Quang Ngai wants $4.25b of investment

Tuesday, May 23, 2017 09:00

Dung Quat Oil Refinery, a spotlight of Dung Quat Open Economic Zone in Quang Ngai Province. — Photo baomoi.com

The central province of Quang Ngai aims to lure total investment capital of US$4.25 billion by 2020, via an investment promotion programme from 2017-20.

Of the sum, $2.5 billion-$3.5 billion is expected to flow into Dung Quat Open Economic Zone and industrial zones (IZs) while the remainder is expected for other locations in the locality, baodautu.vn reported.

Prioritised sectors for investment include processing, supporting industry, urban and IZs infrastructure development, sea ports and maritime services in addition to high-tech agriculture, tourism and services.

As of March 2017, the province had attracted 41 foreign-invested projects, worth more than $1.1 billion, 30th among 64 localities in foreign investment attraction, the Foreign Investment Agency’s revealed.

To attract more investment, the province offers investors minimum land rents, equivalent to 0.5 per cent of land prices in a framework stipulated by the Government, according to the provincial People’s Committee.

The province also assists investors with 20 per cent of site clearance costs for some projects and with 50-90 per cent of infrastructure investments for projects involved in education, healthcare and culture, as well as sport and the environment.

It helps investors deal with administrative procedures via a one-stop shop mechanism, while supporting them in trade, promotion and labour training.— VNS

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