Quang Ngai asked to intensify competitiveness in investment promotion

Addressing a conference on investment promotion in Quang Ngai on August 10, the Government leader suggested the province pitch for investments in tourism and services while paying more heed to human resource development, especially the on-the-spot workforce in order to serve local socio-economic development.

He suggested the province increase dialogues with businesses to untangle difficulties facing them, provide them with equal treatment, and encourage cooperation between domestic and foreign enterprises in the start-up spirit.

The PM also requested Quang Ngai to continuously revamp its authorities and build a transparent legal framework that ensures both rights and obligations of investors, stressing that enterprises should be put at the centre of development.

However, people’s living and social environment should not be traded for economic growth, the leader reminded.

He applauded the province’s strong resolve to spur socio-economic development amidst regional severe weather conditions, as well as its policies to develop industrial and economic zones, especially the Dung Quat Oil Refinery which accounts for up to 82 percent of local GDP.

The conference introduced Quang Ngai’s potential and strength, along with its incentives for investors in the Dung Quat Economic Zone.

Accordingly, the province will help investors with land lease, infrastructure construction, personnel training, trade and investment promotion, communication work and administrative procedures, said Chairman of the provincial People’s Committee Tran Ngoc Cang.

Apart from the 45,000 ha Dung Quat Economic Zone, the US$171 million Vietnam-Singapore Industrial Park (VSIP) and other four industrial parks in the province are wooing investments, he added.

Over the past five years, an accumulated investment capital of over US$3.2 billion landed in the central province, of which US$2.55 billion was injected into the Dung Quat Economic Zone.

In the first half of this year, the locality set up five new industrial clusters spanning about 73.5 hectares.

The province now hosts 313 valid projects with a total registered capital of nearly US$6.9 billion, of which 39 are foreign direct investment projects valued at more than US$4.1 million.

With comprehensive policies in investment attraction, especially in industry, and a fresh agreement to commit better business and investment environment signed with the Vietnam Chamber of Commerce and Industry, Quang Ngai has become a venue for investors and a big economic and industrial centre of the central region.