Dung Quat Economic Zone to Be Expanded to 50,000Ha

3:26:38 PM | 7/8/2005

The People's Committee of the central province of Quang Ngai has a plan to expand the Dung Quat Economic Zone to 50,000 hectares by 2020.

Accordingly, the zone will have a land area of 40,000 hectares and a water area of 10,000 hectares. The population in the zone will reach 400,000 people by 2020, with 250,000 people living in the urban areas.

Dung Quat Economic Zone will focus on developing the petrochemical industry and consumer goods production. It will also effectively utilize the Dung Quat Deep Seaport and the Chui Lai Airport.

New urban areas, eco-tourism sites, handicraft villages and industrial parks will be built in the zone.

Dung Quat Economic Zone was officially set up in March this year under the Prime Minister’s Decision No.49/2005/QDTTg dated March 11, 2005.

The zone expects to attract 20-25 investment projects with total registered investment capital of between VND3.5 trillion (US$222.93 million) and VND4 trillion (US$254.8 million) in 2005. Enterprises in the zone are expected to generate total industrial production of VND159 billion (US$10.13 million) and rake in total export revenues of US$12-15 million in the year.

By the end of 2004, Dung Quat Economic Zone had attracted 42 investment projects with total pledged investment of US$2.3 billion.