Vietnam central province poised to increase two extra business parks

Vietnam’s central province of Quang Ngai, home to the Dung Quat oil refinery, is expected to accommodate two more industrial parks covering a total of 900 hectares.

Specifically, Phat Dat Real Estate Development Corp, listed on the Ho Chi Minh Stock Exchange as PDR, sought approval from the provincial government to develop the Phat Dat-Dung Quat 2 industrial park (IP).

The project is designed to span 449 ha in Binh Thanh and Binh Phuoc communes, Binh Thanh district, part of the Dung Quat Economic Zone. Construction is expected to take four years.

The firm plans to develop it as a multi-industry IP with the application of smart technology, aiming to attract high-tech and environmentally friendly sectors.

The other, Gilimex Quang Ngai industrial park, was proposed by Gilimex Industrial Park Corporation.

It is projected to span 450 hectares in Binh Hoa and Binh Thanh communes, Binh Son district, within Dung Quat Economic Zone as well. The IP will take a projected five years to complete.

The investment capital of both projects has yet to be revealed.

In response, Standing Vice Chairman of the provincial People’s Committee Tran Hoang Tuan welcomed the two firms’ requests to build the IPs in the province. He asked relevant units and agencies to appraise the two projects and then report to the committee.

Currently, Quang Ngai has five IPs, including four in the Dung Quat Economic Zone. By 2030, it is expected to have a total of 10 IPs covering 6,648 ha.

The Dung Quat Economic Zone and industrial parks in Quang Ngai province house 348 valid projects valued at VND389.64 trillion ($15.31 billion), comprising 63 foreign-invested ones, according to the Dung Quat Economic Zone and Quang Ngai Industrial Parks Authority.

This year, the authority aims to draw $200-300 million in investment in the Dung Quat Economic Zone and IPs, with a focus on petrochemical refining, metallurgy, mechanical engineering, manufacturing, food and beverage processing, wood processing, and electricity-electronics.