Deep-water seaport, specialized port system, synchronous transportation from railway, aviation, road, preferential tax policy... are the huge advantages that Dung Quat offers to investors.
Hoa Phat Group invested in a billion-dollar steel production complex project in Dung Quat and is developing strongly - Photo: TRAN MAI
Dung Quat Economic Zone is located in the middle of the country, with great advantages ensuring that investors who set up factories and companies here can operate long-term. In fact, domestic and foreign "eagles" such as Doosan, Hoa Phat, Petrochemical Refinery... have developed remarkably since coming to Dung Quat.
Irresistible advantages in Dung Quat
30 years since the late Prime Minister Vo Van Kiet chose Dung Quat as the location for the No. 1 oil refinery, the economic zone has developed rapidly.
Dung Quat Economic Zone is located between the two ends of the country, with a synchronously invested main traffic system; national highways, North-South expressways, and North-South railways passing through; 90km from international maritime routes, 30km from inland maritime routes; is the gateway to the East Sea of the East-West economic corridor; located next to Chu Lai airport and Chu Lai Open Economic Zone, closely linked with Chu Lai Open Economic Zone to promote potential and advantages.
Second, Dung Quat has a distinct advantage as a deep-water seaport, with a system of specialized ports and a modern, synchronously invested general port that can receive ships with a tonnage of up to 200,000 DWT, meeting the needs of transporting import and export goods internationally.
Third, Dung Quat has beautiful beaches, along with many scenic spots, conveniently connected to Ly Son island district, convenient for large investors to develop urban - service - tourism.
Fourthly, after the overall adjustment of the General Planning for Construction of Dung Quat Economic Zone to 2045 was approved by the Prime Minister in Decision No. 168 dated February 28, 2023, 4/11 zoning planning projects have been approved.
It is expected that the remaining zoning plans will be approved by the first quarter of 2025. A huge land fund for industrial - urban - service development is opened for investors in many different fields.
Up to now, Dung Quat has attracted 350 valid investment projects, with a total registered investment capital of about 396,800 billion VND, including 66 FDI projects.
The realized capital to date is approximately over 12 billion USD. With 212 enterprises operating stably, creating jobs for 74,000 workers. This is the local production force, an important foundation for investors to feel secure about the production force when investing in Dung Quat.
Dung Quat deep-water port with many wharves is a favorable condition for investors to set up factories in Dung Quat - Photo: TRAN MAI
The large Dung Quat Port can receive ships with a capacity of up to 200,000 DWT – Photo: TRAN MAI
Preferential policies and development orientation in Dung Quat
Corporate income tax in Dung Quat is preferential at 10% for 15 years. Tax exemption for 4 years, 50% reduction of tax payable for the next 9 years; tax exemption for imported goods to create fixed assets of the project.
Exemption from import tax for a period of 5 years from the date of commencement of production for raw materials, supplies, and semi-finished products that are not yet produced domestically and are imported to serve the project's production.
Dung Quat is considered the industrial capital of the Central region. Therefore, the growth model still takes industrial development as the main pillar. Along with that is the orientation of strongly developing tourism and services based on the beautiful landscapes in the region as a driving force for growth. Dung Quat also invites investors to develop urban areas to connect the economic pillars of organic symbiosis.
The key strategy of Dung Quat Economic Zone is to promote the development of transport infrastructure. Including building axes directly connecting to seaports, airports, and coastal areas; forming key tourist centers; linking internal road traffic with national traffic (North-South Expressway, National Highway 1).
Forming service urban areas and tourist urban areas according to smart urban and ecological urban models. Linking urban development with housing development for workers, resettlement and social security for people in the project area.
Prioritize the use of new environmentally friendly technology; develop renewable energy (wind, solar power, thermal energy, etc.). Preserve and restore the ecosystem in the area.
The production workforce in Dung Quat is sufficient to meet the needs of businesses – Photo: TRAN MAI
Dung Quat Economic Zone Management Board always supports investors
According to Mr. Nguyen Hai Truong - Deputy Head of the Management Board of Dung Quat Economic Zone and Quang Ngai Industrial Parks, from the general orientation of the country, region and Quang Ngai province, with current potential and strengths, we will focus on building Dung Quat into a specialized, green, smart and sustainable economic zone.
Mr. Truong said that in order to develop commensurate with the available potential and advantages, in the coming time, Dung Quat Economic Zone Management Board will focus on implementing key solutions, strictly and effectively implementing approved plans, such as provincial planning; economic zone construction planning; zoning planning; national and regional planning...
Focus on mobilizing and effectively using resources to invest in and develop a shared infrastructure system with regional and inter-regional connectivity. Coordinate and connect with localities in the region to promote investment. Form industry clusters at the provincial and regional level. Promote the application of information technology and digital transformation.
“Dung Quat’s direction is still to invest and develop into a specialized, green, smart and sustainable coastal economic zone, becoming one of the key coastal industrial centers of the region; forming a container route at Dung Quat port; clean land fund to attract strategic investors,” said Mr. Truong.
Dung Quat is ready to open its doors to welcome resources and attract businesses to invest in and operate technical infrastructure in economic zones, industrial parks, and industrial clusters. Mobilize resources to develop the transportation system according to the plan, prioritizing key projects with widespread impact.
Mr. Truong said: “The management board is ready to listen and support investors with all project procedures. Innovate investment promotion and support work, gradually transform the model of Dung Quat Economic Zone, develop in a smart, ecological and highly efficient direction.”
Dung Quat is an economic zone with a sea frontage, a favorable condition for production. There are also preferential tax policies for investors – Photo: TRAN MAI
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