Quang Ngai told to identify strengths to attract investment hinh anh 1Deputy Prime Minister Trinh Dinh Dung ​speaks at Quang Ngai province’s investment promotion conference on October 20 (Photo: VNA)

Quang Ngai (VNA) – The central province of Quang Ngai should specify its strong sectors and products so as to devise an appropriate investment attraction strategy, Deputy Prime Minister Trinh Dinh Dung said at the province’s investment promotion conference on October 20.

Quang Ngai attracted more than 88 investment projects with total registered capital of over 74 trillion VND (3.25 billion USD) between January and October this year. Six of the projects are foreign direct investments (FDI) worth 275 million USD. The 10-month project number rose by 37 while total investment capital surged 11 times from 2016.

Provincial authorities reported that to achieve that outcome, they have created the best possible conditions for investors by issuing numerous preferential mechanisms and policies such as those relevant to land rental, site clearance, infrastructure, manpower training, and administrative procedures.

Local officials said the province is situated in a strategic location which is part of the key central economic region. It boasts a synchronous infrastructure system, including Dung Quat deep-water seaport – an important gateway for import and export activities that is able to handle 100,000-tonne vessels.

Meanwhile, the Dung Quat Economic Zone, covering more than 45,000ha, is one of the five coastal economic zones receiving the Government’s prioritized treatment.

The province has also established many other industrial parks, industrial clusters and craft villages with infrastructure meeting investors’ demand, according to Quang Ngai authorities.

Speaking at the conference, Deputy PM Trinh Dinh Dung applauded the province’s efforts and achievements in socio-economic development and investment attraction.

He noted certain difficulties facing Quang Ngai but also recognised its advantages and potential. He told provincial authorities to draw investment into the processing and manufacturing industries, particularly support, oil refinery and chemistry, metallurgy and energy sectors.

Quang Ngai should develop sea-based economic activities, especially marine transportation, seaport services, sea and island tourism, and fisheries. It is also necessary to develop hi-tech agriculture and develop farm-to-table chains for farm produce, Dung added.

The Deputy PM also underlined the need to enhance Quang Ngai’s connectivity with nearby localities, especially Da Nang city, to devise development directions and policies for each locality as well as the central region. By doing so, investors in Quang Ngai will benefit from advantages of not only this province but also the whole region.

He asked for more efforts to develop infrastructure and human resources, step up science-technology application, enhance administrative reforms, and encourage start-ups.

Deputy PM Dung also called on investors to adopt long-term business strategies and adhere to their commitments while investing in Quang Ngai. They should live up to their corporate environmental and social responsibility to ensure sustainable development.

At the conference, the provincial People’s Committee presented investment decisions for 14 projects, including a dairy cow farm, a trade and supermarket centre, a hi-tech organic agricultural chain, and a gas liquefaction plant.-VNA