| Target | Industrial projects in Dung Quat Economic Zone area |
| Location | Quang Ngai Province |
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Dung Quat EZ reports Q1 growth QUANG NGAI ? The Dung Quat Economic Zone (EZ) in the first quarter continued to expand with exports reaching nearly US$9 million, according to the zone?s management board. The EZ?s contribution to the State budget is estimated at VND210 billion ($13.1 million), equal to about 35 per cent of the year?s plan. The management board has also approved and issued investment certificates to eight projects worth about VND427.5 billion ($26 million). As of the end of March, 32 projects in Dung Quat were under construction with another 34 already in operation. As for foreign direct investment (FDI), Tycoons Worldwide Steel Viet Nam will begin construction on the first phase of its $556-million steel mill next month, while the Doosan Group injects $260 million to build a heavy industry complex. FDI capital has come from a wide range of countries, including South Korea, Japan, Taiwan and mainland China. Through investments and projects, another 400 jobs were created in the EZ in the first quarter. A number of factors have contributed to the zone?s growth in the first three months of the year, including State spending to improve the EZ?s technological infrastructure. Provincial authorities also concentrated on compensation and land clearance issues to help entrepreneurs quickly establish their factories. Nearly 7,000 labourers including 200 foreign experts are working to complete the Dung Quat oil refinery. Executives hope the refinery?s main facilities will be complete by the end of the year. The refinery is scheduled to begin operation by the close of 2009. Dung Quat Shipbuilding Factory has also progressed well with executives forecasting about VND800 billion ($50 million) in output this year. The shipyard has created 3,000 jobs.
Source: Vietnam News |
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