Quang Ngai looks for investors in large-scale heavy industry

Republic of Korea investors receive investment licences in Quang Ngai (Photo: VNA)

Quang Ngai (VNA) – The central coastal province of Quang Ngai wants to attract foreign investors in large-scale heavy industry related to deep-water sea ports which is an advantage of the province.

Director of the provincial investment promotion centre Nguyen Duc Thanh added that Quang Ngai also hopes to engage investors in developing light industry to produce products for export, support industry and environmentally-friendly projects.

The province is currently home to 44 valid foreign-invested projects with total capital of nearly 1.37 billion USD, mostly from the Republic of Korea, China, Japan and Singapore.

Foreign-invested enterprises in Quang Ngai are employing around 12,000 workers.

According to head of the external economic section under the provincial Department of Planning and Investment Tran Hoang Vinh, during 2005-2010, nearly 3.7 billion USD of foreign direct investment (FDI) was poured into 17 projects in Quang Ngai. However, during 2011-2016, the province attracted only 599 million USD in 34 projects.

Vinh said the two largest projects in Quang Ngai are the Doosan Heavy Industries Vietnam with an investment of 315 million USD and the Vietnam-Singapore Industrial Park (VSIP Quang Ngai) capitalised at 139.8 million USD. They are operating effectively, contributing to local socio-economic development. 

Quang Ngai hopes to find potential investment partners in Japan, the RoK, Singapore and Thailand through businesses operating in the province.

Public agencies in the province are making drastic efforts to reform administrative procedures, which coupled with the province’s numerous incentives are hoped to attract more foreign investors to Quang Ngai, Director of the provincial investment promotion centre Nguyen Duc Thanh said.-VNA