Doosan Vina is one of the most effective foreign investment projects at this time in the central province of Quang Ngai.— File Photo

DA NANG (Biz Hub)— The central province of Quang Ngai has approved licences for 13 projects this year, including three foreign-invested projects worth US$16.5 million.

It has granted business licences for 285 projects, including 260 from domestic investors and 25 foreign-invested projects worth $5.2 billion in total, says director of the Provincial Investment Promotion Centre Tran Ba Nam.

Among the projects, JK Paper manufacturing company from India has registered to invest $150 million for a plant in Dung Quat Economic Zone (EZ), he said.

"Businesses have actually disbursed $3.6 billion in projects, 70 per cent of total registered capital, while 13 of 25 foreign-invested projects have put into operation," Nam said.

"Dung Quat is seen as one of the top five attractive coastal economic zones in Viet Nam with 114 projects, including an oil refinery that produces 6.5 million tonnes per year, a deep sea port which allows access to 100,000 deadweight tonnage (DWT) ships. These are massive advantages in luring investors," he said.

The province has offered investors a 10 per cent income tax rate with tax exemptions in the first year, he added.—VNS