New prospect for Dung Quat Economic Zone

Dung Quat Economic Zone and Quang Ngai Industrial Park are attractive destinations for domestic and foreign investors. It’s not only the driving force for economic development in Quang Ngai, but also the driving force for the development of the Central Key Economic Region.

Recently, the Prime Minister approved the task of adjusting the General Planning of Dung Quat EZ to 2035, with a vision to 2050. Thereby, opening up new prospects and opportunities for a breakthrough of Dung Quat in the coming years.

Developing Dung Quat deep-water port into a large-scale port in the Central region is one of the priorities of Dung Quat EZ.

Efforts to overcome difficulties

Member of the Standing Committee of the Provincial Party Committee, Chairman of DEZA Ngo Van Trong said: In 2020, Quang Ngai faces many difficulties and challenges because of the "double" impact of the Covid-19 epidemic; oil prices plummeted and were severely damaged by the storm No. 9. Dung Quat Economic Zone and Quang Ngai Industrial Parks is also greatly affected by these impacts, production and business activities of enterprises faces difficult. The promotion of investment attraction cannot be implemented as planned, greatly affecting the implementation of socio-economic development targets in the area. However, following the direction of the central and provincial levels, DEZA focused on implementing well the assigned tasks.

In 2020, Dung Quat Economic Z and Quang Ngai Industrial Parks has attracted 15 investment projects, with a total capital of 2,316 billion VND (about 100 million USD); including 2 FDI projects (64 million USD) and 13 domestic projects (837.5 billion VND); adjusted to increase registered investment capital for 7 projects (registered capital for investment increased by 2,052 billion VND). Thus, the total registered investment capital newly granted and adjusted in 2020 is 4,349 billion VND (189 million USD).

Up to now, in Dung Quat EZ and Quang Ngai Industrial Parks, there are 353 valid investment projects, with a total investment capital of 296,715 billion VND, of which 54 FDI projects, with a total investment of 1.88 billion USD and 299 domestic projects, with registered capital 254,638 billion. Currently, Dung Quat EZ and Quang Ngai Industrial Parks has 169 enterprises. By 2020, the output value of industry and services is estimated at VND 120,000 billion; contribution to the state budget is estimated at 10,500 billion VND; export turnover is estimated at 1 billion USD; creating new jobs for 5,050 employees.

Dung Quat Economic Zone is determined to become a multi-sector; National center for petrochemical refining and energy.

“In addition to supporting enterprises to remove difficulties and problems and in recruitment of employees, DEZA also regularly monitors and reviews certified projects. From the beginning of 2020 up to now, 8 projects have been terminated and revoked their Investment Certificates because of slow and ineffective implementation”, said Mr. Trong.

Expectations for the dynamic and breakthrough development

According to the general planning on construction of Dung Quat Economic Zone to 2035, with a vision to 2050, Dung Quat Economic Zone has a total area of 45,332ha, including 18 communes of Binh Son district, 2 communes of Son Tinh district, 2 communes of Quang Ngai City, the entire area of Ly Son island district and adjacent sea surface area. The target is to build Dung Quat EZ into a dynamic, breakthrough, modern, efficient and sustainable economic development area; be worthy of the position of a dynamic economic center of the Central Key Economic Region and of the whole country; closely link economic development with national defense and security assurance. To build Dung Quat EZ into a multi-disciplinary and multi-sector general industry development area; center for petrochemical refining, energy, heavy industry, airport logistics center, seaport, tourism and service center of Quang Ngai and Central key economic region, associated with the construction and exploiting effectively  of Dung Quat seaport; has a synchronous and modern system of technical and social infrastructure; architectural landscape space, a civilized and modern urban area, a sustainable environment and efficient land use.

To focus on attracting investment in industry and service

According to DEZA’s leaders, 2021 is a year of special importance, holding the XIII National Congress of the Party, the election of the XV National Assembly deputies and People's Council term 2021- 2026, is the first year implementing the 5-year socio-economic development plan 2021 - 2025. Therefore, the collective of DEZA’s office will focus their efforts, take advantage of opportunities, strive to fulfill the assigned targets and tasks, create a development momentum for the period 2021 - 2025 and the following years.

“One of the main objectives set by DEZA in 2021 is to focus on attracting investment in Dung Quat EZ and Quang Ngai Industrial Park in the fields of: Supporting industries; chain of projects for the production of steel products; projects with less risk of causing environmental pollution; logistics; energy; investing in infrastructure of industrial parks, eco-tourism zones, hi-tech agricultural zonesn etc. Besides, focusing on investment in building an international transshipment container line in Dung Quat EZ, developing Dung deep-water port Quat into a large-scale ports in the Central region, at the same time calling for potential investors to make synchronous investment in order to build a modern logistics center in Dung Quat EZ”, said Mr.Trong.

Producing high quality steel coil at Hoa Phat Dung Quat Steel Factory.

In 2021, DEZA sets a target to attract investment of 150-200 million USD; service industry output value reaches 148,000 billion VND; contributes 13,900 billion VND to the state budget; export turnover is 1.06 billion USD; create new jobs for 5,000 employees, develop plans to perform breakthrough tasks in the fields of industrial development, infrastructure development according to the resolutions of the Provincial Party Committee, Provincial People's Council and the action programme of the Provincial People's Committee so that Dung Quat EZ will continue to maintain its nuclear growth role in Quang Ngai. Besides, promoting administrative reform, streamlining the apparatus associated with the job position project. At the same time, formulating a project to adjust the general planning on construction of Dung Quat EZ to 2035, with a vision to 2050 in order to invest, build and develop Dung Quat EZ in line with the national development strategy in general and strategy of Vietnam's marine development in particular.

By T.Giang