A conference was held on June 7 in central Quang Ngai province to introduce the region’s brimming potential to investors.

The event was co-organised by the province and the Ministry of Natural Resources and Environment.

Addressing the event, Vice Chairman of the provincial People’s Committee, Pham Nhu So, highlighted the local comprehensive road system as an advantage for socio-economic development.

The Dung Quat Economic Zone, covering an area of 45,000 hectares, is one of the five key national marine economic zones, So said.

Quang Ngai is home to nearly 20 industrial zones, clusters and trade villages with developed infrastructure facilities, according to So.

It also boasts the Dung Quat seaport, which is capable of handling 100,000 DWT ships; and the Vietnam-Singapore (VSIP) Quang Ngai Industrial-Urban-Service Complex with numerous incentives for investors, he added.

During the event, an agreement was signed between the Vietnam Chamber of Commerce and Industry (VCCI) and the Quang Ngai People’s Committee to strengthen support for local businesses.

Under the agreement, the two sides will facilitate access to financial sources for small- and medium-size enterprises, and improve the local investment climate to raise business competitiveness.

Trade promotion campaigns, staff training and domestic and international connections are also given priority among their joint efforts.

The same day, a number of investment licences were granted to key local projects, including the first phase of the VSIP Quang Ngai urban-service zone, with total investment of 1,200 billion VND (56 million USD); the Muong Thanh five star hotel and trade centre, 450 billion VND (21 million USD); and the Muong Thanh Ly Son hotel project, 250 billion VND (11.7 million USD), among others.

Quang Ngai, by the second quarter this year, had housed 300 domestic and foreign projects with total registered capital of 144 trillion VND (6.7 billion USD). Of these, 36 are foreign investment projects, worth more than 4 billion USD.

The province’s GDP recorded an increase of 2.9 percent from 2013, with the average per capita income reaching 2,215 USD.

The locality also contributed more than 26 trillion VND (1.2 billion USD) to the state budget in 2014.-VNA