Quang Ngai has a strategic location in the key economic region of the Central region, especially the advantage of Dung Quat deep-water seaport. With 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 province's industrial sector will reach 8.5% per year. The proportion of industry in GRDP will also increase, from 37.5% in 2018 to 42.3% in 2023. In particular, the processing and manufacturing industry will play a key role when accounting for the highest proportion, reaching 40.2% in GRDP in 2023.

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 labor structure and reduced dependence on agriculture . The processing and manufacturing industry continues to affirm its position when accounting for 98% of the province's industrial structure.

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Illustration photo: Quang Ngai province electronic information portal

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.

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.

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.

To support businesses and investors, the provincial government has introduced many tax exemption and reduction policies, creating favorable conditions for businesses to access credit capital, promoting investment and development. These developments not only promote the strong integration of Quang Ngai businesses into the global value chain but also enhance their competitiveness in the international market.

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. To date, 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 Rod Production Factory; 2 Dung Quat I, III Combined Gas Turbine Power Plant projects; Hoa Phat Dung Quat General - Container Port project.

Last October, the province's socio-economic situation achieved some positive results, specifically: The industrial production index in the month increased compared to the previous month and increased compared to the same period; in the first 10 months of 2024, export and import turnover, revenue from transportation and warehousing activities; total retail sales of goods and consumer service revenue all increased compared to the same period last year; agricultural production was stable, aquatic product output increased; prices were generally relatively stable, there was no shortage of goods, well meeting the consumption needs of the people. The province successfully organized the Conference "Quang Ngai meets and contacts businesses in Ho Chi Minh City", the Conference on dialogue with businesses and investors in the province (October 13); Quang Ngai Digital Transformation Week 2024.

Recently, the Provincial People's Committee 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.

The province sets the target by 2030: The average GRDP growth rate in the 2021 - 2030 period reaches 7.25 - 8.25%/year, of which industrial growth reaches 8.25 - 9.25%/year. The average 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%. The average labor productivity growth in the 2021 - 2030 period is 6.5 - 7.5%/year. The rate of trained workers by 2030 reaches over 75%. Vision to 2045, Quang Ngai is a province with sustainable and diversified development with green industries and high-tech industries.

Dieu Binh