Quang Ngai – riding the tide of investments

Update: 22:36 | 26/06/2020
TGVN. Quang Ngai is using its five “available” resources of natural resources, geo-economics, infrastructure, culture and human resources to rise above and become the location for foreign investors.
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Vice-Chairman of Quang Ngai People's Committee Vo Phien received Mr. Apirat Sugondhabhirom, Consulate General of Thailand in Ho Chi Minh City.

A crucial gateway

Quang Ngai is in a strategic position, as it lies in the key economic region of Central Vietnam and the economic corridor East-West, with a total area of 5,135 km2, a population of nearly 1.3 million people and pieces of vast, rich lands spread through the entire area. This is a major potential for Quang Ngai to develop agriculture, industries, tourism, services and island economy. In addition, the province can develop, explore, harvest and cultivate aquaculture, as it possesses an 11,000 km2 of fishing-ground, a 130-kilometer of coastline with plentiful aquaculture.

Gifted by nature, Quang Ngai also has beautiful, poetic beaches and white, seemingly endless shoals. The combinations of opulence topography with tropical weather, the land of Quang has a diversified ecosystem, dozens of scenic features and landmarks such as the Ca Dam mountain, White waterfall. In addition, geographical heritage, highly accounted by scientists, archeologists and historians, including Ly Son, Binh Chau areas have combined to create a unique 12,760-hectare Geopark for tourism.

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Ly Son Island to restore giant whale skeleton

In addition, Quang Ngai has an interconnected, thorough system of transportation infrastructure, with national highway 1A, 21A connecting the Central Highlands, Southern Laos, Myanmar and Northern Thailand. The center of Quang Ngai city is only 30 km away from the Chu Lai International Airport, which will possess the capacity of 5 million tons/year by 2025.

In addition, Dung Quat deep water port has the capacity to dock a 100,000-ton ship and is an important gateway for national, international imports and exports.

To ride the tide of investments

Regarding investment attraction, Quang Ngai has 45.300-hectare Dung Quat Economic Zone, which is among the 5 economic zones prioritized by the Government for building infrastructure, with the highest preferential treatment in Vietnam.

At the moment, Dung Quat Economic Zone has attracted major, high-tech application projects like the Dung Quat Refinery, with a production capacity of 6.5 million tons/year and soon, 8 million tons/year; Hoa Phat – Dung Quat Steel Complex with production capacity up to 4 million tons/year; factories of Doosan Heavy Industries with registered capital of 315 million USD; the VSIP Industrial – Urban – Service complex…

Moreover, Quang Ngai also has 4 industrial areas and 15 industrial clusters, villages with invested infrastructures that could satisfy the needs of investors. Among those, the VSIP complex with a total area of 1.746 hectares has been evaluated as a modern model of an industrial area.

By May 2020, the province has 64 foreign direct investment (FDI) projects, with registered capital of 1,874.63 million USD. At a time when the attraction of FDI has been difficult, Quang Ngai has focused on attracting investments from countries with a steady history of investing in Vietnam such as Japan, South Korea, Singapore, Taiwan (China), the United States, European Union and ASEAN countries.

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Six of Vietnam’s most beautiful must-see islands

Specifically, the province focused on the quality aspects of the projects, prioritized in sectors such as heavy industries, light industries including petrochemical refinery – chemicals; energy (electricity, gas); metallurgy, ship repairment, mechanical engineering; food industry, consumer product, packaging, garment and textile, shoe leather, construction materials; components manufacturing, automobile assembling, electronics and electronic devices production; Supporting industries; logistics services; Seaport investments, businesses and services; businesses related to the infrastructure of industrial and urban areas; Services and tourism and high-tech agriculture.

In order to attract investment effectively, Quang Ngai has actively assisted businesses in resolving difficulties and challenges to accelerate the deployment of these projects, creating the utmost favorable conditions to invite investment projects to Quang Ngai, increasing investment promotion “on the spot” to improve on quality and effectiveness of investments.

Quang Ngai has also focused all of its resources, robustly improved its investment and business environment, promoted reforms on administrative procedures; invested on building infrastructures and utilities; organized investment promotion for sectors with comparative advantages; increased investment promotion by countries, territories and made efforts to advertise, spread the word to continue its role of as the “magnet” that would pull domestic and foreign investors to its poles.

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My Ai Tran Thi

Director of Quang Ngai Department of Planning and Investment