Economic zone expansion

Authorities in the central province of Quang Ngai have asked the Ministry of Construction for permission to quadruple the size of Dung Quat Economic Zone. The province wants to expand the zone from the current 10,300 hectares to 45,332 hectares to meet investor demand, said Le Van Dung, vice director of the Dung Quat Economic Zone Authority.

Under the proposal by 2025 the zone would incorporate another 24,280 hectares of land and 10,752 hectares of sea including Ly Son Island. Vietnam Institute of Architecture, Urban and Rural Planning under the Ministry of Construction, and Australia’s Woodhead International Company are the consultants on the master plan. The plan will modify full functional sectors of the zone, which is home to the country’s first oil refinery.

Quang Ngai has proposed upgrading the zone into a city known as Dung Quat City with a multifunctional complex and deep-water port, for petrochemical, chemical, steel, mechanical and shipbuilding industries – making it the urban centre for port and service industries in the central region. Dung said the plan would balance industry, urban areas, services and agriculture to maintain sustainable development.

Dung Quat Economic Zone is now home to 114 projects with total registered capital of over $10 billion. There are 53 projects operational, creating more than 11,000 jobs. The biggest project is Oil Refinery No l. – Saigon Times

Tags: Vietnam economic zones

Posted by VBN on Aug 26 2010. Filed under Economy News, Infrastructure. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry