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Báo Quốc Tế•29/10/2023

Sharing with TG&VN on the sidelines of the recent seminar "Opportunities for Cooperation and Investment in Quang Ngai Province", Vice Chairman of the Quang Ngai Provincial People's Committee Vo Phien affirmed that the province always welcomes investors to explore and share opportunities to jointly create a prosperous future.

Vice Chairman of the Quang Ngai Provincial People's Committee Vo Phien answers questions from TG&VN. (Photo: Tuan Viet)

Making Quang Ngai a growth engine.

Sharing his views on the potential and opportunities for investment cooperation in Quang Ngai, Mr. Vo Phien said that with the advantage of possessing 130km of coastline and the Dung Quat deep-water seaport, the province has enormous potential to develop the marine economy , especially in the development of heavy industry, island and coastal tourism, and aquaculture and seafood processing.

In its economic development strategy, Quang Ngai focuses on developing industry, supporting industries, urban areas, and comprehensive trade and services; diversifying products, prioritizing processing and manufacturing industries, high-tech industries, green transformation, innovation, and digital transformation...

Emphasis is placed on investing in and building a comprehensive infrastructure system, especially developing infrastructure in the Dung Quat Economic Zone (EZ) and industrial parks. This will contribute to making Quang Ngai a growth engine and a driving force for socio-economic development in the Central Vietnam key economic region.

According to the Vice Chairman of the Quang Ngai Provincial People's Committee, the Dung Quat Economic Zone is one of the five coastal economic zones prioritized by the Government for infrastructure investment and receives the highest incentives in Vietnam. Currently, the economic zone has attracted large-scale industrial projects and key national projects. In the next phase, a national petrochemical and energy center will be established here.

In addition, Quang Ngai province has 7 industrial parks. As of October 2023, there were 348 active projects with a total registered investment capital of over 391 trillion VND. Of these, 60 are foreign direct investment (FDI) projects with registered investment capital of nearly 2 billion USD, and 288 are domestic investment projects with registered investment capital of nearly 346 trillion VND invested in the Dung Quat Economic Zone and other industrial parks in the province.

The marine and island resources and Sa Huynh culture are core values of Quang Ngai's tourism brand. The province focuses on developing three main product lines: marine and island tourism, cultural tourism, and agro-ecological tourism; and concentrates on attracting investment to develop the Dung Quat-Ly Son dynamic area. Currently, the province is focusing on preserving and promoting the unique values of Sa Huynh culture to build a dossier for submission to UNESCO for recognition as a World Cultural Heritage site.

Quang Ngai also has potential for agricultural and rural development. The province has 157 products that have achieved OCOP 3-4 star ratings. Export items include garments, mechanical products, steel, cassava starch, seafood, South American bananas, dried chili powder, watermelons, processed food products, wood chips for paper production, etc. With potential for international cooperation in human resources, from 2021 to the present, the province has sent nearly 2,000 workers to work abroad under contract, supplying markets in Japan, South Korea, Taiwan (China)...

Investors are always welcome.

As a province with a dynamic economy entering a period of strong development, Vice Chairman of the Provincial People's Committee Vo Phien affirmed that Quang Ngai is becoming a bright spot in attracting investment, a place where domestic and foreign investors place firm trust in accompanying the province's development. The province always welcomes investors to explore and share opportunities to jointly create a prosperous future.

Furthermore, Quang Ngai province has demonstrated strong commitment from its government to improving the investment environment, working alongside businesses to overcome difficulties, and creating the most favorable business and investment conditions in the province.

“Quang Ngai calls for cooperation and attracts investment based on the principle that ‘Your success is the province’s success,’ and businesses are the target of service for state agencies. The provincial government and leaders wish to work alongside investors to create new successes and new prosperity for the locality, community, and businesses,” affirmed the Vice Chairman of the Quang Ngai Provincial People’s Committee.

Mr. Vo Phien further stated that, in addition to attracting international investors, Quang Ngai also wishes to develop and expand friendly cooperative relations with localities in the region and around the world that share cultural and economic similarities; strengthen cooperation with international organizations, embassies, businesses, and domestic and foreign investors to link and support development with key tasks and solutions:

Economic restructuring is linked to the innovation of growth models based on science, technology, and innovation; industrial development, product diversification, prioritizing processing and manufacturing industries, high-tech industries, green transformation, innovation, and digital transformation.

The agricultural sector should be restructured towards increasing the proportion of livestock farming, organic farming, clean agriculture, high-tech applications, commodity production, brand building and value chains, adaptation to climate change, and integration with the new rural development program; connecting, building brands, and enhancing competitiveness; developing tourism products linked to history, traditions, national cultural identity, and natural conditions, with a focus on developing marine and island tourism, especially Ly Son Island.

A panel discussion titled "Opportunities for Cooperation and Investment in Quang Ngai Province" was held within the framework of the Quang Ngai Introduction Conference recently organized in Hanoi. (Photo: Tuan Viet)

Improving the quality of human resources is linked to promoting scientific research, applying science and technology, and innovation to meet the demand for high-quality human resources in key sectors and fields where the province has strengths; attracting ODA and NGO capital to invest in various fields to continue developing the province comprehensively and sustainably; and preserving and promoting the historical values and distinctive cultural heritage of the ethnic groups and people of Quang Ngai.

The Vice Chairman of the Quang Ngai Provincial People's Committee affirmed that, with the successful organization of this Quang Ngai Introduction Conference, the image of Quang Ngai has been promoted and spread more widely to the international investment community. From there, investors have the opportunity to better understand Quang Ngai, and through contact and dialogue, Quang Ngai has also gained a clearer picture of effective ways to attract investors to the province.

Based on these results, Quang Ngai hopes that in the future, the Ministry of Foreign Affairs and Vietnamese representative agencies abroad will continue to support in exploring cooperation opportunities from a local perspective; providing information on investment opportunities and potential in the province, and promoting the province's image to international investors…

Within the framework of the Quang Ngai Introduction Conference organized by the Ministry of Foreign Affairs in coordination with the People's Committee of Quang Ngai province on October 25th, a ribbon-cutting ceremony was held to inaugurate the Quang Ngai Space Exhibition and a Memorandum of Understanding was signed between the Department of Planning and Investment of Quang Ngai province and the Hong Kong Business Association in Vietnam (HKBAV); and between the Management Board of Dung Quat Economic Zone and Industrial Parks of the province and the Investment Information and Consulting Center (INVEST GLOBAL) under the Vietnam Association of Foreign Investment Enterprises (VAFIE).

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