Dung Quat Economic Zone Attracts Many Investment Projects

The construction of the Dung Quat oil refinery, the first of its kind in Vietnam, has generated positive impacts on attracting and speeding up investment projects in the Dung Quat Economic Zone.

 

The economic zone had only 52 projects with a total capital of VND32 trillion (US$1.82 billion) in the 2001-2005 period while most other investors came to study the zone. When the Dung Quat oil refinery was initiated, investors rushed to invest in the economic zone. In 2007, the Dung Quat Economic Zone attracted 126 projects with a total registered capital of VND140 trillion (US$8 billion) in 2007. In 2008l, the zone housed 157 projects worth US$10.3 billion. Of the total, 44 projects are operational and 33 projects are underway.

 

The presence of the Dung Quat refinery brought Quang Ngai from the 37^th position to one of the five provinces and cities with largest investment capital in the country.

 

According to statistics, the FDI capital rose 56 per cent annually. At present, Quang Ngai province has 18 FDI projects with a total registered capital of nearly US$3.4 billion.