Quang Ngai increasingly appeals to investors

According to Tran Phuoc Hien, Vice Chairman of Quang Ngai People's Committee, after more than a decade of infrastructure investment and development following the standards of a professional, green and environmentally friendly industrial park (IP), VSIP Quang Ngai has become a highlight for foreign investment.

Currently, VSIP Quang Ngai is home to 35 projects with a total capital surpassing $1 billion from many countries and territories, of which 26 projects have come on stream creating more than 29,000 jobs.

It is expected that when these 35 projects come into operation, it will create jobs for about 53,000 local labourers.

According to Quang Ngai People's Committee, during the 10^th anniversary ceremony, VSIP Quang Ngai will award investment registration certificates to four new projects entering the IP in 2023 with a total registered capital of nearly $70 million.

Specifically, the Sedo-Dung Quat fabric factory project, invested by Korean investor Sedo Camping Co., Ltd., has a scale of about 10 hectares, with a total capital of about $31.8 million.

The Yusee-Techlink Quang Ngai aquarium decoration factory project, invested by Yusee Industrial Co., Ltd. from Hong Kong, China, aims to produce and process items made from resin, plastic, and silicon to decorate fish tanks and houses, and complete the aquarium.

This project has a scale of about 2.6ha with a total investment value reaching $6 million.

The Hui Feng Quang Ngai new technical sports materials manufacturing factory project, invested by Chinese investor Qingyuan Qingxin Xiaofeng Footwear Material Co., Ltd., aims to produce all kinds of shoes, shoe linings, shoe soles and shoe accessories.

The factory envisages to have an annual production capacity is about 6 million pairs, and shoe soles, shoe linings and footwear raw material production capacity of about eight million products per year. The project has a total investment value of about $6.5 million.

The Z-Wovens Quang Ngai fabric factory project, invested by Chinese investor Zhongwang Fabric Co., Ltd., aims to produce woven fabrics for interior decoration as well as produce sofa covers. The project has a total investment value of about $25 million.

In addition, at the ceremony two existing projects shall receive approval for investment expansion with a total additional capital value reaching $10.8 million.

According to Quang Ngai People's Committee, VSIP Quang Ngai Industrial, Urban and Service Complex project is VSIP's 5^th project in Vietnam.

The project has a scale of about 660ha, with a total investment value approximating $140 million.

As for VSIP Quang Ngai, from the beginning of the year until November 27, the IP issued investment registration certificates for four projects with a total capital value approximating $45.5 million.

Simultaneously, 10 other projects acquired revised investment certificates, of whom four projects sought capital addition with a total capital increase of about $15 million, bringing total new and supplemental capital volume so far the year to $60.5 million.

Representative of VSIP Quang Ngai Co., Ltd. said that for the VSIP II Quang Ngai project, in February the province signed an MoU with VSIP Quang Ngai Co., Ltd. on the proposal to survey and research investment in this project.

On that basis, VSIP Quang Ngai Co., Ltd. has submitted a dossier requesting approval for the investment policy of VSIP II Quang Ngai infrastructure construction and business investment project; phase 1 will have a nearly 500ha area in Binh Son district, with an estimated investment capital volume of about $161 million.

Quang Ngai planning: new vision, new opportunities Deputy Prime Minister Tran Hong Ha last month approved the planning of Quang Ngai province towards 2030, with a vision to 2050. With creative thinking and strategic vision, the planning will open up new development opportunities for this central province.

Awakening the tourism potential of Quang Ngai Quang Ngai possesses great potential for developing marine tourism, with the focus being Ly Son island district, as identified by the province’s new master plan for the decade and beyond.

The outlook of Quang Ngai urban area Quang Ngai province’s planning for the next decade and beyond has been approved by the government to help it maximise its potential and create a breakthrough in economic and social development.