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The continuation of successes

Being one of the first established coastal economic zones (EZs) in the whole country. So far, Dung Quat Economic Zone has affirmed its position and importance in the socio-economic development of Quang Ngai and the Key Central Economic Region.

In addition to the invested large projects, preferential policies and the utmost dedication to support investors of the provincial leaders and the Dung Quat Economic Zone and Quang Ngai Industria lParks Authority (DEZA), Dung Quat Economic Zone and Quang Ngai Industrial Parks is continuing to welcome new wave of investment.

Provincial Party Secretary Le Viet Chu and Chairman of FLC Group surveyed investment.

The motivation for the development

achievements, further affirming its role in the development of Quang Ngai province. During this year, Dung Quat Economic Zone and Quang Ngai industrial parks in attracted 57 projects with the total investment of more than VND 25,888 billion (equivalent to USD 1.12 billion); In which, there are 44 domestic projects with total investment of over USD 809.6 million and 13 FDI projects with the total investment of more than USD 308.7 million. The total number of projects in Dung Quat EZ and Quang Ngai IPs is 301 projects with the total investment of over USD 12 billion; including 54 FDI projects with the total capital of more than USD 1.6 billion and 247 domestic projects with the total investment of more than USD 10.4 billion.

As stated by economists, Dung Quat Economic Zone and Quang Ngai Industrial Parks has many advantages to develop supporting industries (SI). In 2018, It attracted many SI projects. Although they are small-scale projects, their nature has important implications in forming the value chain, supporting large-scale industrial projects in the zone, enhancing quality of products to meet international standards, and increasingly participating in the global supply chain.

Typically, Hoa Phat Group  invested 2 projects to improve the closed and modern production value chain of Hoa Phat Dung Quat Iron and Steel Complex Dung Quat. They’re Hoa Phat Dung Quat Iron Alloy Factory, with total investment of more than 3.000  billion dong (investment license issued in April 2018), the factory of post-steel products (pre-stressed steel) with total initial capital nearly VND 1,700 billion (investment license issued in July 2018). These factories are located next to the Hoa Phat Complex.

Or 6 projects of 6 Korean investors supporting Doosan Vina, with a total investment of more than 11 million USD. In August of this year, all 6 projects have simultaneously broke ground and are urgently completing procedures for their construction.

Nguyen Minh Tai – Chairman of DEZA visited South Sea Leather Dung Quat Plant.

VSIP Quang Ngai continues to be an attractive destination for FDI investors. Last year, VSIP Quang Ngai attracted 5 projects. Until now, VSIP Quang Ngai has attracted 22 projects with the total investment of over 723.6 million USD; Currently 9 projects are put into operation, creating jobs for more than 6,700 employees. After these 22 projects come into stable production, jobs for about 35,000 workers will be created.

In addition to industrial projects, Dung Quat EZ and Quang Ngai IPs has welcomed many projects in the field of tourism – trade and services. The main highlight is 5 projects of FLC Group invested in Van Tuong Urban Area, with a total registered investment capital of VND 12,470 billion, etc. Tourism and service development has been considered as a key task for the 2016-2020 period by Quang Ngai province. However, so far the province has not had any outstanding tourism products. The investment of FLC in Van Tuong urban area and surrounding areas will be the driving force for socio-economic development of the province and the central region.

Talking about the investment attraction in 2018, Mr. Nguyen Minh Tai – Chairman of DEZA said that: “The success of 2018 and the previous years is thanks to the renovation of the province as well as DEZA in investment promotion activities, when strengthening connections, meeting and directly “knocking on” investors’ door, promoting through existing investors who invested in Dung Quat EZ and Quang Ngai IPs, etc.”

The strategic orientations

It’s forecasted that in 2019, the situation of attracting investment in Dung Quat EZ and Quang Ngai Industrial Parks will be exciting. Currently, DEZA is guiding a number of potential investors to complete the application for approval of investment policies. In addition, the implementation of the project to upgrade and expand Dung Quat oil refinery and the electricity and gas projects have made important progress.

Sharing about the orientation to attract investment in the future, Mr. Nguyen Minh Tai said, DEZA will continue to focus on supporting investors to deploy their projects like: Hoa Phat Dung Quat Iron and Steel Complex; The project to upgrade and expand Dung Quat oil refinery; the projects of FLC Group; to cooperate with ministries, central branches and investors to soon deploy the projects of electricity and gas in Dung Quat EZ.

Le Han Phong – Vice Chairman DEZA issued investment certificate to Mensa Dung Quat.

At the same time, promoting on-spot investment activities, focusing on attracting investors from Japan, Korea, Singapore, and the US, etc. Closely cooperating with VSIP Quang Ngai to focus on attracting FDI light industrial projects. The priority will be given to sectors: large-scale heavy industry associated with Dung Quat deep-water seaport; petrochemicals, chemicals; logistics, infrastructure and port and warehousing services; investment in industrial zone infrastructure; tourism, urban-vacation, etc.

The groundbreaking ceremony of 6 Korean investors.

 “Besides attracting projects that Dung Quat Economic Zone and Quang Ngai IPs have comparative advantages, in the future, we will focus on attracting projects used gas from Ca Voi xanh field and the supporting projects  for the electricity and gas industry … ”- Mr. Tai added.

In parallel with the investment attraction, DEZA accelerated the progress of investment in infrastructure, gradually improving the infrastructure to attract investment. In particular, focusing on completing Tri Binh – Dung Quat Port; to start Dung Quat sand protection project (phase 2) and Dung Quat inter-port route 1; to continue to complete procedures to start Doc Soi – Chu Lai airport project to shorten the distance between Chu Lai airport and Quang Ngai province.

So far, Dung Quat Economic Zone and Quang Ngai Industrial Parks had 152 enterprises. In 2018, created new jobs for more than 5,054 employees. In total, Dung Quat Economic Zone and Quang Ngai IPs have created jobs for nearly 38,700 workers, in addition, there’re more than 5,000 employees working in construction and services in the area. The value of service and industry output reaches VND 129,000 billion, up 70% over the same period in 2017; state budget reached VND 13,700 billion, up 13.32% compared to the same period of 2017; Export turnover reached US $ 370 million, up 15.6% over the same period in 2017; Goods transported through the port reached 19.5 million tons.

By T.Giang

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