Dung Quat Economic Zone is ready to welcome a new wave of investment.

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After a period of active preparation and appraisal, a number of zoning planning in Dung Quat Economic Zone have been approved, creating conditions to welcome a new wave of investment, serving the province's socio-economic development.

To focus on completing zoning planning.

After the Prime Minister decided to approve the adjustment of the General Planning for the construction of Dung Quat Economic Zone until 2045 (Decision No. 168/QD-TTg dated February 28, 2023), the Provincial People's Committee assigned tasks to the Dung Quat Economic Zone and Quang Ngai industrial Parks Authority (DEZA) carry out the task of preparing zoning plans.

Up to now, DEZA has prepared, submitted for appraisal, and approved 4/9 construction zoning planning of 1/2000 scale. There are currently 5 zoning planing that will be approved from now until the end of the year, including Binh Hoa- Binh Phuoc Industrial Park; Dung Quat II Industrial-Urban Service Park; Northwest Dung Quat Urban-Industrial-Service Area; Dung Quat Eastern Mixed Service Area; and Dung Quat Eastern Industrial Park.

After the zoning plannings approved, many specific projects were attracted, arranged according to principles suitable to the functions of each subdivision. In the first six months of 2024, thorough construction planning at a 1/500 scale was approved for three projects, while construction permissions were given for seven. Currently, many investors are proposing to invest in new projects in the Dung Quat Economic Zone. DEZA is reviewing and selecting projects on the province's priority list to attract investment.

Specifically, priority is given to attracting three projects related to waste treatment and water supply, including the Tinh Phong Household Waste Treatment Plant combined with electricity generation, the Integrated Waste Treatment Complex, and the Dung Quat 2 Water Plant; urban, commercial, and service infrastructure investment projects, including the Urban-Service Area South of Chu Lai Airport, Ly Son new urban area, and Southeast Dung Quat new urban area (north), Southeast Dung Quat new urban area (south), and Northern Dung Quat port logistics; investment projects in worker housing and commercial housing; investment in tourism, urban areas, and resorts; Regarding industrial park infrastructure, priority will be given to attracting six projects in accordance with the plan.

Expect a new wave of investment

In the first six months of 2024, Dung Quat Economic Zone granted investment certificates for two new projects. These are Hengda Vietnam Packaging Factory in Quang Ngai and Jaydee Furniture Manufacturing Factory in Quang Ngai, with a total registered capital of about 348 billion VND.

According to DEZA, the reason for the lack of investment attraction is that projects have not completed investment procedures, and some locations registered for project implementation have not completed legal planning.  “It is expected that in the last 6 months of 2024, DEZA will approve investment policies and issue investment registration certificates for a number of projects, with a total registered capital of about 4,000 billion VND, equivalent to 157 million USD, 10 times higher than the total registered capital in the first 6 months of 2024," said Vice Chairman of DEZA Dam Minh Le.

Currently, there are 2 investors who are willing to invest in industrial park infrastructure that DEZA wholeheartedly supports in implementation: Gilimex Quang Ngai Industrial Park Joint Stock Company, which registers the investment in construction and business of industrial park infrastructure (450 ha), and Phat Dat Real Estate Development Joint Stock Company, which has the infrastructure investment project in Phat Dat-Dung Quat 2 Industrial Park (455 ha).

Along with that, DEZA has been focusing on supporting and urging investors to implement projects that have been granted investment certificates on schedule.

In particular, large-scale and pervasive projects such as: VSIP 2 Quang Ngai Industrial Park (under compensation and site clearance); Hoa Phat Dung Quat 2 Iron and Steel Production Complex (expected to go into trial operation at the end of the year with 1 line and a capacity of 2.3 million tons per year); upgrading and expanding Dung Quat Oil Refinery (108 hectares have been handed over to investors to implement the project); Dung Quat urban and industrial area; Binh Hoa light industrial park; Binh Phuoc. In addition, DEZA will focus on reviewing and handling investment projects that are behind schedule, prolonged, and ineffective in order to find solutions, thereby creating opportunities for more capable investors.

By T.Giang