QUANG NGAI OFFERS PREFERENTIAL CONDITION TO DRAW INVESTORS

Fully functional industrial park infrastructure and a more open investment environment are factors that have seen investors see the central province of Quang Ngai as a suitable destination.

At a conference in Ho Chi Minh City on October 3, Nguyen Hoang Giang, Chairman of Quang Ngai People's Committee, said, "Industrial development has been identified by the province as a priority, so we are focusing on planning and developing economic zones and industrial parks. The most prominent is Dung Quat Economic Zone, one of five coastal economic zones that the government has prioritised for investment, with plans for a new national oil refinery and energy centre there."

"The province is committed to creating strong conditions for investors through infrastructure development, administrative reform, the simplification of investment procedures, and improvement of worker quality," Giang added.

Zhang Zhengze, general director of Techlink Pets Vietnam Co., Ltd. said that after investing in the southern province of Binh Duong, the company has chosen Quang Ngai as its next investment destination in Vietnam.

"Vietnam Singapore Industrial Park in Quang Ngai has services that exceed investors' expectations. Moreover, the locality supports investors with quick procedures, and the construction of our project was completed in 227 days," said Zhang.

"We are currently preparing procedures to expand," he added.

Speaking at the conference, Deputy Minister of Foreign Affairs Pham Thanh Binh said that Quang Ngai has a dynamically developing economy, and synchronous development in the marine economy, tourism, industry, services, agriculture - forestry - fishery sectors.

"Quang Ngai has risen to be in the top 20 provinces and centrally-run cities with the largest economic scale in the country. Quang Ngai has abundant development potential and the correct orientation set by provincial leaders has been creating momentum and resources for a new development period," Binh said.

"This is a place where great potential converges for dynamic and breakthrough development. At the same time, it contains beautiful natural landscapes and cultural beauties that captivate people," said Binh.

According to Giang, Quang Ngai is calling for businesses to invest in industrial park infrastructure, high-tech industries, processing, manufacturing, supporting industries, logistics, and semiconductors.

Quang Ngai has attracted 639 domestic projects, with total registered capital of nearly VND400 trillion ($16 billion), as well as 73 foreign-invested projects with registered investment of over $2.3 billion.

This year, Quang Ngai has invited FPT Group to study the investment environment in the province.

"Quang Ngai will also work with 20-25 other investors to study the investment environment, including industries that play an important role in socioeconomic development such as healthcare, education, services, tourism, the environment, urban infrastructure, trade, services, and industrial parks This is expected to bring a new wave of investment to the province," said Giang.

"Businesses and investors will be given favourable conditions to successfully implement projects and develop sustainably. With a passion and responsibility for the sustainable development of Quang Ngai, we respectfully invite businesses and investors to come to the province to turn investment ideas into reality," he said.

Speaking at the conference, Michael Chiu, chairman of the Hong Kong Business Association in Vietnam, commented that Quang Ngai has the potential to become an investment destination for investors all over the world.

“This conference will update and highlight the latest investment policies. I encourage businesses and investors to connect with provincial leaders and industry experts to explore how you can be part of Quang Ngai’s growth story,” Chiu emphasised.

Source: VIR