Vietnam’s Thua Thien Hue becomes investors’ next target, thanks to 3 key factors

Despite 2021 being a challenging year because of the pandemic, Hue still thrived in exports and investment

Thua Thien Hue is at the heart of Vietnam – north of Da Nang and Hoi An. It has an estimated population of over 1.1 million (2020) and a labour force of around 620,000.

It is starting to attract investors thanks to the province’s thriving tourism sector and attractive incentive policies.

Moreover, despite 2021 being a challenging year because of the pandemic, Hue still thrived in exports and investment. Last year’s export sales were reported to have exceeded the initial target, reaching USD158 million, while total invested capital increased by 11 percent to around USD266 billion.

According to Vietnam Briefing, there are three key factors that make investing in Thua Thien Hue a sound idea. 

First, it has pro-business policies, such as the Department of Planning and Investment assisting businesses with administrative formalities and transparent procedures. The province is said to be competitive in terms of government incentives compared to other provinces.

Second, because of its geographical qualities, Thua Thien Hue has several competitive advantages in growing logistic services. In terms of road, rail, and air transportation, the province is situated on the North-South traffic axis. It is also located on the East-West economic corridor that connects Myanmar, Thailand, Laos, and Vietnam, laying the groundwork for future shipping service potential.

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Lastly, it has a thriving tourism industry. As of September 2021, Thua Thien Hue welcomed 633,315 visitors. More than 18,700 of these were foreign visitors.

Recently it has been announced that digital transformation will be implemented in the tourism sector, further promoting the image of the province. Even the government has been proactive on platforms such as Facebook and Zalo, a Vietnamese messaging app.

Also, as a means of attracting domestic and international tourists to the province, a media trip called “Visit Hue” will be held for the first time, according to The World and Viet Nam Report.

The Property Report editors wrote this article. For more information, email: [email protected].