Quang Ngai IZs attract $5.4 million

The Quang Ngai Industrial Zones (IZs) Authority has granted investment licences to three new projects worth VND71 billion (approximately US$3.2 million).

These projects included a VND18 billion (US$804,000) plant producing galvanised steel and welding material, being developed by Viet Quang Ltd Co, in Tinh Phong IZ. With a monthly capacity of 4,000 tonnes, the plant will be operational in the middle of 2017. Two others were a VND31 billion (US$1.38 million) carton packaging manufacturing factory, being financed by PQ Vina Co and a VND22 billion (US$982,000) plant to supply plastic products, being invested Minh Tien Ltd Co. Both of them will be developed in Quang Phu IZ.

The authority last week also allowed a petroleum project, being invested by Mien Trung Petroleum Services and Trading JSC, to raise capital by VND49 billion (about US$2.2 million).

The authority said the latest addition has brought the total investment registered in the province's IZs since the beginning of this year to VND620 billion (US$28 million), almost triple the target set for this year.

According to the province's official website, Quang Ngai Province will continue to improve the quality of investment promotion and will co-ordinate with the Viet Nam-Singapore Industrial Park to promote potential investors to IZs and the Dung Quat Economic Zone. The province will also improve its investment and business environment while mobilising resources and capital investment for infrastructure in Dung Quat EZ and other zones.