Vietnam central province partners with Invest Global to source FDI

The Management Board of Dung Quat Economic Zone and Industrial Parks in Quang Ngai province has signed an MoU with Hanoi-based consultant Invest Global to look for potential large foreign investors.

Under the MoU, Invest Global, which stands for the Center of Information and Investment Consultant under the Vietnam Association of Foreign Invested Enterprises (VAFIE), will network with corporations in Western countries and elsewhere to explore opportunities to invest in the fields of energy, manufacturing, high-tech industries and other potential areas in the central province.

Invest Global will also introduce the province’s investment portfolios to international partners and help the province build a strategy to promote foreign investment, director of the management board Hoang Viet Phuong told The Investor.

The signing of the MoU took place at a promotional event in Hanoi on Wednesday where provincial authorities partnered with the Ministry of Foreign Affairs to pitch its attractive features as an investment destination to foreign investors.

Provincial Chairman Dang Van Minh highlighted the province’s advantages including its strategic position in the central region, developed traffic infrastructure, a capable workforce, and high tourism potential.

Minh said Quang Ngai will focus on building a national petrochemical and energy hub in the Dung Quat Economic Zone and developing a sea-island tourism center on Ly Son island.

Deputy Minister of Foreign Affairs Nguyen Minh Hang said her ministry will continue to support Vietnamese localities including Quang Ngai in networking with foreign partners, expanding markets, and attracting foreign direct investment as well as official development assistance.

Also at the event, the provincial Department of Planning and Investment signed an MoU with the Hong Kong Business Association (HKBAV).

The event drew the participation of representatives from several Vietnamese ministries and central agencies, foreign missions and foreign business associations in Vietnam, including JETRO and EuroCham.

The province, home to the Dung Quat oil refinery, the first of its kind in Vietnam, had attracted $2.1 billion in foreign direct investment in 65 projects as of September 2023, according to government data.