According to the Head of the Management Board of Dung Quat Economic Zone and the Provincial Industrial Parks (Management Board) Tran Van Man, in the first quarter of 2025, the Management Board issued decisions approving the investment policy and approving investors for 3 new projects, with a total registered investment capital of VND 1,589 billion (over 62 million USD). These are the projects: Xuan Son Seafood Processing Factory - Branch of Xuan Son Food Import-Export Company Limited; Amazing Ecotech Textile Quang Ngai Factory and the Dung Quat 2 220kV Transformer Station project, along with the Dung Quat - Dung Quat 2 220kV line. At the same time, 4 projects were also adjusted to increase capital, with an additional capital of more than VND 532 billion. The total newly registered and increased investment capital is more than 82 million USD, reaching nearly 30% compared to the 2025 plan.
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| Workers at Vinatex Dung Quat Garment Factory (Saigon - Dung Quat Industrial Zone, Dung Quat Economic Zone) produce export goods. Photo: TN |
Currently, the Management Board is actively supporting investors to submit to the central government for consideration and issuance of investment policy decisions for two projects: Dung Quat Southeast New Urban Area - South and Dung Quat Southeast New Urban Area - North. These two projects are being consulted by the Ministry of Finance for additional opinions from relevant ministries and branches for consideration and appraisal before reporting and submitting to the Prime Minister for approval of investment policy according to regulations.
In the first quarter of 2025, Dung Quat Economic Zone received positive signals with the commencement of the Dung Quat Petroleum Mechanical Service Area project and the groundbreaking ceremony of VSIP II Quang Ngai Industrial Park. In addition, during the working program in Quang Ngai, the Prime Minister's visit and working session with Hoa Phat Dung Quat Steel Joint Stock Company and the request for Hoa Phat Group to study the construction of railway tracks for the urban railway and the North-South high-speed railway showed the Government's interest in the development of Dung Quat Economic Zone, as well as Quang Ngai province. Currently, the Management Board is making efforts to support investors in completing the necessary legal procedures for the Hoa Phat Dung Quat Railway Rail and Special Steel Factory project. It is expected that in April 2025, the investor will organize the groundbreaking ceremony for the factory to promptly produce railway rail and special steel products to serve key national transport projects.
According to the Project on adjusting the overall planning of Dung Quat Economic Zone until 2045 approved by the Prime Minister, Dung Quat Economic Zone has an area of over 45 thousand hectares, one of the five coastal economic zones with many potentials and advantages. Dung Quat Economic Zone currently has 11 functional sub-zones, including the fields of industry, urban, service, eco-tourism, associated with airport logistics services, seaports, clean agriculture applying high technology. In particular, with the planning of Dung Quat Economic Zone covering the entire Ly Son island, the province has planned a strategy to turn Ly Son into a dynamic and developing coastal city in the future.
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| Dung Quat Petroleum Mechanical Service Area project has just started construction in early March 2025. Photo: TN |
Currently, the development focus of Dung Quat Economic Zone is the petrochemical and steel rolling complex, with the core being the Dung Quat Oil Refinery (currently being invested in expanding its capacity to 7.6 million tons of crude oil/year) and the Hoa Phat Dung Quat Iron and Steel Complex 1 and 2. Of which, Complex 1 with a capacity of 6 million tons/year has come into operation; while Complex 2, with a designed capacity of 5.6 million tons of high-quality hot-rolled steel coil/year, has completed the installation of phase 1 equipment and is preparing to put into trial operation.
A representative of Hoa Phat Group said that when the Complex 2 project comes into operation, it is expected to bring in large revenues, create jobs for over 8,000 workers and strongly promote the development of mechanical and supporting industries. To meet the smooth operation of these two steel rolling projects, Hoa Phat Group needs about 7 factories producing supporting products.
| Currently, in Dung Quat Economic Zone, there are 6 industrial parks, of which the occupancy rate is from 87 - 99.1%, including Tinh Phong Industrial Park, Saigon - Dung Quat subdivision and VSIP Quang Ngai. The other 3 industrial parks, Dung Quat 1 Industrial Park, Binh Hoa - Binh Phuoc Light Industrial Park and VSIP II Quang Ngai, are implementing infrastructure investment. In the coming years, when these 3 industrial parks are completed, it will create a large industrial development land fund, meeting the needs of enterprises and contributing to attracting strong investment in Dung Quat Economic Zone, as well as Quang Ngai province. |
VSIP Quang Ngai Industrial Park, invested by VSIP Quang Ngai Company Limited, has been in operation for more than 10 years and currently attracts more than 44 enterprises from many countries and territories. VSIP II Quang Ngai Industrial Park, which recently broke ground (March 12), will focus on infrastructure construction. VSIP II Quang Ngai Industrial Park, phase 1, with a scale of nearly 500 hectares and a total investment of nearly 3,800 billion VND, promises to be an attractive destination for investors when completed, creating jobs for about 50,000 workers and making a great contribution to industrial development and economic growth of Quang Ngai.
The development of Dung Quat Economic Zone not only creates economic momentum but also contributes to stabilizing the lives of local people. The combination of infrastructure investment, reasonable policies and timely support from provincial leaders will be the key to helping Dung Quat Economic Zone and Quang Ngai rise up, affirming their position in the country's economy.
T.NHI - X.HIEU
Source: https://baoquangngai.vn/kinh-te/202504/co-hoi-moi-o-khu-kinh-te-dung-quat-81717e1/
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