The province’s industrial areas are a significant factor in creating a strong investment environment

According to its development plan for the decade, Quang Ngai is to become a more developed province with a digital, green, and circular economy.

It is currently a modern industrial province with two key sectors of petrochemical refining and steel metallurgy, and will gradually form green and high-tech industrial parks (IPs).

Chairman of Quang Ngai People’s Committee Dang Van Minh said that to realise these goals, the key task for the province was to invest in modern infrastructure.

“Priority will be given to key traffic projects, adapting to climate change, ICT, and creating a digital transformation platform. The province will also mobilise and effectively use resources to promote industrial development, and allocate resources obtained from industry to stay in line with modernisation trends,” Minh said.

Developing high-quality human resources with a focus on scientific staff is critical, as is improving the quality of human resources, applying technology and digital transformation in all areas of the economy.

The province also determined a plan to organise socioeconomic activities to promote all its advantages, including four strategic economic corridors, and six dynamic economic spaces covering marine, urban, forest, industrial, and island spaces.

Meanwhile, the province’s two growth centres are Dung Quat Economic Zone (EZ), set to be a national refining, petrochemical, and energy centre; and Ly Son island district, to become a sea-island tourism centre.

The province’s three urban centres consist of the central area with Quang Ngai city as the core, the northern urban centre with Binh Son town as the nucleus, and the southern centre with Duc Pho town as the heart.

In the short term, rapid development is based on focusing on industries and fields with existing advantages. In the medium and long term, resources will be used to support the development of industries and fields consistent with green and sustainable development trends.

The province is focusing on exploiting its existing strengths in industrial fields, such as petrochemical refining, chemicals, metallurgy, and mechanical manufacturing. At the same time, it hopes to be environmentally friendly and expand along the value chain.

Additionally, it will invest in a modern logistics system, connecting the Central region with the Central Highlands and Southeast Asia, serving as a gateway for transporting goods across the East Sea.

Expecting a breakthrough

Quang Ngai’s planning has closely followed the existing advantages of the locality. From a strategic perspective, the provincial government has creatively used these advantage to become a driving force in the future of the wider region.

Elsewhere, Dung Quat EZ is one of the first marine zones in Vietnam planning to develop the petrochemical refining and heavy industry.

The presence of Vietnam’s first oil refinery in this zone has created attraction for investment capital, including the Doosan heavy industry factory and Hoa Phat steel factory. The success of these investors has created momentum for the province and shaped the direction for Quang Ngai for the near future.

Nguyen Van Trong, director of the Department of Planning and Investment said, “The consensus of the administrative apparatus along with the strategic decisions of the Party Committee and People’s Committee have created a trustworthy image of Quang Ngai in the eyes of investors.”

“Quang Ngai has been creating decent positives for investment. Besides Dung Quat, Doosan, and Hoa Phat oil refinery, the presence of Vietnam-Singapore Industrial Park (VSIP) in Quang Ngai is a significant factor in creating a strong local investment environment,” Trong added.

This year marks 10 years of the establishment of VSIP Quang Ngai and this milestone event will be marked on the sidelines of the Quang Ngai planning announcement conference to be held on December 24 (see Page 8).

During those 10 years, VSIP has brought a new look to attracting investment in Quang Ngai industry through its experience and professionalism in investing in infrastructure.

The path to development of Quang Ngai province has opened, and residents have faith in a strong breakthrough for this locality in the coming years. This expectation is not only placed on the strategic vision of the plan but also based on existing assets.