Quang Ngai: Investment destination of attractiveness, convenience, transparency and safety

WVR - In the orientation of Quang Ngai's investment promotion, it is to prioritize screening and improving the quality of businesses which will invest in the province; that is to focus on attracting high-quality, high-tech projects, paying special attention to attracting major industries in the fields of petrochemical refining, energy, and high-end tourism services.

On this occasion, Ms. Huynh Thi Phuong Hoa, Director of Quang Ngai Department of Foreign Affairs granted an interview to journalist of the World and Vietnam Report about the province's orientation to attract investment in the future.

Quảng Ngãi: Điểm đến đầu tư hấp dẫn, thuận lợi, minh bạch, an toàn
Ms. Huynh Thi Phuong Hoa, Director of Quang Ngai Department of Foreign Affairs

Can you share about the potential and strengths of Quang Ngai, especially those focussed areas identified by the province for investment promotion?

Quang Ngai is a province located in the heart of Central Vietnam, 120km north of Da Nang city, 140km south of Binh Dinh, strategically located in the key economic region of Central Vietnam, with area of roughly 5,135 km2, population of nearly 1.3 million, administratively devided into 11 districts, 1 city and 1 town.

The province has the potential to develop industry, tourism, services, logistics and marine economic sectors.

Besides, Quang Ngai has a considerably well-connected traffic infrastructure; National Highway 1A and National Highway 24A connecting with the Central Highlands provinces, Southern Laos, Myanmar and Northern Thailand; and Da Nang - Quang Ngai expressway.

Quang Ngai City Center is 30 km from Chu Lai International Airport - expected to become an international cargo transit airport by 2025 with a capacity of 5 million tons of goods/year.

Located in the province, Dung Quat deep-water seaport that can receive ships of up to 200,000 tons, which is an important gateway for import and export of domestic and international goods.

Along with the seaport, Dung Quat Economic Zone (EZ) in the central key economic region with a total planned area of 45,332 hectares. This is a multi-industry, multi-sector integrated economic zone with a focus on developing heavy industrial complexes, large-scale projects... associated with the business operation and development of Dung Quat deep-water seaport.

Dung Quat Economic Zone is also one of the 5 coastal economic zones prioritized by the Government for infrastructure investment and benefited the highest preferential policies in Vietnam, and currently the most successful economic zone model in the country.

In addition, in Dung Quat Economic Zone there are also other industrial zone such as VSIP Industrial Zone (IZ) - Service - Urban Area, Dung Quat Industrial Urban Area, Saigon - Dung Quat Industrial Park, Tinh Phong Industrial Zone.

In particular, VSIP Industrial - Service - Urban Park is the 5th project of VSIP Group in Vietnam and the most modern industrial park of the Group, in operation for the past 10 years with a total area of 915 hectares, the industrial park occupancy rate is 70%.

At VSIP Industrial Park, Quang Ngai attracts quite a number of investment projects from countries such as Belgium, England, Korea, Japan, Hong Kong (China), and Malaysia. Typical examples include: Bekaert Vietnam's braided steel fiber factory (Belgium); Happy interior equipment factory (Singapore); Mattress manufacturing and processing factory project of Gesin Vietnam (Korea), eyeglass lens production project of Hoya Lens Vietnam Company (Japan)...

Currently, VSIP Quang Ngai is being considered for a Decision on investment policy for VSIP II Industrial Park.

Moreover, Quang Ngai has large, fertile land spreading throughout the province with more than 300,000 hectares of agricultural land. The large fishing grounds of over 11,000 km2 and 130km long coastline with abundant seafood production, recorded with an annual output of 200,000 tons, a considerable potential for investors in the field of seafood processing.

Regarding tourism, Quang Ngai is blessed with many beautiful, charming beaches and the pearl island of Ly Son. Combined with the diversity and wonderful intertwining of terrain and tropical monsoon climate, Quang Ngai has a very rich ecosystem and many landscapes, historical, cultural and heritage sites. geological relics, and famous traditional festivities.

Một góc khu kinh tế Dung Quất, tỉnh Quảng Ngãi. (Nguồn: Báo Đầu tư)

A corner of Dung Quat economic zone, Quang Ngai province. (Source: Bao Dau tu)

Recently, what are the pratical measures proposed by Quang Ngai to attract investment?

Quang Ngai has been consistently apprehended to implements the motto: Businesses, investors, and people are the subjects of service of state administrative agencies. The success of the business is the success of the province, the benefits of the business are the benefits of the province and the potential of the province is the opportunity for investors.

In order to attract resources for development investment, Quang Ngai has rolled out many solutions to strongly improve the business investment environment.

Firstly, it is to promote and improve the efficiency of planning, constantly improve technical infrastructure and services to serve the projects; Special attention is paid to the investment into transport infrastructure, electricity, water supply and urban drainage and environmental treatment for rapid but sustainable industrial development.

Secondly, it is to implement properly and fully the Central investment incentive policy for the current investors who are operating their projects in the province. Pay attention to the training of high-quality local human resources to meet the labor recruitment needs of investors.

Thirdly, it is to review regularly and evaluate the suitability of preferential policies to promptly propose and recommend amendments and supplements to ensure compliance with the actual situation to support investors; promote investment attraction. Innovate and improve the effectiveness of investment promotion and attract large investment projects with spillover effects; improve transparency, support businesses and foreign investors to access the information; proactively support investors to overcome difficulties and obstacles.

Fourthly, it is to regularly review, supplement and complete the list of priority projects calling for investment, ensuring compliance with the planning, conditions and development orientation of the province. The local authorities alos need to improve their land management capacity to reduce the troubleshootings in the process of organizing compensation and site clearance.

Fifthly, it is to continue the administrative reform, creating the most favorable investment and business environment for investors. The on-site investment promotion needs strengthening; always accompanying and supporting investors from researching investment opportunities to implementing and putting projects into operation. The viewpoint is that the investment support chould be a top preferential policy, an effective form of investment promotion in the current period (on-site investment promotion).

Sixthly, it is to associate investment attraction with assessment of the investor's capacity and their deployment ability, to avoid the circumstance where the project is licensed but the deployment delayed or deliberately slow downed. The local authorized management shall resolutely handle the delayed investment implementation to find new investors with investment capacity and experience.

What are the bright spots in Quang Ngai's investment attraction picture? What are the province's plans to attract investment in the future?

Dung Quat Economic Zone has had a remarkable development and is considered one of the pioneering and successful economic zones of the country; it is the center of industrial production and the driving force for socio-economic development of Quang Ngai and the Central Economic Zone.

To date, in Dung Quat Economic Zone and Quang Ngai Industrial Park, there are 344 valid projects, with a total registered investment capital of VND 385,226 billion (equivalent to USD 17,887 billion); including 67 foreign direct investment projects, registered investment capital of USD 2 billion and 283 domestic investment projects, registered capital of VND 339,839 billion (equivalent to USD 15,884 billion) and creating 66,670 jobs, contributing to the budget through annual taxes of about USD 1 billion. Major projects in operation are in the list : BSR Refinery, Hoa Phat Iron and Steel Complex, Sabeco, Doosan Vina, GE, Messer, VSIP; are building gas power plants EVN, Sembcorp, among the others.

Currently, the province's investment promotion orientation is to prioritize screening and improving the quality of businesses investing in the province; with focus on attracting projects that the province needs, projects with special quality that attract advantageous, major industries such as petrochemical refining industry, energy, steel rolling, mechanical engineering, shipbuilding.

Besides, the province prioritizes attracting high-tech and clean industries; supporting industry; processing and manufacturing; wastewater and garbage treatment; renewable energy; attracting the development of industrial - urban - service park models, specialized industrial parks, and eco-industrial parks; diverse, modern and sustainable service industries; turning Dung Quat Economic Zone into a gateway and regional center for goods transit, transportation, warehousing, logistics and trade; forming and developing modern, world-class resorts, ecotourism, and entertainment areas.

In addition to promoting domestic investment, connecting and promoting investment attraction for foreign businesses also plays an important role, especially attracting traditional markets such as Republic of Korea, Japan and other countries from Northern Europe, and America, etc, where advanced technology could be found.

Thank you so much!

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