Quang Nam province works to attract investment in industry

The central province of Quang Nam will speed up site clearance and build infrastructure for industrial parks and industrial clusters to lure investment.

Expanding industrial land funds

Quang Nam province has so far licensed 14 industrial parks covering over 3,676 hectares. Among them, 11 are in Chu Lai Open Economic Zone, covering 2,959 hectares.

In addition, the province has 51 industrial clusters in operation with a total land area leased or registered for lease reaching more than 722 hectares, and an occupancy rate of about 70%.

Nguyen Tan Van, deputy director of the provincial Department of Planning and Investment, said that according to the plan, the province will develop 31 industrial parks with an area of more than 11,000 hectares by 2050, and 115 industrial clusters spanning 3,000 hectares by 2030.

"The province will prioritize attracting projects in processing and manufacturing with advanced and environmentally friendly technology, modern governance, high added value, and spillover effects; as well as those connecting global production and supply chains," he said.

Quang Nam intends to make Chu Lai Open Economic Zone a nucleus and major development center of the central key economic region and the whole country, he went on, adding that it is also planning to become a multi-industry and multi-sector marine economic zone and a driving force for the central region and Vietnam as a whole.

According to the provincial People's Committee, in 2023, Quang Nam granted licenses to 19 new domestic investment projects with total registered capital of nearly VND1.92 trillion ($78.27 million), raising the total number of such projects in the province so far to 1,138, valued at VND225 trillion ($9.17 billion).

There were three new foreign direct investment (FDI) projects licensed last year, with total investment capital of $23.58 million. To date, the number of valid FDI projects in the province is 193, worth $6 billion.

In addition, the province saw about 1,180 new enterprises with registered capital of about VND6.3 trillion ($256.83 million), along with 447 businesses resuming operations.

Luring investment to industrial parks, clusters

In 2024, Quang Nam province will continue to effectively implement its economic development and recovery program, taking solutions to support businesses, especially tourism services providers and those producing goods for export.

In particular, the locality will speed up site clearance and build infrastructure in industrial parks and clusters to attract investment.

According to Le Tri Thanh, chairman of the provincial People's Committee, the locality has determined economic restructuring towards parallel development of industry and services, taking services-tourism as a spearhead. It aims to develop the southeast region into a chain of urban areas - service centers, and tourism - clean industry - high-tech agriculture areas by 2030.

Quang Nam will turn industry into a driving force, create a breakthrough in economic growth, and develop services-tourism into a key economic sector. It plans to focus on industrial development, with the implementation of a project to develop a center for deep processing of silica products.

"The province will focus on promoting and implementing industrial project groups in its eastern region, promptly removing difficulties to put key projects into operation, and developing and expanding the Thaco Auto Complex,” he noted.

Thanh stated that Quang Nam will promote the development of supporting industries serving the province's key industries such as manufacturing, automobile assembly, mechanical engineering, machinery and equipment for textile and garment, footwear and chemical production, and high-tech agriculture, thus increasing the localization rate of industrial products.

It will continue to invest in infrastructure and arrange projects in licensed industrial parks like Tam Thang, Tam Anh and North Chu Lai IPs and Tam Hiep Port and Logistics Park.

Policies and mechanisms will be launched to support investors in building infrastructure for new industrial parks in the province, he added.