Opportunity for Prosperous Development

Thua Thien Hue has a unique material and cultural heritage, which is a foundation for development, but also must be handled carefully. Many wonder if they should preserve Hue as currently or pursue rapid development; the best balance between development and preservation is not easy to find.

 

Vong Canh Hill tourism site project is an example. In 2005, Huong Giang Tourist Joint Stock Company invested in Vong Canh Hill tourism project, which caused immediate worries among Hue lovers and the press. Public pressure resulted in this project’s termination, despite enthusiastic people thinking that it was a contribution to Hue in terms of economic benefit and heritage preservation.

 

It is undeniable that Hue has significant advantages for tourism development. Although the number of luxury hotels (4 and 5 star) in Hue is highest in the Central and Highland area, many tourists choose tours in Da Nang and also visit Hue.

 

Let’s make a comparison. In 2010, Binh Duong, known for its industrial zones rather than relics or heritages sites, received 3,350,000 visitors and gained turnover of over VND 505 billion. Meanwhile, by November of 2011, it is estimated that Thua Thien Hue received 623,000 visitors and gained turnover of VND 280 billion.

 

Economic growth will certainly lead to breakthrough in tourism and vice versa. Businessman Nguyen Van Quy, CEO of Trung Quy Investment Joint Stock Company said, “Thua Thien Hue needs to promote industry since it is industry that will bring tourists to the province.” It is time for Thua Thien Hue to take into account tourists who are entrepreneurs and specialists in Industrial Zones.

 

While some Central localities, especially in the Northern Central area, are actively initiating ambitious projects with FDI investment of billions of US dollars, Thua Thien Hue is still fastidious. As a resulte, Thua Thien Hue is associated mostly just with the beer and cement industries. However, the requirements of development and especially the target to become a centrally-governed city before 2015, will urge on this province.

 

Six industrial zones on nearly 2,200 hectares have been relocated in the area, especially regions without advantages for agricultural development. It can be said that Thue Thien Hue has both preserved its heritage and boosted rural industrialization and modernization. Giving highest priority to investment into industrial zones during expansion of Phu Bai IZ, Hue citizens have considered engagement between Industry and Commercial-Service Centre. From IZs, Thua Thien Hue industry is surpassing two traditional fields, strengthening internal force for Thua Thien Hue city in near future.

 

Thua Thien Hue has put into place a one-stop mechanism between 3 offices: Department of Investment and Planning, Public Security and Bureau of Customs. Accordingly, enterprises must make declaration only once, and for receiving and returning results come to the Department of Investment and Planning to get business license within 6 days.

In the South of the province, Chan May Lang Co Economic Zone, famed for “project fastidiousness”, has issued investment licenses for 33 projects with total registered capital of over VND 31 billion. Among those are two big projects: Non-tariff Zone of Sai Gon Invest Group has initiated construction with capital of over US $ 1 billion, and Bayan Tree – Singapore tourism project is under construction on 300 hectares.

 

Hue is still Hue, with one side of Ancient Palace, Citadel and the other side of busy commercial streets. Trang Tien Bridge plays the role of linking the past and the present, between the Ancient Capital and the dynamic city. There are many things said about Thue Thien Hue and investment attraction here, including some complaints of enterprises. However, 700 enterprises registering new business (registered capital of VND 6,000 billion) and 42 foreign investment certificates (total registered capital of nearly US $2.5 billion) show the lucrative business opportunities available for those who are looking in this market.