The first commercial oil produced by the refinery located in the central province of Quang Ngai is the result of a huge effort being made over the past 15 years.

Vietnam now has its own large, modern complex for refining oil to produce petroleum products for domestic consumption.

As a result, the cutting-edge petrochemical industry is expected to boost the development of other sectors and support industries, helping to establish an industrial complex that underlines national industrialization and modernization.

Quang Ngai, though heavily affected by the past war and constantly hit by natural calamities, is on the way to becoming the region’s economic powerhouse.

In addition to making an effective use of the country’s oil, the refinery will provide tens of thousands of jobs for local people and stimulate the establishment of new urban areas which in turn will create a higher demand for services and promote sustainable socio-economic development in the long run.

In the current economic downturn, the effective operation of such a large-scale industrial complex will encourage both domestic and foreign investors to go ahead with other projects.

Quang Ngai had only 52 projects with a total capital of VND32 trillion in the 2001-2005 period, but the figure rose to 157 projects worth US$10.3 billion in 2008.

The successful operation of the Dung Quat oil refinery has opened new prospects for the construction of similar projects as it can provide the country with a core group of experienced petrochemical technicians and scientists.

A number of other refineries such as Nghi Son in Thanh Hoa province, Van Phong in Khanh Hoa province, and Linh Son in Ba Ria-Vung Tau province are expected to be operational by 2013.

The construction of petrochemical factories along the country’s coastline is part of the national strategy to develop the marine and island economy and to turn Vietnam into a modern industrialized country by 2020.