Quang Ngai has a convenient transportation system, many potentials, advantages, and room for rapid and sustainable development and becomes a fairly developed province in the country. In particular, Quang Ngai has great potential for developing the marine economy and heavy industries, with the advantage of Dung Quat deep-water seaport.
Focus on supporting businesses
According to Chairman of the Provincial People’s Committee Nguyen Hoang Giang, based on forecasting opportunities, advantages and limitations, challenges, reviewing all potentials, strengths and practical conditions, the province has developed a scenario to strive for economic growth of 8.5% or more in 2025, the economic scale of more than 148 trillion VND, per capita income of 118 million VND/person, an increase of 11.4% compared to 2024.
To achieve the above growth target, creating a foundation for double-digit growth in the 2026-2030 period, the province has directed agencies, units and localities to focus on implementing the proposed tasks and solutions resolutely and effectively; periodically every quarter, review and evaluate the specific achieved targets compared to the expected GRDP rate; promote the restructuring of sectors and fields in a substantial and effective manner, associated with the innovation of the growth model based on increased labour productivity, scientific and technological progress, innovation, digital transformation, and green transformation; identify sectors and fields with the potential to achieve higher growth rates to focus on development to compensate for sectors and fields with low growth rates.
Identifying industry as the driving force for economic growth, Quang Ngai has resolutely directed all levels and sectors to increase support and attract investment; accelerate the progress of industrial projects, and put into operation the Hoa Phat Dung Quat 2 Iron and Steel Complex in 2025.
In particular, it has focused on supporting the implementation of raw water supply, electricity supply for the factory’s operations and promoting site clearance so that Hoa Phat Group can continue to expand investment in projects to produce deep processing of post-steel products and high-quality steel, steel for high-speed railways; at the same time, the province actively supports and facilitates investors in the process of constructing projects to upgrade and expand the Dung Quat Oil Refinery; Dung Quat I, Dung Quat II, Dung Quat III combined cycle gas turbine power plant projects, supporting investors in implementing investment projects in construction and business of industrial park infrastructure, urban area projects, etc.
At the same time, the province urgently coordinated with the Ministry of Industry and Trade, the Ministry of Culture, Sports and Tourism to submit to the Prime Minister for approval and organise the implementation of the project to build a national refinery, petrochemical and energy centre in Dung Quat Economic Zone and the project to develop Ly Son Island district into a centre for sea and island tourism.
In particular, effectively calling for potential investors to invest and implement projects in Dung Quat Economic Zone and Ly Son Island district, creating a premise for forming industry and regional linkages in industry and tourism, creating a driving force for economic growth in the region.
Along with industrial development, the province has accelerated the implementation of plans; promptly adjusted inadequacies, conflicts, and overlaps in the plans of the province and the Government; mobilise and effectively use resources to promote investment in socio-economic infrastructure, especially transport infrastructure, digital infrastructure, shared infrastructure with regional and inter-regional connectivity.
Quang Ngai has a convenient transportation system, many potentials, advantages, and room for rapid and sustainable development and becomes a fairly developed province in the country.
“Quang Ngai is determined to strongly innovate in thinking, be creative in doing things, tighten discipline, ensure smooth, timely and close direction and management; build a streamlined organisation and staff, operate effectively, efficiently and effectively; create the most favourable conditions, accompany investors to invest in the province, turn industry into a key economic sector of the province”, said Bui Thi Quynh Van, Secretary of the Provincial Party Committee, Chairwoman of the People’s Council of Quang Ngai province.
Positive signals
As the locomotive in the province’s economic growth and development, contributing mainly to the budget revenue, Dung Quat Economic Zone with many potential advantages has been and is a destination, attracting strategic investors; is the premise for developing into a specialised economic zone, creating a breakthrough in improving labour productivity, promoting socio-economic development.
In addition to Dung Quat Oil Refinery, with a long-term strategy of breakthrough innovation in investment and science-technology activities, innovation, digital transformation, focusing on petrochemical refining as a breakthrough foundation for business and investment, in recent years, Hoa Phat Dung Quat Iron and Steel Complex has become a bright spot in industrial development, playing an important role in Quang Ngai’s economic growth.
The good news is that in the first months of 2025, Hoa Phat Dung Quat 2 Iron and Steel Complex will conduct trial operations to officially put into production in 2025. Next, in the third quarter of 2025, phase two of this project will complete equipment installation. The goal set for 2025 by Hoa Phat Dung Quat Steel Joint Stock Company is to increase production and consumption by about 30% compared to 2024, thereby helping to increase the industrial production value of Quang Ngai. In 2024, steel products accounted for 37% of the industry and in 2025 it is expected to increase to more than 42%.
“In addition to maintaining production and business, focusing on completing and putting into operation the Hoa Phat Dung Quat 2 project, the company expects to use high-quality steel to implement deep processing projects in Dung Quat. Including steel for the investment project to build a high-speed railway on the north-south axis, wind power projects, shipbuilding or products serving the defence industry,” said Vu Xuan Ha, Director of External Relations of Hoa Phat Dung Quat Steel Joint Stock Company.
In early March, the VSIP II Quang Ngai Industrial Park project in Dung Quat Economic Zone with a total area of 498 hectares and a registered investment capital of about 161 million USD officially started. This is a pioneering industrial park project after the Prime Minister approved the overall adjustment of the Dung Quat Economic Zone Master Plan to 2045.
According to the leader of VSIP Quang Ngai Limited Liability Company, VSIP II Quang Ngai aims to develop the industrial park associated with green growth and sustainable development; continue to attract investors in fields and professions applying science and technology, innovation and digital transformation in production and business activities such as electricity and electronics, precision mechanics, food processing, textiles, medical equipment, furniture and other supporting industries.
Head of the Management Board of Dung Quat Economic Zone and Industrial Parks of the province Tran Van Man informed that in 2025, Dung Quat Economic Zone will have three more factories in operation. In particular, after the 1/2,000 scale construction zoning plans were approved, a number of large investors have registered to invest. This is the foundation to promote Dung Quat Economic Zone to develop in a dynamic, innovative, smart, modern, efficient and sustainable direction in the coming period.
With three consecutive terms identifying industrial development as a breakthrough task, the industry has truly played a pivotal role in economic development, promoting the growth of Quang Ngai province’s GRDP. If the economic structure of the industrial sector in the province's GRDP in 2020 only accounted for 31.5%, by 2024 it will rise to account for about 40.7%.
From these achievements, combined with the implementation of flexible and appropriate solutions with high determination, great efforts, drastic actions, strong innovation in thinking, daring to think, daring to do, daring to take responsibility for the common good, in 2025, Quang Ngai industry will continue to make a great contribution to the province’s economic growth.
