Quang Nam Growth Boosted by Internal Resources

9:46:57 AM | 25/5/2020

Chairman of the Quang Nam Provincial People’s Committee, Mr. Le Tri Thanh, affirmed that the provincial government consistently regards the success of enterprises as the success of the province, and always treats all domestic and foreign investors fairly and transparently. That is why Quang Nam is emerging as a very dynamic engine of socio-economic growth and investment attraction.

Quang Nam has a very favorable geographical position to link with other localities of Vietnam and other countries in the region. As one of five provinces and cities in the central key economic region, the province adjoins Danang City to the north, Dung Quat Open Economic Zone of Quang Ngai province to the south, Central Highlands provinces and Lao PDR to the west, and the East Sea in the east (125-km coastline). Trans-national roads and railways were invested synchronously and modernly.

New infrastructure look

The goal of the entire people and the government of Quang Nam is to make Quang Nam a developed province of the country. Therefore, in each reform process, Quang Nam always focuses on sturdy internal steps by focusing on infrastructure construction. Up to now, its infrastructure system has improved significantly to better meet socioeconomic development requirements. Its road traffic system has been increasingly fortified and expanded. Ky Ha - Tam Hiep Port, a deep water port, is capable of receiving ships of 20,000 tons and is being invested to serve ships of 30,000 tons. Chu Lai Airport was well invested to welcome nearly 1 million passengers a year and will be invested to serve international flights to carry passengers and freights in Southeast Asia and East Asia. Power, water and telecommunications networks were invested, to project boundaries. The irrigation system was constantly upgraded to ensure the quick response to natural disasters, floods and climate change.

Quang Nam province is submitting to the Prime Minister for approval a revised plan for construction of some facilities in Chu Lai International Airport, aiming to make the airport a hub of aviation industry and services and a major  center for cargo transportation in the region from now to 2030. Currently, Quang Nam is proposing building Chu Lai Airport into the largest civilian pilot training center in the country, a logistics center with airborne import and export freight transportation for major industrial parks in the province. The province is building a deep water port project in Tam Hiep commune, Nui Thanh district, to receive ships of 50,000 tons, promoting the development of logistics services in Chu Lai Open Economic Zone with a total investment fund of VND1,400 billion, and turning Ca Voi Xanh field into a US$10-billion gas-fueled power development center in the central region.

Harnessing potential and advantages

Quang Nam has a large land fund for new investment projects. The province is home to Chu Lai Open Economic Zone, Nam Giang Border Gate Economic Zone, eight industrial parks and 92 industrial clusters ready for investors. Hoi An Ancient City and My Son Sanctuary were recognized as cultural heritages by UNESCO. In addition, it has Cu Lao Cham biosphere reserve, and Ngoc Linh and Song Thanh nature reserves. In particular, Quang Nam is in the golden population period (nearly 01 million people at working age, accounting for 61% of the population). Its workers are industrious, ethical and well-disciplined.

The province always actively seeks new innovative ways to support investors and businesses when they carry out projects. With efforts of local authorities and people, in three consecutive years, from 2016 to 2018, Quang Nam's Provincial Competitiveness Index (PCI) was among Top 10 provinces. Those are solid premises for Quang Nam to gradually become an attractive business destination for domestic and foreign investors. To date, the province has more than 7,000 operational businesses, many of which are classified national and regional scale and have joined global value chains.

The province bases on the list of investment projects announced on its website to call for investors. Quang Nam is giving priority to infrastructure development in industrial zones and transport infrastructure; mechanical engineering industry, supporting industries for automobile, apparel and footwear industries; and high-tech smart cities. In the coming time, the locality will select highly competitive products, join global value chains, transfer modern technology, diversify investment forms, improve service quality rather than attract new projects, use high-quality human resources and top-notch technical experts of the world to create breakthroughs in sustainable development strategies.

Source: Vietnam Business Forum