QUANG NGAI (VNS)— The central Quang Ngai Province has proposed that 10 per cent of the annual revenue from Dung Quat Economic Zone to 2015, equal to VND1.5 trillion (US$71.5 million) per year, be spent to develop the EZ's infrastructure.
Developing the infrastructure system played a significant role in attracting investments into the zone, which was set to reach US$13 billion by 2015 in the IZ master plan, according to Pham Nhu So, vice chairman of the provincial People's Committee.
The Prime Minister recently approved a plan to expand the EZ about 4.5 times in area to 45,332ha by 2025, with the goal of turning it into an open industrial city.
Dung Quat EZ was among five coastal economic zones around the country to be prioritised in receiving investments from the State's budget in the next three years.
So said after the Prime Minister's decision to expand the zone, a rising number of investors have come to seek investment opportunities.
He pointed out that a 1,200MW thermoelectric plant of Semcorp Group and a 1,200ha-Viet Nam – Singapore Industrial Park were being invested with the total registered capital of up to $3 billion.
The province was currently speeding up the implementation of key road projects such as Doc Soi-Dung Quat Port, Tri Binh – Dung Quat and Tinh Phong – Dung Quat 2.
The Dung Quat EZ would enhance co-operation with neighbouring Chu Lai Economic Zone in Quang Nam Province in developing a synchronous and supplementary infrastructure system between the two zones. Chu Lai Airport would also be expanded.
There were also plans for Dung Quat 2 Port, which was designed to harbour ships of up to 300,000 DWT.
The port was a prerequisite condition for the development of the Dung Quat Heavy Industry Park, which would cover an area of 5,000ha for heavy industry and another 2,000ha for support industries.
By 2015, the EZ aimed to generate VND7.5 trillion ($357.2 million) to develop its infrastructure. — VNS