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Dung Quat Economic Zone and Quang Ngai Industrial Parks: An attractive destination for investors

In 2017, Dung Quat Economic Zone (EZ) and Quang Ngai Industrial Zones (IZs) continue to affirm the leading position of coastal economic zones, a nuclear growth of Quang Ngai province and a Central Key Economic Zone. With the potentials, the deep sea port system, the industrial land fund, gradually improved infrastructure and preferential policies, Dung Quat EZ and Quang Ngai IPs has become attractive destinations for domestic and foreign investors.

On the occasion of the New Year 2018, Mr_ Nguyen Minh Tai_ Member of Standing Committee of Provincial Party Committee, Chairman of Dung Quat Economic Zone and Quang Ngai Industrial Parks Authority had an interview with Dung Quat EZ and Quang Ngai Ips’reporter about the investment attraction as well as the achievements of Dung Quat EZ and Quang Ngai IPs and development directions in the coming time.

Chairman of the provincial People’s Committee Tran Ngoc Cang ( right) and Mr. Nguyen Minh Tai – Chairman of DEZA (2nd from right) inspected and solved problems in land clearance of Dung Quat upgrading and expansion project.

Reporter: What do you think about the investment attraction in Dung Quat EZ and the IPs in recent years?

Mr. Nguyen Minh Tai: With determination to make Dung Quat EZ and Quang Ngai Ips become the socio-economic development of Quang Ngai province, together with special attention of the Government and Quang Ngai’s leaders, the attracting investment situation in Dung Quat Economic Zone and Quang Ngai Industrial Parks has been becoming an attractive destination for domestic and foreign investors.

In 2017, is considered as a breakthrough year for the new development period.  Only this year, Dung Quat EZ and Quang Ngai IPs attracted 41 projects with the total investment capital of more than 3.12 billion USD; of which 28 domestic projects with the total investment capital of over 61,179 billion VND and 13 FDI projects with the total investment capital of more than US $ 385.5 million. Up to now, Dung Quat EZ and Quang Ngai Industrial Parks has attracted 258 projects with the total investment capital of more than US $ 11 billion. of which, 43 foreign projects with total investment capital of more than 1.37 billion USD and 215 domestic projects with total investment capital of 186.731 billion VND.

In particular, there are many large-scale projects such as Hoa Phat Dung Quat Iron and Steel Complex with the investment capital of VND 60,000 billion, Messer Group Gas Separation and Cooling Plant (Germany) with the investment capital of  USD 90 million, the Vietnam Asphalt Plant of Pields Engineering Group (Korea) ) $ 69 million, Dung Quat Factory of Capital City Assets Limited $ 35 million, etc.

Especially, VSIP Quang Ngai in 2017 attracted 5 projects with investment capital of nearly $ 155 million. Up to now, VSIP Quang Ngai has attracted 17 FDI projects with total investment capital of more than US $ 383 million.

Reporter : According to you, what is the decisive factor for achieving these achievements?

Mr. Nguyen Minh Tai: To achieve these results, in addition to the investment incentive policies, Dung Quat EZ and Quang Ngai IPs has our own advantages to become an attractive destination for domestic and foreign investors.

The first is the deep sea port system, which is an important gateway for the import and export of goods. Dung Quat I seaport has a depth of about 14m and other specialized and general ports to meet ships of 50,000DWT- 100,000DWT. And the specialized port system of Hoa Phat Dung Quat Steel Complex for ships from 10,000 DWT to 150,000 DWT is being building. It is expected that by 2018, a container line will be formed here.         

DEZA signed a memorandum of understanding (MoU) with Six South Korean enterprises..

The second advantage is the relatively large industrial land fund, which is important for attracting large projects. The third is the basic infrastructure which can meet the needs of domestic and foreign investors. Up to now, 120km of roads has been completed and put into use; these include the main roads of Van Tuong urban center, Binh Long – Oil refinery – Ky Ha port, Doc Soi – Dung Quat port. Along with that, the transport infrastructure connecting Dung Quat Economic Zone with the Central key economic zone is being implemented synchronously. In 2017, more than 65km from Tam Ky city to Da nang was put into operation. It is expected that by the second quarter of 2018, Tam Ky – Quang Ngai will be completed. And Chu Lai Airport was upgraded and expanded (Phase 1) to meet the demand of 0.8-1 million passengers per year.

Regarding the infrastructure development, it is impossible to mention the investors in infrastructure of industrial zones such as: Industrial Parks – Urban – VSIP Quang Ngai and Dung Quat Industrial Town, this is the highlight in infrastructure of Dung Quat EZ and Quang Ngai IPs. These projects, creating a clean land fund and synchronous infrastructure to attract investment, especially FDI projects.

In addition, over the past time, DEZA has constantly reformed administrative procedures, shortened the time to process investment procedures. In the  action of the staffs, DEZA always determines “investors and enterprises are the ones to serve”; always accompany, actively support investors before, during and after the granting investment licenses.

VSIP Quang Ngai

Doosan Vina is one of the most effective FDI enterprises in Dung Quat EZ

Reporter: What is the policies, orientation in attracting investment in Dung Quat Economic Zone and industrial Parks in the coming time?

Mr. Nguyen Minh Tai: To further promote and exploit the existing potentials and advantages such as deep-sea port systems, infrastructure systems, industrial land fund, etc. In the coming time, DEZA will continue to improve our competitiveness in attracting investment by accelerating the reform of administrative procedures; quickly and promptly solve problems of investors in the process of implementing the project. Continuing to review all existing planning to timely adjust and supplement to suit the reality and requirements set in the development process.

At the same time, concentrating on attracting the industries and domains which Dung Quat EZ and Quang Ngai IPs have comparative advantages, especially those related to the use of deep-water seaports, heavy industry, Infrastructure investment in industrial zones, etc. To give priority to the exploitation of projects of the oil and gas industry in order to step by step make Dung Quat EZ become a national petrochemical center according to the approved planning.

          Thank you!

By T.Giang

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