Quang Ngai, the central province in Vietnam, will further develop itsindustrial sector in a bid to attract more investment in the comingperiod, stated a provincial official.
During an onlinedialogue with the Cong thuong newspaper regarding the development of theindustrial sector in Quang Ngai held in Hanoi on April 8, Pham Nhu So,the vice chairman of the People's Committee of Quang Ngai province andthe head of the management board at Dung Quat Economic Zone, noted thatafter 15 years of development, the Dung Quat Economic Zone has promotedeconomic development in the province and is considered one of the mostsuccessful and swiftly developing economic zones in Vietnam.
Theeconomic zone has attracted 113 projects with a total registeredcapital of 8.5 billion USD and disbursed capital worth 5 billion USD for73 projects operating in the zone.
The first heavyindustrial centre of Vietnam was developed at the Dung Quat EconomicZone and has plants of oil refinery, thermo-electric, steel, plasticpackage, ship building, biofuel, paper and cement, and a system of portsand industrial services.
Last year, the total value ofindustrial output and commercial services in the Dung Quat Economic Zonereached 130 trillion VND (6.19 million USD).
Therefore,the province has invested heavily into infrastructure at industrialzones and economic zones and has targeted to achieve a growth rate of17-18 percent each year in the industrial sector by 2015, So remarked.
QuangNgai plans to expand some existing economic zones to attract 5 billionUSD more in investment capital to the industrial zone, he added.
Theprovince has hired a Japanese consulting company to review a plan ofthe Dung Quat 2 deep-water port to further develop its industrialsector.
A Singaporean group has conducted an investmentstudy in the province in order to build an electric project with a totalinvestment of 2 billion USD and a Japanese investor also has a plan forbuilding a steel factory, So added.
Tran Dinh Thien, thedirector of Vietnam Economic Institute, stressed that Quang Ngai is oneof the most attractive places for investment in the central region.According to the provincial competitive index (PCI) in Vietnam, Da Nangin the central region ranks first, followed by the Thua Thien-Hueprovince, and Quang Ngai ranked seventh. To reach those places, the cityand provinces have policies to improve the business and investmentenvironment.
The Quang Ngai province has the advantage ofhaving deep-water ports, attractive investment incentives, and hasrestructured its economy to attract more investment, Thien claimed.
RyuhangHa, the general director of Doosan Vina Company, emphasised that thecompany has chosen the Dung Quat Economic Zone to develop its project ofproducing heavy industrial equipment for the sector of electricity,water, and chemical treatment, since the zone offers favourableconditions in providing services related to deep-water ports that thecompany needs.
Dung Quat offers fast site clearances andinvestment incentives for enterprises, including corporate tax andindividual tax, he reported.
Vu Quang Vinh, the seniormarketing director of Vietnam-Singapore Industrial Park (VSIP), statedthat VSIP has invested in Quang Ngai for developing an industrial parkbecause the province is an ideal place for manufacturing products forthe markets in north and south Vietnam, Laos, north-eastern region ofThailand, and Cambodia.
Nguyen Manh Quan, the head of theheavy industrial department of the Ministry of Industry and Trade,remarked that Quang Ngai has a geographical disadvantage, but its heavyindustrial sector has developed and has large projects because theprovince has created conducive conditions in infrastructure, policies,and administrative procedures.-VNA