urban, industrial, transport infrastructure, seaport, public transport projects...

According to the memorandum of understanding, Futa Group and Kim Long Motor Hue will study and propose two projects, including Chan May Administrative and Financial Center Urban Area and Lang Co - Lap An Lagoon Urban - Commercial Service Complex. The two enterprises will also cooperate in developing apartments for low-income people in areas serving large-scale automobile industry.

Regarding manufacturing industry, the two sides will develop automobile manufacturing complexes and supporting industries; LNG power plants, exploiting Chan May deep-water seaport infrastructure...

The two units are also researching and implementing urban railway routes from Hue City to Phu Bai, Phu Bai to Chan May Lang Co, along the Perfume River, routes to heritage sites and inter-regional routes, and developing an electric bus system to serve the city. In the near future, electric bus routes to pick up and drop off students and tourists will be piloted in some tourist areas.

To date, Chan May - Lang Co Economic Zone has attracted 55 valid investment projects with a total registered capital of over VND97,000 billion, including 15 FDI projects with a total capital of over VND56,000 billion. According to the master plan until 2045, Chan May - Lang Co is oriented to be a multi-industry economic zone, a national and international traffic hub. The project will provide logistics services for the key economic region of the Central region and the East - West corridor as well as large-scale tourism services.

Source: https://baodautu.vn/tap-doan-phuong-trang-va-kim-long-motor-hop-tac-dau-tu-o-hue-d392989.html