The province hopes to attract investors with potential, including to the deep-sea port and the Viet Nam-Singapore Integrated Township and Industrial Park (VSIP). — Photo vsip.com.vn

QUANG NGAI (Biz Hub) — The central province has granted investment certificates to five projects, worth VND2.45 trillion (US$117 million), in the Dung Quat Economic Zone, and an adjustment project.

The new projects included the first stage of the Urban and Service Project in Viet Nam-Singapore Integrated Township and Industrial Park (VSIP), the Muong Thanh five-star trade and hotel complex and the Muong Thanh-Ly Son Hotel; as well as the Trade Centre and Township Shop House and a mechanical equipment plant.

Vice-Chairman of the provincial People's Committee Pham Nhu So said the province encouraged domestic and foreign investors to invest in infrastructure projects in the Dung Quat EZ and other industrial parks in the province.

"The 45,000ha Dung Quat EZ is recognised as one of five key coastal economic zones in Viet Nam that has been prioritised by the government in infrastructure," So said, adding that 19 industrial parks were available to investors with good and ready infrastructure.

"We also offer priority policies and favourable conditions to lure more investors to develop infrastructure in the province. The province hopes to attract investors with potential, including to the deep-sea port and the Viet Nam-Singapore Integrated Township and Industrial Park (VSIP)," he said.

So, who is head of the Dung Quat EZ management board, said the province has been boosting the EZ as one of the most favourable EZs that has top priority in Viet Nam.

The province also approved the revision of the area of VSIP's Industry-Urban-Service project from 458ha to 660ha and the increase of its investment from $125.3 million to $139.8 million.

According to the latest reports, the central province has attracted 36 foreign direct investment projects, worth $4 billion.

Speaking at an investment promotion conference on Sunday, Atsusuke Kawada, chief representative of JETRO's Ha Noi Office and vice-chairman of the Japan Business Association in Viet Nam, said foreign investors often faced challenges of traffic, infrastructure, skilled workers and foreign language, as well as a labour force that can communicate, and appropriate living quarters and service area for foreigners in localities in Viet Nam.

He suggested that Quang Ngai should do more promotions in different languages.

At the conference, the province and the Viet Nam Chamber of Commerce and Industry (VCCI) inked a co-operation agreement on supporting and developing businesses, as well as in doing investment promotion abroad.

Singapore's Sembcorp has been preparing for the construction of a 141ha thermal power plant in the Dung Quat EZ.

The 2,100-MW thermal plant power plant has an investment capital of US$2 billion for the first phase, and is expected to become operational by the third quarter of 2020. — VNS