Presenting a Dynamic and Prosperous Quang Ngai to Investors

Quang Ngai, located in key economic region of the dynamic central area of the country, owns the expanded Dung Quat Economic Zone with the area of 45,332 hectares, and is oriented to develop into a special economic zone and national petrochemical centre. Apart from Dung Quat Economic Zone, Quang Ngai has four industrial zones and 15 industrial complexes whose infrastructure can fully meet investors’ requirements. Particularly, the VSIP Industry - Service - Urban Complex of Vietnam – Singapore Industrial Zone Venture Joint Stock Company Limited, with an area of 1,746 hectares and investment capital of nearly VND3,800 billion, is one of the key areas of investment in the province.

 

Also, with large fish raising area of over 11,000 square metres and with a coastline of 130 kilometres, Quang Ngai has much potential to develop tourism sector and maritime economy. These are outstanding advantages for investors when choosing Quang Ngai as an investment location.

 

On the basis of the above advantages, to create faster growth momentum in the next years, in 2012, Quang Ngai focused on improving planning for industrial development. The province has completed the planning of industrial development towards 2020, with a vision to 2025; development planning of industrial clusters towards 2020, with a vision to 2025; and international economic integration draft in the period of 2011-2015 and towards 2020. Besides, the province also issued Development Plan of Dung Quat Economic Zone in the period of 2012-2015; 1/2000 detailed planning of VSIP Quang Ngai; detailed construction plan of the ratio of 1/2000 of heavy Dung Quat Industrial Park II, Binh Phuoc Industrial Park, Binh Hoa Industrial Park, etc. Along with planning, the province has also reviewed and adjusted mechanisms and policies, especially policies to encourage investment in the province and in the Dung Quat Economic Zone. Quang Ngai has advantage of tax incentives in Dung Quat Economic Zone, which is lower than that of other economic zones and industrial zones of other provinces in the country.

 

The initial success in attracting investment is investment strategy to East Asia and Southeast Asia. The shift has brought good sign in attracting investment to Quang Ngai, and at the same time proved steps in the right direction of Quang Ngai in promotion activities calling for investment in the current period . In addition to calling for domestic and foreign investment (Japan, Korea, Singapore), Quang Ngai province implemented many preferential policies to support and accompany investors. Results achieved in recent time have demonstrated efforts to attract investment of the province.

 

In 2012, Quang Ngai licensed 20 projects with a total registered capital of VND4,916 billion. As of June, 2013, the province has licensed 302 projects with a total registered investment capital of VND178,461 billion, of which there are 25 FDI projects with total registered capital of US$4.21 billion.

 

Since early this year, the IPC Quang Ngai has advised the leaders of Quang Ngai province to successfully organize many conferences on promoting investment, such as investment promotion conference with the National Youth Entrepreneurs; investment promotion conference of 9 provinces in the Central Coast, Vietnam - Singapore Business Forum. Also IPC Quang Ngai has coordinated with the Vietnam - Singapore Joint Venture Limited Company to successfully host the Conference on promting investment into Quang Ngai in Ho Chi Minh city.

 

Continuing to promote advertising and creating a good image of Quang Ngai in the eyes of investors in order to attract investment, in the last six months of 2013, Quang Ngai will attend the conference on tourism promotion to be held by the Coastal Coordination Centre in Nha Trang City (Khanh Hoa). Especially in September, 2013 the province will organise an investment promotion conference in Fukuoka Prefecture on the occasion of "Vietnam Day in Japan," to celebrate the 40th anniversary of the establishment of diplomatic ties between Vietnam and Japan.

 

In investment promotion, Quang Ngai always considers investors in Vietnam an important bridge to continue to promote and attract investment. Also the province focuses on improving provincial investment promotion techniques, implements investment activities, upgrades investment services through a campaign creating Quang Ngai’s image through diverse documents and publications whose authenticity, reliability, usability and accessibility is ensured.

 

Besides, improving human resources for the promotion of investment is also a critical issue at present. A clear policy and legal framework, basic promotion strategy and staff with experience and enthusiasm are guarantors for the effective implementation of investment promotion.

 

2012-2015 is a critical period for the successful implementation of the Resolution of the province’s 18th Congress Party. Quang Ngai strives to become an industrial province by 2020. Accordingly, investment promotion activities have to follow development orientation of the province and specific schemes, programs, plans of the Provincial Party Committee, resolutions of the People's Council.

 

In its strategy to attract investment, Quang Ngai urges investment in industry, and the urban and service fields, associated with the advantages of the province. The province gives priority to investment in projects in heavy industry and oil refinery in Dung Quat Economic Zone. Industrial parks are still attracting local projects in the fields of processing and supporting industry. VSIP Industry - Service - Urban Complex will attract projects in light industry and in producing construction materials. In other areas of the province, the service sector, tourism, urban development and education are encouraged to be invested in.

 

Quang Ngai focuses on businesses and organisations from Japan, Korea and Singapore. These are countries with strength in heavy industry, high-tech industry and supporting industries in line with the investment orientation of Quang Ngai. Quang Ngai considers Dung Quat Oil Refinery plant the centre of investment attraction.

To attract investors, Quang Ngai is focusing on promoting infrastructure development to expand Dung Quat Economic Zone. Dung Quat Port 2 is being built at the same time.In addition, Quang Ngai calls for investment in ancillary services, travel and tourism service, new urban areas in order to create a good investment environment for investors when choosing Quang Ngai.