Deputy Prime Minister Trinh Dinh Dung made the suggestion during a meeting with the local authorities on October 19.
According to reports released by Quang Ngai People's Committee, in the first nine months of 2017, State budget revenue in the province reached over VND18 trillion, exceeding the set plan and equal to 86.1% of the whole year estimate. The industrial production value (excluding refined oil products) increased by 10.3%. Up to now, Quang Ngai has 45 FDI projects with a total investment capital of over US$1.4 billion and 381 domestic investment projects with a total capital of over VND234 trillion.
At present, the Dung Quat - Quang Ngai Economic Zone’s extension plan has been approved by the Prime Minister, with the aim of promoting the province’s industry and service development. Quang Ngai is also looking to open new tourist routes from Quang Ngai city to Ly Son Island and Sa Huynh to create local typical tourism products, while looking for domestic and foreign resources to invest in local marine eco-tourism areas.
Deputy PM Dung said that Quang Ngai has a relatively synchronous transport infrastructure, which is good for attracting investment and socio-economic development, with a connection to National Highway 1A, the north-south railway, Da Nang - Quang Ngai Expressway, National Highway 24A connecting the Central Highlands provinces to southern Laos, and the Chu Lai and Da Nang International Airports.
Particularly, Dung Quat Economic Zone is one of the 15 coastal economic parks across the country, with special attention and preferential policies being given by the Government. The provinces’ Dung Quat deep sea port is capable of receiving ships of up to 100,000 DWT.
In addition, with a large fishing ground of over 11,000 km2 and a 130 km coastline, Quang Ngai also has great potential to develop its tourism and marine economy.
The deputy PM suggested that Quang Ngai should review, supplement and finalise a master plan for local socio-economic development, thus creating a basis for completing all sectorial plans in a scientific manner, coupled with the realities and the current market situation.
He also urged the province to focus on mobilising resources for investment in developing its infrastructure systems, especially for transport, industrial parks, tourism and regional link development.
Quang Ngai needs to develop a system of prioritising investment projects in a concrete manner, while building up a mechanism on providing specific support for a number of areas, in addition to continuing its administrative reform and improving the business environment in order to facilitate investors, the senior government official stated.
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Deputy PM Trinh Dinh Dung surveys the plan for upgrading and expanding Dung Quat Oil Refinery Plant by the BSR. (Credit: BSR)
The same day, Deputy PM Dung paid a working visit to the Binh Son Refining and Petrochemical Co., Ltd. (BSR), a member of Vietnam Oil and Gas Group (PVN) that has been assigned to manage and operate the Dung Quat Oil Refinery Plant.
At the meeting, Deputy PM Dung asked the company to continue studying technical, financial and administrative solutions to lower production costs, improve competitiveness and ensure economic efficiency. He also called for solutions to restructure products and increase the proportion of products processed from oil and gas from the Dung Quat Oil Refinery Plant.
Regarding the expansion of the plant, the deputy PM asked the PVN and BSR to continue studying economic, technical and administrative solutions to ensure the expansion of the project.
