Dung Quat Economic Zone was approved by the Prime Minister for a master plan with an area of 45,332 hectares in Decision No. 168/QD-TTg dated February 28, 2023. It is a comprehensive, multi-sector, multi-sector economic zone; has a national oil and gas refinery, energy, mechanical - metallurgy center and a large logistics center in the region to promote and effectively exploit Dung Quat deep-water port and Chu Lai airport; is an important hub for goods transportation and international trade in the region.
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| Hoa Phat Dung Quat Port. (Source: Quang Ngai Provincial People's Committee) |
Investment attraction mark
Identifying investment promotion and attraction as one of the key tasks, in 2023, Quang Ngai province has implemented many diverse and rich forms of investment promotion at home and abroad, to introduce and promote the image and information about the investment environment and policies. Support for businesses is also carried out regularly during the process of administrative procedures, as well as project implementation. In addition, investment management and support work has been focused on and implemented drastically and promptly. Departments, branches and localities have also coordinated to promptly resolve recommendations from investors and businesses.
In 2023, the rate of handling administrative records and procedures ahead of schedule by the Management Board reached 99.05%; 100% of the opinions were very satisfied and pleased with the process of handling administrative procedures at the Management Board. This has positively impacted the investment and business environment of Dung Quat Economic Zone and Quang Ngai Industrial Parks (IPs) in particular and Quang Ngai province in general.
During the year, the Management Board issued investment policy approval decisions, new investment registration certificates and capital increase adjustments for 25 projects with a total registered investment capital of over 1 billion USD. The investment attraction target exceeded the set plan by 621%, an increase of 791% compared to 2022.
Up to now, in Dung Quat Economic Zone and Quang Ngai Industrial Parks, there are 348 valid projects, with a total registered investment capital equivalent to 18.088 billion USD, of which 63 projects have foreign direct investment (FDI), with an investment capital of over 2.2 billion USD. In Dung Quat Economic Zone and Quang Ngai Industrial Parks, there are 253 projects in operation. In 2023, enterprises will achieve revenue of about 254,500 billion VND, contributing 24,786 billion VND to the budget. Creating jobs for about 68,250 workers.
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| Prime Minister Pham Minh Chinh visited officers and employees of Dung Quat Oil Refinery on January 1, 2023. |
Strong, effective and sustainable innovation
In the context of many international and domestic turning points, containing opportunities and challenges that are very different from the previous period. Reality requires the development of industrial parks and economic zones to be innovated more strongly, effectively and sustainably to adapt to the world and domestic context, in line with the socio-economic development strategy for the period 2021 - 2030, with a vision to 2045. Therefore, Quang Ngai province has built goals and strategies for industrial development in the direction of green development.
Firstly, regarding the development orientation of industrial parks, by 2030, Quang Ngai province plans to develop 10 industrial parks, including 6 industrial parks located in Dung Quat Economic Zone. The total land area calculated according to the development needs for these 10 industrial parks is 6,648 hectares. The development orientation of these industrial parks is based on the models of industrial parks - urban - services, supporting industrial parks, ecological industrial parks, high-tech industrial parks to maximize land resources and available advantages to develop Dung Quat Economic Zone into a specialized, green, smart and sustainable economic zone.
Second , in terms of investment attraction orientation, restructuring industries towards high technology, green industry, deeply participating in the global production chain; limiting "energy-intensive", "labor-intensive", "land-intensive, resource-intensive" industries, increasing "technology-intensive" industries. Accordingly, continue to exploit existing strengths and potentials in the fundamental industrial sectors (with the main sectors being petrochemical refining, chemicals, metallurgy and mechanical engineering) and promote the development of these sectors in depth, environmentally friendly and expanding along the value chain.
At the same time, promote the restructuring of industries towards green, highly competitive, create a breakthrough to improve productivity, rapidly increase the contribution of processing and manufacturing industries with high added value. In addition, attract diverse, modern and sustainable service industries; Form and develop coastal and island eco-tourism resorts, modern and world-class entertainment areas, develop Ly Son island district associated with Binh Chau and My Khe beaches to become a center of sea and island tourism.
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| President Vo Van Thuong attended the 10th Anniversary Ceremony of VSIP Quang Ngai on December 23, 2023. |
Efforts to achieve new goals
In 2024, the Management Board sets a target of attracting investment into Dung Quat Economic Zone and the province's industrial parks to reach about 200-300 million USD. In particular, Dung Quat Economic Zone and industrial parks focus on developing supporting industries for petrochemical refining, metallurgy, mechanics, manufacturing, food processing, beverages, wood processing, electricity - electronics; continue to attract supporting industries for the textile and garment industry; at the same time, promote the restructuring of industries towards environmental friendliness and expansion along the value chain, creating a breakthrough to improve productivity, rapidly increasing the contribution ratio of processing and manufacturing industries with high added value.
At the same time, attracting investment and creating momentum for the development of the Dung Quat Seaport Logistics Center in Dung Quat Economic Zone, linked to and serving import-export activities, supporting promotion activities, and connecting with provinces in the Central Key Economic Region.
Continue to urgently accelerate the implementation of Resolution No. 26-NQ/TW dated November 3, 2022 of the Politburo on socio-economic development and ensuring national defense and security in the North Central and Central Coast regions to 2030, with a vision to 2045 in Quang Ngai province, including: Actively coordinate with the Ministry of Industry and Trade to develop, complete, approve and organize the implementation of the Project to establish the National Refinery, Petrochemical and Energy Center in Dung Quat Economic Zone; Approve the Project to develop Ly Son island district, Quang Ngai province into a sea-island tourism center, in which priority is given to calling for investors with the potential to build infrastructure for Ly Son island.
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| President Vo Van Thuong and delegates gave the order to start construction of the Hoang Sa - Doc Soi Road Project on December 24, 2023. |
To strongly attract investors in the above orientation, the Management Board strengthens and innovates promotion work, creates an open and favorable investment and business environment, especially focusing on promoting industries and fields in which Dung Quat Economic Zone and Quang Ngai Industrial Parks have advantages.
Along with synchronous investment in infrastructure in Dung Quat Economic Zone and Quang Ngai Industrial Parks, focus on supporting businesses to develop human resources in a sustainable and effective manner. Continue to promote administrative procedure reform, improve the effectiveness of state management by digital technology. Replicating legal support models associated with thematic dialogues, guiding and supporting businesses to comply with regulations in production and business activities.
Efforts to support large-scale, key projects such as VSIP Quang Ngai Industrial Park projects, Hoa Phat projects, Dung Quat Oil Refinery upgrade and expansion project, construction investment implementation...
In addition, focus on attracting businesses with experience and capacity to invest in infrastructure of industrial parks, urban service areas, and tourism. The infrastructure projects of industrial parks are the premise to attract secondary projects, especially FDI projects and investment projects of overseas Vietnamese in Dung Quat Economic Zone and Quang Ngai Industrial Parks.
With the available potential, advantages and development foundation, along with the attention, orientation and support of the Central Government, the determination of the leaders of Quang Ngai province, in the coming time, Dung Quat Economic Zone will enter a new development phase in the direction of "specialized, green, smart and sustainable economic zone", continuing to be the driving force and the growth nucleus of the socio-economic development of Quang Ngai province and the key economic region of the Central region. Quang Ngai in general and Dung Quat Economic Zone Management Board in particular hope to receive the attention of investors to research, survey and invest in Dung Quat Economic Zone, Quang Ngai Industrial Parks for cooperation and mutual development.
Quang Ngai is a coastal province in Central Vietnam with 130 km of coastline, with a synchronous transportation system, favorable for investment development, such as the expressway connecting Da Nang - Quang Ngai, National Highway 24 connecting the Central Highlands and Southern Laos provinces, Chu Lai airport, Dung Quat deep-water seaport. Quang Ngai is an area with many leading industrial parks and economic zones in the country... All of these contribute to making Quang Ngai an important gateway for the import and export of goods domestically and internationally. In addition, the province has the potential to develop rich, diverse tourism, with many ethnic cultural identities, many historical relics, cultural sites, many natural and geological landscapes spread across the mountains, plains, and seas. Quang Ngai also has many rich and unique cuisines. Friendly people. In the coming time, Quang Ngai will continue to focus on attracting high-tech industries, clean industries; supporting industries, logistics and labor-intensive industries, energy and renewable industries. For agriculture, priority will be given to attracting investment in clean agricultural products, organic agriculture, high-tech applications, biotechnology, and seafood preservation and processing facilities. Special attention will be paid to tourism and services, actively attracting investment, especially investors with resources to invest in large-scale, modern tourist areas and destinations; attracting investment in healthcare, education and social security projects. |
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