Quang Ngai Committed to Accompanying Investors

3:05:34 PM | 20/6/2013

“Manufacturing companies in VSIP Quang Ngai Industrial - Urban Zone will be given preferential tariffs as applied to special investment as specified for Dung Quat Economic Zone,” said Mr Pham Nhu So, Vice Chairman of Quang Ngai Provincial People’s Committee and Director of Dung Quat Economic Zone Management Board, at the conference on “Quang Ngai - New investment opportunities.” The event was organised by the Quang Ngai Provincial People’s Committee and the Vietnam - Singapore Industrial Park Joint Venture Company (VSIP), the investor of VSIP Quang Ngai, in Ho Chi Minh City.


Speaking at the conference, Mr Cao Khoa, Chairman of Quang Ngai Provincial People’s Committee, said Quang Ngai lies in the dynamic central key economic zone, has a favourable geographic location, gathers good conditions for economic development, and has a seamless and synchronous transport infrastructure system. Specially, the province has Dung Quat Economic Zone - one of five coastal economic zones in the country and one of economic zones with best investment policies for investors now.


In addition, the province is also home to the country’s first oil refinery with an annual processing capacity of 6.5 million tonnes and Dung Quat deepwater seaport capable of accommodating vessels of 100,000 DWT. Apart from Dung Quat Economic Zone, Quang Ngai province also has four centralised industrial parks and 15 small-scaled industrial complexes with qualified infrastructure for production and business activities. In addition, with a large fishing ground of over 11,000 sq. kilometres and a 130-kilometre coastline, Quang Ngai is endowed with huge potentials for marine economic development and sea-based tourism. He stressed: "These are outstanding and convenient advantages for investors when they choose Quang Ngai to locate their projects.”

With abundant potentials and advantages, Quang Ngai quickly becomes the destination of very big domestic and foreign-invested projects which play an important part in the province’s strategy to become an industrial province by 2020 as specified in the Resolution of the 18th Provincial Party Congress. To date, the province has 289 licensed investment projects with a total registered capital of VND177.500 trillion (US$9 billion). Particularly, 22 FDI projects have a combined registered capital of US$3.9 billion. In the first quarter of 2013, the province granted investment certificates to three FDI projects worth US$16.54 million. Notably, Dung Quat Economic Zone is housing 111 investment projects with a total registered capital of over US$8.5 billion, of which US$5 billion has been disbursed. Largest investment projects include the more than US$2 billion capacity upgrading of Dung Quat oil refinery from 6.5 milli

VSIP Quang Ngai is the 5th project invested by Vietnam - Singapore Industrial Park Joint Venture Company and is the first VSIP investment project in central Vietnam. Advantaged by abundant labour resources in the province and neighbouring provinces, VSIP Quang Ngai is the ideal location for companies with nationwide market. Besides, investors can easily expand their markets to Laos, Northeast Thailand and Cambodia.

Key industries in VSIP Quang Ngai include foods, beverages, fast moving consumer goods (FMCG), electronic parts assembly and light supporting industries for oil, gas and chemical sectors. Manufacturing companies in VSIP Quang Ngai will be given preferential tariffs as applied to special investment as specified for Dung Quat Economic Zone.

on tonnes a year to 10 million tonnes invested by Binh Son Refinery and Petrochemical Company (BSR), the US$4.5 billion JFE - Japan integrated steel mill with an annual output capacity of 7 million tonnes, the US$2 billion 1,200-MW thermal power plant invested by Sembcorp Group of Singapore.


Mr Pham Nhu So, Vice Chairman of Quang Ngai Provincial People’s Committee, said the construction of VSIP Quang Ngai by Vietnam - Singapore Industrial Park Joint Venture Company (VSIP) is a leverage for the province to draw more investment capital, especially FDI capital. To attract domestic and foreign investors, Quang Ngai province will create favourable, open mechanisms for investors while providing overall and detailed planning for investors to choose their best investment plans. Apart from supporting investors with human resources training, the province will also focus on resolving land compensation, site clearance and resettlement. In the coming time, Quang Ngai will create clear land fund for investors. Especially, 600 hectares of industrial land in Dung Quat Economic Zone invested by VSIP will meet all requirements for ground and infrastructure from investors.


Chairman Cao Khoa of Quang Ngai Provincial People’s Committee, hoped many investors will choose Dung Quat Economic Zone and other industrial parks in the province, especially VSIP Quang Ngai Industrial - Service - Urban Zone. He added that “The government of Quang Ngai province will make every effort to overcome difficulties to accompany investors, actively support and facilitate investors to deploy and put into operation their projects quickly and efficiently, thus assuring investors when they do business in the province.”


                     Hong Hanh