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Quang Ngai prioritises investment promotion for supporting industries

 Supporting industries will be a focus of an investment promotion plan released by central Quang Ngai province for 2021.

It has earmarked close to 2.2 billion VND (95,500 USD) to implement activities to attract investment to local projects in supporting industries, petrochemicals, high-technology, seaports, logistics, clean technology, hi-tech agriculture, urban infrastructure, and tourism and services.

The province also wants to lure more investment this year into housing, services, and utility development projects for workers at the Dung Quat Economic Zone and local industrial parks.

According to the Dung Quat Economic Zone and Quang Ngai Industrial Parks Authority (DEZA), it will invite new investors to set up business in the province this year via existing investors and provide support in regard to site clearance and public administration services.

It will also help enterprises tackle the challenges and speed up the progress of licensed projects while offering all possible conditions for luring new capital, it said.

The province plans to hasten the progress of a number of projects, including an industrial, urban, and service complex at the Vietnam-Singapore Industrial Park (VSIP) Quang Ngai, the Dung Quat Refinery expansion, the Hoa Phat Dung Quat Iron and Steel Integrated Complex, and gas-fuelled power projects at the Binh Hoa - Binh Phuoc Industrial Park.

It will review delayed and inefficient projects to identify supportive measures or revoke licenses if required, while action will be taken to further better the business climate, accelerate public administration reform, and bring in medium- and large-scale investment projects, especially those in supporting industries that use high-technology and are environmentally friendly.

A number of investment promotion and business-matching events are also in the pipeline.

As of the end of February, Quang Ngai was home to 61 valid FDI projects with combined investment of nearly 1.97 billion USD, and 668 domestic projects, excluding those in real estate, worth close to 295 trillion VND.