Hue City GRDP grows 9.88% in Q1 2026

Hue City’s gross regional domestic product (GRDP) expanded by 9.88% in Q1 2026, supported by a broad upturn across industrial construction, services, and agriculture. Tourism, trade, and investment continued to be key growth drivers as the city reviewed the first-quarter socio-economic performance and set priorities for Q2 2026.

Q1 2026 growth and sector performance

At the regular March 2026 meeting held on April 2, the Hue City People’s Committee assessed the first-quarter socio-economic situation and discussed plans for the second quarter. Finance Department Director La Phuc Thanh said the economy and society continued to improve, laying a foundation for the annual growth target.

In Q1 2026, the economy sustained positive momentum with GRDP up 9.88%, higher than the same period last year (9.5%). Sector growth included: industrial-construction up 12.76%; services up 9.3%; agriculture-forestry-fisheries up 3.8%; and product taxes minus subsidies up 8%.

The services sector remained the backbone, accounting for 53.9% of the economy. Tourism activity recovered noticeably, with nearly 2 million visitors, up 31% year-on-year. Tourism revenue reached about 4,500 billion VND, up 71%, and was cited as one of the key drivers of overall growth.

Trade, retail sales, and investment

Trade and import-export also posted positive results. Total export turnover reached USD 421 million, up 28%, while imports reached USD 345.5 million, up 29.8%. Total retail sales of goods and consumer services revenue was estimated at over 18,400 billion VND, up 18.5%. The transport, credit, and basic price sectors were reported as stable, helping meet production and business needs.

Total social investment in Q1 2026 was about 8,000 billion VND, up more than 13%. Hue City issued 11 new projects with registered capital of over 9,100 billion VND, including a large-scale FDI project. The city said landmark projects—particularly social housing and urban infrastructure—are being accelerated to speed up progress, expand urban space, and strengthen regional connectivity.

Challenges and policy focus for Q2

Despite the overall improvement, the meeting noted signals that business activity remains uneven. The number of newly established enterprises reached only 260, down sharply from the same period, while the number of enterprises temporarily ceasing operations remained high. Public investment disbursement reached 13.5% of the plan, higher than the national average, but still requires further acceleration. State budget revenue in Q1 2026 was estimated at over 4,000 billion VND, up 14%.

Representatives urged maintaining growth by accelerating public investment disbursement and advancing key projects, especially land clearance and resettlement. They also called for clearly defining the head’s responsibility in cases of delays.

Free-trade zone model discussed

The meeting also discussed exploring a model for a free-trade zone. The Finance Department was tasked with leading coordination with relevant agencies and drawing on experiences from other localities to propose an approach suitable for Hue.