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New prospects in Dung Quat

      As one of the first established coastal economic zones in the whole country, Dung Quat Economic Zone has now affirmed its position and importance in the socio-economic development of Quang Ngai and the key economic in the Central of Vietnam.

In addition to the large-scale projects that have been invested, with preferential policies and enthusiastic support of the provincial leaders and the Dung Quat Economic Zone and Quang Ngai IPs  Authority (DEZA), Dung Quat Economic Zone and Quang Ngai Industrial Parks continues to welcome new waves of investment. In particular, the Hoa Phat Dung Quat Iron and Steel Complex, Doosan Vina and projects of FLC Group are the highlights of attracting investment.

Investment certificate granting ceremony for 4 investors in VSIP Quang in early 2019.

          Exciting new projects

Arriving at Dung Quat EZ on the last day of the year, I witnessed a very lively scene. On the port side, the import and export activities of the enterprises took place in a urgent manner. Also on the “great construction site” Hoa Phat Dung Quat Iron and Steel Complex, the construction progress is in a rush. In the fourth quarter of 2018, the first construction steel mill with a capacity of 600,000 tons/year was officially put into production. By the end of 2018, the sectors of Phase 1 such as No. 1 High Furnace, Coke Furnace, Blast Furnace 1, Thermal Power Plant 1, etc have completed about 70% of the workload. Phase 2 with capacity of 2 million tons per year and 200,000 DWT deep-sea seaport are also being actively constructed. All equipment lines are expected to be completed and operated synchronously at the end of 2019, early 2020.

According to economic experts, the project of Hoa Phat Dung Quat Iron and Steel Complex is considered a new “conductor” in attracting investment projects into Dung Quat EZ and Quang Ngai IPs. On the day of investment certificate for Hoa Phat Dung Quat Project (February 2017), Chairman of the Provincial People’s Committee Tran Ngoc Cang said that this project not only created jobs for thousands of workers, contributed greatly to the revenue in the province, improved the industrial proportion in the provincial economic structure but also attracted  supporting industry  investing in Dung Quat EZ, contributing to shifting Quang Ngai province towards a modern industrial province. And that is now becoming a true.

Chairman of the provincial People’s Committee Tran Ngoc Cang and Mr. Nguyen Minh Tai – Chairman of DEZA grant investment certificates to Hoya Lens Vietnam Co., Ltd.

After issuing the investment certificate for Hoa Phat Dung Quat Project, Dung Quat EZ has welcomed the project of industrial gas separation and liquefaction  of Messer Hai Phong Industrial Gas Co., Ltd. with a total investment of 90 million USD, at the beginning of the second quarter of 2019, the project will come into operation. In addition, many supporting projects for the Complex such as: Raw Water Supply Project (USD11.7 million), with the of scale of 100,000m³/day; The factory of manufacturing supporting equipment and parking facilities (USD 5.29 million) and other projects.

Located in the expanded Dung Quat Economic Zone, the project of VSIP Quang Ngai is also a highlight in attracting investment in Quang Ngai. Up to now, VSIP Quang Ngai has attracted 22 FDI investors from the US, Philippines, Hong Kong, Japan and some Southeast Asian countries with a total investment of 723.6 million USD. In VSIP , 9 projects are in operation, creating jobs for more than 6,700 employees. And it is expected that 3 more projects will go into operation in early 2019. It is estimated that there are 35,000 jobs when all 22 investors come into operation.

As for Doosan Vina, they has continued to affirm as a “magnet” to attract investment in Dung Quat EZ. In June 2018, 6 supporting Korean investors for Doosan Vina were granted investment certificates by DEZA, with a total investment of over 11 million USD; these projects currently broke ground in August 2018 and is urgently completing procedures for their construction.

The overview of Hoa Phat Dung Quat Iron and Steel Complex Complex.

What appeals to investors?

In the ceremony of granting investment certificates at the beginning of January 2019, sharing about investment decisions in Dung Quat Economic Zone and Quang Ngai IPs, Mr. Gil Tarias – General Director of Hoya Lens Vietnam Co., Ltd. said: In addition to the advantages such as deep sea ports, investment preferential policies, abundant human resources, etc,  there are also clean land and synchronous infrastructure available. It’s ready for them to build factories. That is the reason why the Group decided to invest in a strategic factory in Dung Quat EZ ”.

Along with favorable investment incentive mechanisms, Dung Quat EZ and Quang Ngai IPs have their own advantages to attract investors. It is a deep-water seaport system – an important gateway for importing and exporting of goods domestically and internationally. Specialized ports in combination with heavy industrial factories and general ports have been put into operation, meeting ships with a tonnage of 50,000DWT-100,000DWT. Currently, Hoa Phat Group is building a specialized deep-water seaport system meeting the need of vessels of 150,000 – 200,000 DWT. In addition, a system of general ports – container ports in Dung Quat EZ is being surveyed and set up.

Besides, the relatively large land fund for industrial development and the infrastructure in Dung Quat Economic Zone and Quang Ngai industrial Parks has been completed. Especially, the transport infrastructure connecting Dung Quat EZ with the key economic region in the Central such as Da Nang – Quang Ngai highway; Chu Lai airport expansion (phase I),etc. attract domestic and foreign investors.

In addition, Dung Quat Economic Zone and Quang Ngai Industrial Parks also possesses great potentials and advantages to develop tourism and services. In 2018, Dung Quat EZ and Quang Ngai IPs welcomed many projects in the field of tourism – trade and services. The main highlight is the projects of FLC Group invested in Van Tuong urban area, with a total registered investment capital of VND 12,470 billion, etc.

Mr. Dam Minh Le – Vice Chairman of DEZA said that, in recent years, in order to promote investment attraction, Quang Ngai province and DEZA have continuously improved the investment environment as well as administrative and investment procedures. In the performance of the tasks, DEZA’s staff always determines “investors and businesses are main objects to serve”; always accompany and actively support investors during their projects.

In 2018, Dung Quat Economic Zone and Quang Ngai Industrial Parks 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 the total investment of more than 809.6 million USD and 13 FDI projects with the total investment of more than 308.7 million USD. Up to now, Dung Quat EZ and Quang Ngai industrial parks has 301 projects, with a total investment of over USD 12 billion; including 54 FDI projects with a total capital of over USD 1.6 billion and 247 domestic projects with a total investment of more than USD 10.4 billion.

By T.Giang

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Editor:Mr.Dam Minh Le - Vice Chairman
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