The Dung Quat Economic Zone (EZ) in the central province of Quang Ngai is planning to become an important hub for the central and Central Highlands region, with an industrial output growth of 17-18 percent a year.

A plan recently approved by the Chairman of the provincial People’s Committeee aims to make the EZ multi-functional with focus on petrochemical, chemical, mechanical engineering, steel and shipbuilding and repair. Numerous other light and support industries will also be encouraged in order to increase investment in the zone to 13 billion USD by 2015.

Dung Quat EZ is also set to make the most of its deep water harbour to become a trade hub in the region. The port will be able to handle 25 million tonnes of cargo.

In order to reach this goal, the province is drawing up policies to attract more investors, while upgrading the local infrastructure and improving development planning and management. Attention will also be paid to developing human resources, creating “clean” land fund and simplifying administrative procedures.

From now until the end of this year the EZ will push for the deployment of several major projects, including the Dung Quat petrochemicals plant operated by the Vietnam National Oil and Gas Group; the Vietnam–Singapore industrial park; the Guang Lian steel mill; the Dung Quat Kumwoo heavy engineering works; the 1,200 MW thermo-electric power station run by Semcorp and several other urban projects.

Since its inception 15 years ago, Dung Quat EZ has attracted 115 projects valued at over 8 billion USD. So far this year, four projects have been licensed, with a total registered capital of over 46 trillion VND (2.2 billion USD).-VNA