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Quang Tri attracts more than $1.7 billion investment into EZs, IPs

Quang Tri attracts more than $1.7 billion investment into EZs, IPs

As of July 2019, industrial parks (IP) and economic zones (EZ) in the Central province of Quang Tri lured over VND40 trillion (over $1.7 billion) from 150 investment projects.
03:00, 15/07/2019

At present, the Central province is home to Lao Bao special EZ, the Southeast coastal EZ, and three IPs, namely Tay Bac Ho Xa, Quan Ngang, and Nam Dong Ha. These EZs and IPs have attracted a great number of investment projects, mostly in thermal and gas-fueled power and infrastructure development sectors. 

Among major projects under implementation in the province, My Thuy deep sea port, developed by the My Thuy International Port Joint Venture Company, is an outstanding one. With total capital of VND14 trillion (over $602.4 million), the deep sea port covers an area of 685 ha, consisting of 10 ports, which are capable of serving 100,000-ton ships.

An aerial view of Quang Tri's Lao Bao special economic zone. (Photo: Ho Cau/VNA)

An aerial view of Quang Tri's Lao Bao special economic zone. (Photo: Ho Cau/VNA)

Meanwhile, Lao Bao special EZ, located in the East-West Economic Corridor, has lured 50 projects in service, garment and processing sectors.

Local IPs are attractive to investors in garment for export, medium density fibreboard (MDF) production, and high-tech agriculture. More and more foreign enterprises are keen on IPs and EZs in Quang Tri. 

Regarding power plant projects, the Electricity Generating Authority of Thailand invested in Quang Tri 1 Thermal Power Plant, with a capacity of 1.320MW under the form of build-operate-transfer (BOT). Russia’s Gazprom Group also poured money in a gas power plant with a capacity of 340 MW.

Official statistics showed industrial production value in local Ezs and IPs has reached around VND5 trillion, creating jobs for about 6,000 laborers.

Quang Tri’s authorities have offered many incentives on taxes, insurance and land, aiming to attract more businesses to invest in its EZs and IPs. The local government gives priority to investment projects in energy development, towards turning it into an energy centre in the North Central region.

Quang Tri aims to have 5,000 MW of electricity from thermal, gas, wind, solar and hydropower plants by 2025, said Nguyen Duc Chinh, Chairman of the provincial People's Committee.

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