Economic growth drivers

(Quang Ngai Newspaper) - With a strategic location in the key economic region of the Central region, especially the advantage of Dung Quat deep-water seaport, Quang Ngai is developing strongly and diversifying its industries. This is also the driving force of the province's economic growth in recent years.

Growth spurt

Although the situation of attracting investment projects for industrial development in Quang Ngai slowed down somewhat in 2024, the results of attracting investment in this field in previous years have brought "sweet fruits" to the province. With an impressive growth rate, Quang Ngai industry has become a bright spot in the region, one of the important industrial centers of Vietnam. From 2018 to 2023, the average growth rate of the industrial sector reached 8.5%/year. The proportion of industry in GRDP also increased, from 37.5% in 2018 to 42.3% in 2023. In particular, the processing and manufacturing industry demonstrated its key role when accounting for the highest proportion, reaching 40.2% in GRDP in 2023.

Dung Quat Oil Refinery has created a breakthrough for the province's industry and economic growth.

In addition, the labor force in the industrial and service sectors also increased significantly, from 50.9% in 2018 to 67% in 2023, demonstrating a positive shift in the labor structure and reducing dependence on agriculture. The processing and manufacturing industry continues to affirm its position when accounting for 98% of the province's industrial structure. Modern industrial facilities such as Dung Quat Oil Refinery, Hoa Phat Dung Quat Iron and Steel Complex, Doosan Vina... are playing a key role in the province's industrial development. Not only strongly developing heavy industry, Quang Ngai also focuses on light industry and food processing with products such as sugar, processed seafood... These items not only serve the domestic market but are also exported to more than 30 countries around the world.

Develop strengths

Exploiting the advantages of the Dung Quat deep-water seaport system, as well as the important strategic location in the Central Key Economic Zone, with both plains and mountains, sea and islands, in recent years, Quang Ngai has focused on mobilizing many resources to invest in industrial development, making this industry a key industry, a "bright spot" in the province's economic picture.

Doosan Vina is a foreign investor operating effectively in Quang Ngai. In the photo: Doosan Vina workers during a shift.

The success in building and developing Dung Quat Economic Zone and industrial parks such as Quang Phu, Tinh Phong, VSIP Quang Ngai has demonstrated the province's comprehensive industrial development strategy. In addition, to support enterprises and investors, the provincial government has introduced many tax exemption and reduction policies, creating favorable conditions for enterprises to access credit capital, promoting investment and development. These developments not only promote the strong integration of Quang Ngai enterprises into the global value chain but also enhance their competitiveness in the international market.

Currently, Quang Ngai has planned 6 industrial parks in Dung Quat Economic Zone and 2 industrial parks outside Dung Quat Economic Zone, with a total area of ​​over 2,000 hectares, creating a solid foundation for development. Up to now, the province has attracted 490 industrial projects, with a total investment capital of 393 trillion VND, including 65 foreign investment projects (registered investment capital of about 2.2 billion USD). Many large projects have been implemented, contributing to spreading development such as: VSIP I, II Quang Ngai Urban - Service Industrial Park; Dung Quat Oil Refinery; Upgrading and expanding Dung Quat Oil Refinery; Hoa Phat Dung Quat Iron and Steel Complex, Hoa Phat Dung Quat 2 Iron and Steel Complex; Hoa Phat Dung Quat High-Quality Wire Rope Steel Factory; 2 Dung Quat I, III Combined Gas Turbine Power Plant projects; Hoa Phat Dung Quat General - Container Port project.

Production activities at Tan Mahang Vietnam Co., Ltd. (VSIP Quang Ngai Industrial Park).

In addition to the achievements, Quang Ngai still faces many difficulties. The orientation of developing priority industries such as energy and textiles is limited due to the lack of breakthrough policy mechanisms. Difficulties in attracting foreign direct investment, barriers in accessing land and increasing input costs are also challenges that require the province to find solutions soon.

Looking to the future

Continuing to promote industrial development, the Provincial People's Committee recently issued Plan No. 214/KH-UBND dated November 6, 2024 to implement the Government's Action Program (Resolution No. 111/NQ-CP dated July 22, 2024) on continuing to promote industrialization and modernization of the country by 2030, with a vision to 2045. Accordingly, the province sets the target by 2030: Average GRDP growth rate in the period 2021 - 2030 reaches 7.25 - 8.25%/year, of which industrial growth reaches 8.25 - 9.25%/year. GRDP per capita reaches 7,700 - 7,900 USD. The industrial - construction structure accounts for 36.5 - 37.5% of GRDP. The urbanization rate reaches over 50%. Average labor productivity growth in the period 2021 - 2030 is 6.5 - 7.5%/year. The rate of trained workers by 2030 will reach over 75%. Vision to 2045, Quang Ngai is a province with sustainable and diverse development with green and high-tech industries.

The above figures are not simply goals, but the strong development aspirations of Quang Ngai industry in the coming years. To realize that aspiration, the province has proposed creative solutions, along with clear strategies, from innovation in thinking, perfecting policy institutions, to developing science and technology and high-quality human resources. In addition, the province will accelerate the industrialization and modernization of agriculture and rural areas. Continue to restructure the service sector based on the foundation of science and technology and innovation. Develop synchronous and modern infrastructure; promote rapid and sustainable urbanization, closely connect and create momentum for the industrialization and modernization of the country. Manage, use effectively, save resources, protect the environment, proactively adapt to climate change; strengthen deep and effective international integration, along with protecting and developing the domestic market.

With a long-term vision, Quang Ngai is striving to build a sustainable investment and industrial development environment. Activities to support businesses, reform administration, and improve the quality of human resources have been and are being strongly implemented by the province, creating a driving force for the development of advanced industries, making Quang Ngai become the leading industrial development center of the country.

Article and photos: PHAM DANH

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Source: https://baoquangngai.vn/kinh-te/202411/dong-luc-tang-truong-kinh-te-f1f22b4/