Quang Ngai upgrades IZs to attract more investors

The central province of Quang Ngai plans to attract VND250 billion (US$12.5 million) annually to its three industrial zones during the 2011-15 period, the province says.

The province is targeting an investment productivity of VND 20 billion ($1 million) per hectare.

During this time, the province will withdraw the investment certificates of all projects that have failed to prove effective.

Land clearance and compensation issues in all the industrial zones will be soon be resolved.

This year, the province will invest more than VND128 billion ($6.4 million) to complete the technical infrastructure of the Tinh Phong and Quang Phu industrial zones.

An additional VND72 billion ($3.6 million) will be poured in to construct roads and install lighting systems in the Pho Phong IZ. It will also be used to perfect the Quang Phu IZ's waste water treatment system.

Recently, provincial industrial zones have welcomed projects in the fields of electronics, power generation and agricultural and aquacultural production.

To ensure a sustainable development strategy, the province is establishing policies to prioritise projects that use advanced and environmentally friendly technology.

Currently, the province has granted investment certificates to projects able to meet the outlined criteria, such as the VND1.6 trillion ($80 million) Sai Gon - Quang Ngai Beer Plant in the Quang Phu IZ whose construction uses the EU-standard technologies.

The IZs have brought jobs to more than 8,000 workers, offering wages of between VND1.8 million and VND4 million ($90-200) per person.

During the last decade, industrial zones in the province have attracted 81 projects with total registered capital of nearly VND4.5 trillion ($225 million). Of the number, 60 projects are already in operation, while other 13 are under construction and other eight awaiting investment.

Last year, provincial IZs attracted VND705 billion ($35 million) from seven projects, an increase of 135 per cent compared with its annual target.

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