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To catchopportunity, to take eadvantages of potientials

With potential advantages, especially the dynamism of the provincial leaders when directly knocking on the potential investors doors, investment attraction in Dung Quat EZ and the Quang Ngai IPs in recent years has achieved impressive breakthrough.

Party Secretary Le Viet Chu directly inspected and solved the problems of Dung Quat industrial town project.

Open potientials from South Korea.

After the promotion trip to South Korea (8/2018) by the provincial leaders and the Dung Quat EZ and Quang Ngai Industrial Zones Authority (DEZA), recently, some Korean corporations have soughtinvestments in Dung Quat Economic Zone and Quang Ngai Industrial Parks. That is Nasalok coming to express their investment proposal for the factory of producing types of  screws, etc used for motorcycles and cars.

The Groundbreaking ceremony of six Korean investors in Dung Quat EZ.

In late 8/2018, six Korean enterprises simultaneously held a their groundbreaking ceremony for six factories in Dung Quat EZ.With a total investment of more than USA 11 million, these enterprises invested in supporting industries such as manufacturing and processing electrical equipment, industrialvalves, and providing freight services and warehousing, etc.Their investment certificate were awarded by the Chairman of the Provincial People’s Committee Tran Ngoc Cang on investment promotion trip to Korea in the middle of November 1977 connectedby Doosan Vina.

Mr. Nguyen Minh Tai –Chairman of DEZA highly appreciated these six projects: “These enterprises invested in the fields that are being encouraged in Dung Quat EZ and Quang Ngai IPs. Although they are small scale projects, they play important roles in establishing the value chain, supporting large scale industrial projects in Dung Quat EZ and in the region as well, improving the product quality to meet international standards, deeply participating in the global supply chain. “

Another Korean investor is Hyundai Engineering Co., Ltd. In April 2018, the company signed a cooperation agreement with Hoang Thinh Dat Joint Stock Company to invest in the Thermoelectric Plant Project in Dung Quat Industrial Town. Now they are in the process of completing the registration files. It is estimated that the plant will have a capacity of 300 tons/h of steam and 7MW/h of electricity, which is expected to be put into operation by 2021.

Korean investors investing in Dung Quat EZ and Quang Ngai IPs initially showed that strategies in investment promotion of the provincial leaders as well as DEZA has brought efficiency. Not only Korean investors, there are many investors from other countries such as Japan, Belgium, Taiwan … are also planning to seek investment opportunities in the Dung Quat and Quang Ngai IPs.

VSIP Quang Ngai IP has been an attractive destination for FDI investors. In the picture: workers of Dung Quat 1 South Sea Leather Factory in working shift.

To improve to create investment attraction

Determining that infrastructure investment is one of the prerequisitestoattract investors.At the meeting with DEZA in September 2018, Party Secretary Le Viet Chu said that in the future, the province will prioritize investment in infrastructure in Dung Quat EZ and in Quang Ngai IPs. Specifically, focusing the capital on completing the route Tri Binh – Dung Quat port to connect with the Da Nang – Quang Ngai expressway, building inter-port road and sand embankment phase 2.

According to Nguyen Minh Tai, in addition to strengthening the connection, and directly knocking on the investors doors, DEZA will continue to promote investments through existing investors invested in the Dung Quat economic zone and Quang Ngai industrial parks, mobilize enterprises by enterprises.

Specifically, DEZA will focus on supporting investors such as upgrading and expansion Dung Quat oil refinery; Hoa Phat Dung Quat Iron and Steel Complex, etc to attract supporting investors.To continue to support infrastructure investors such as VSIP Quang Ngai and Hoang Thinh Dat in attracting investment, especially FDI investors. To have a close cooperation with ministries and central branches and two investors including EVN Group and Sembcorp Group to implement Dung Quat Gas Plant.

At the same time, in the investment promotion activities, focusing on attracting the sectors which Dung Quat EZ and Quang Ngai IPs has comparative advantages, especially those related to the use of deep-seaportsp, heavy industry and infrastructure projects, etc. The priority will be given to exploiting oil and gas projects to step by step developDung Quat EZ into a national refinery and petrochemical center.

In the first nine months of 2018, Dung Quat EZ and Quang Ngai IPs attracted 38 projects with the total registered capital of over USA 284 million (29 domestic projects and 9 FDI projects). By the end of September 2018, Dung Quat EZ and Quang Ngai IPs attracted 285 projects with the total investment capital of more than USA 11.2 billion. Of which, 234 domestic projects with more thanUSD 9.8 billion, 51 FDI projects with more thanUSD 1.38 billion

By T.Giang

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