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Dung Quat Economic Zone and Quang Ngai Industrial Parks: investment attraction accelerated.

In 2017, Dung Quat Economic Zone and Quang Ngai Industrial Parks attracted 35 projects with total investment capital of more than US $ 3.12 billion. ​Of which, there were 7 new FDI projects, increasing the total number of FDI projects to 43, with more than US $ 1.37 billion. This impressive figure has created an important premise for Dung Quat Economic Zone and Quang Ngai Industrial Parks to accelerate in the new period.

That success is the result the provincial leaders and Dung Quat Economic Zone  and Quang Ngai Industrial Parks Authority (DEZA) in actively focusing on improving the investment and business environment.

Breakthrough in attracting investment

In comparion with previous years, the overview of investment picture of Dung Quat EZ and Quang Ngai IPs this year has changed dramatically. One of the most significant project was Hoa Phat Dung Quat Integrated Iron and Steel Complex with a total registered capital of VND 60 trillion and capacity of 4 million tons per year. The products are mainly construction steel, rolled steel. At present, the first phase is being implemented in 21 months, and the entire project will be completed by the end of 2019.

In 2017, the significant investment of FDI projects into Dung Quat EZ and Quang Ngai IPs was considered to be a vibrant year, with a total investment capital of over US $ 385.5 million.

There are many large-scale projects such as the USD 90 million Messer Group Gas Separation and Cooling Plant in Germany, the Vietnam Asphalt Plant of Pields Engineering Group (Korea) ) $ 69 million, Dung Quat Factory of Capital City Assets Limited $ 35 million, …

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.

granted an investment certificate for the Hoa Phat Dung Quat Integrated Iron and Steel Complex

In addition, in 2017, many domestic and foreign investors came to survey and seek investment opportunities in Dung Quat Economic Zone and Quang Ngai Industrial Zones such as J-Power Japan Power Development Company. Dae Young E & C (South Korea), Huyndai Engineering (Korea), Mitsubishi Corporation (Japan), T & T Group, etc.

Up to now, Dung Quat EZ and Quang Ngai IPs have 258 projects, total investment of more than 11 billion USD, of which, there are 43 FDI projects worth $ 1.37 billion and 215 domestic projects with nearly 186 trillion VND.

Businesses still “keep pace” with the rapid growth

In 2017, the production and business activities of enterprises in Dung Quat EZ and Quang Ngai Industrial Zones were stabilized and developed, contributing to the socio-economic development of the province.

At this time, 116 enterprises have been operating in a stable manner in Dung Quat EZ and Quang Ngai IPs. In 2017, the value of industrial and service output was estimated at 84,000 billion; state budget revenue was estimated at VND10,586 billion; export turnover reached USD 308 million; 3,600 workers had new jobs in the zone, incresing the total labor force in the area up to over 33,600 laborers.

granted an investment certificate for Messer Group

Some typical export products of enterprises in Dung Quat Economic Zone and Quang Ngai Industrial Zones included FO oil of Dung Quat Oil Refinery; container cranes, desalination plants, boilers of Doosan Vina’s thermal power plants; yarn of Xindadong Textilex Co.Ltd; shoes of King Marker III Company Limited; chocopie of Quang Ngai Sugar Joint Stock Company; all kinds of products of Thuyen Nguyen Import Export Trading Company and other products such as stainless steel, wood, electronic components of some enterprises.

BSR is ranked 7th largest enterprises.

Get ready for investors      

In 2018, Dung Quat Economic Zone and Provincial Industrial Parks Authority (DEZA) aims to attract US $ 120-150 million investment capital; continue to promote and exploit existing potentials and advantages, such as: deep sea-port system, infrastructure system, and land fund for industrial development.

In the coming time, DEZA will continue to: improve competitiveness in attracting investment through accelerating reform of administrative procedures; review all existing plan to timely adjust and supplement to suit the reality and requirements set in the development process; act as the focal point and promote the formation of the container line at Dung Quat port in order to reduce transportation’s costs and time and contribute to attracting investment into Dung Quat EZ and Quang Ngai IPs; speed up the investment in infrastructure works in economic zones, step by step complete the infrastructure to attract investment; to focus on supporting investors to implement large projects: Hoa Phat Dung Quat Integrated Iron and Steel Complex, the project of the upgrade and expansion of the Dung Quat Oil Refinery, Dung Quat industrial park; closely coordinate with Quang Nam Province, Ministries, central agencies and project investors to bring gas to shore from the Blue Whale gas field; prepare conditions for the implementation of gas-fired power projects in Dung Quat EZ; at the same time concentrate 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 and closely cooperate with VSIP Quang Ngai and Hoang Thinh Dat Group to focus on attracting light FDI projects.

By T.Giang

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