More Foreign Investors Coming to Dung Quat EZ

Some groups of South Korean, Chinese, Japanese and American businessmen have come to survey investment opportunities at the Dung Quat Economic Zone in the central province of Quang Ngai.

 

An American company wants to build a group of timber processing factories for export, with investment capital of US$50-60 million. Korean firms have also registered to develop infrastructure of a group of light industrial factories on 200ha, and another 200ha urban area, valued at more than US$100 million in total.

 

While a Japan-based company joins hands with the Vietnam Oil and Gas Group (PetroVietnam) to inject US$100 million in a Methanol plant.

 

In late March 2007, some Taiwanese investors visited Dung Quat to survey and prepare for a US$1 billion pulp plant, while Japanese investors plan to build a glass factory capitalized at US$500 million.

 

Besides, 20 other investors mostly from South Korea, have pledged projects in the areas of mechanics, supporting industries and services costing US$5-15 million each. Two projects have been granted investment certificates.

 

By the end of last year, Dung Quat Economic Zone had 110 licensed projects with combined registered capital over US$5.5 billion, including some mammoth projects like Dung Quat Oil Refinery (US$2.5 billion), the Tycoon Steel Plant (US$556 million in the first phase), and the Dung Quat shipbuilding complex (over US$700 million).

 

In related news, the government recently transferred the Dung Quat Economic Zone Management Board to the People’s Committee of Quang Ngai Province. Quang Ngai will begin managing the board April 30, 2007.