HÀ NỘI — While many areas face challenges in drawing major investment, Thừa Thiên–Huế is seeing progress with the Kim Long Motor automotive complex, a key industrial project expected to contribute to local economic growth.

The company’s decision to inject an additional VNĐ21 trillion (US$804 million) into the project not only reflects its ambition to scale up operations but also signals a strategic shift towards exports and integration into global supply chains.

According to the People’s Committee of Huế City, the Kim Long Motor Huế complex, developed by Kim Long Motor Huế JSC in the Chân Mây–Lăng Cô economic zone, has had its total investment adjusted from VNĐ4.4 trillion to VNĐ25.6 trillion ($985 million).

This sixfold increase is earmarked for phase two of the project, following the near completion of phase one, which saw the construction and commissioning of various facilities for automobile assembly, parts manufacturing, engine production and powertrain systems.

Local authorities view the project as a key driver in achieving the province’s target of 10 per cent economic growth by 2025.

From the corporate side, the expansion goes hand in hand with internationalisation strategies, backed by a series of overseas partnerships signed in recent months.

In late 2024, Kim Long Motor signed a tech transfer deal with Dongfeng Dana to produce 80,000 axles annually for both petrol and electric vehicles. In early 2025, it partnered with Changan to build a 50,000-unit car plant in Huế, aiming for 40 per cent localisation at launch and over 80 per cent by mid-2026.

Kim Long Motor has expanded into South Korea via a deal with DAON Mobility to supply 200 buses annually, and into Thailand with CHO THAVEE Group for 3,000 electric and Yuchai-engine buses per year, all made in Huế.

The company is also moving into social housing, proposing a VNĐ578 billion project in Chân Mây with 898 apartments, including 780 units for low-income residents. — BIZHUB/VNS