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FDI attraction - Opportunities from Europe

PostDate: 16/09/2019; 58 CountView
​Besides attracting investment projects from Asia such as Korea, Japan, Singapore ... Dung Quat EZ and Quang Ngai Industrial Zones will also ready to welcome foreign direct investors (FDI) from Europe such as Belgium, Germany, UK ...

When the Free Trade Agreement (EVFTA) and the Investment Protection Agreement (EVIPA) between Vietnam and the European Union come into force, this will create favorable opportunities for European businesses to invest in Quang Ngai.

Pioneering projects

In the period of 2011-2013, in Dung Quat EZ and Quang Ngai Industrial Zones, there were only 3 FDI projects from the EU, with an investment of more than US $ 63 million. 

So far, they have increased to 5 projects (from 4 countries: Belgium, Germany, England and Austria), with a total investment of more than 278 million USD.

Particularly, Project Bekaert Vietnam - Dung Quat Steel and Braided Steel Factory, of Bekaert SA Group (Belgium), licensed to invest in Dung Quat EZ by the end of 2018, with a total investment of 125 million dollars.

This is the FDI project from Europe with the largest investment capital in Quang Ngai, up to the present time.

This project uses about 40ha of land in VSIP Quang Ngai Industrial Zone, specializing in manufacturing braided steel wire, steel toothpick reinforcement used in tires and improved braided steel wire for automotive and other industries.

The project is expected to start in 2019 and go into operation in 2021.

Recently, a representative of Bekaert Vietnam Company signed a memorandum of understanding with Dung Quat Technological College on training, providing human resources for the project.

Liek Larmuseau, Executive Vice President of Bekeart Vietnam, said that in the first stage, the factory has a capacity of about 75,000 tons / year of braided steel wire, 1,000 tons / year of steel toothpick and 2,000 tons / year of braided steel wire up.

Previously, the project of Messer Hai Phong - Dung Quat industrial gas separation and liquefaction plant, with a total investment of USD 90 million of Messer Industrial Gas Co., Ltd. (under Messer Group of Germany) has been licensed to invest in the industrial zone east of Dung Quat EZ. After nearly 2 years of investment, the factory is currently in trial operation.

General Manager of Messer Industrial Gas Co., Ltd. Marc Oliver Wachter said that the industrial gas separation and liquefaction plant in Dung Quat EZ is Messer's largest scale factory in Southeast Asia.

Under the contract signed with Hoa Phat Group, the plant will provide Hoa Phat Dung Quat Iron and Steel Production Complex with 80,000 Nm³ / h of oxygen and 160,000 Nm³ / h of nitrogen.

In addition, the plant also provides liquid gas to other businesses, such as the shipbuilding industry or the automation industry.

To welcome European capital

Deputy Director of the Authority of Dung Quat Economic Zone and Quang Ngai Industrial Parks Dam Minh Le said: Along with favorable investment incentive policies, Dung Quat EZ and Quang Ngai Industrial Zones have their own advantages attractive to international investors when deploying the project here.

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It is a deep-sea port system - an important gateway for domestic and international import and export of goods. Specialized ports associated with heavy industry factories and general ports have been exploited, meeting ships of 50,000 - 200,000DWT. In the near future, a modern general - container terminal will be constructed by Hoa Phat General Port Joint Stock Company.

In addition, Dung Quat EZ and Quang Ngai Industrial Zones have the advantage of relatively large industrial development land fund and complete infrastructure investment. Especially, transport infrastructure connecting Dung Quat Economic Zone with the central key economic region such as Da Nang - Quang Ngai highway; Chu Lai expanded airport (phase I) ...

Especially, VSIP Quang Ngai Industrial Park, with clean land fund and modern and synchronous infrastructure and associated utilities, is an ideal place for the Investors can immediately deploy investment projects.

Honorary Deputy Consul of the Kingdom of Spain in Danang, member of the European Association of Enterprises in Vietnam (EuroCham) Jose Sanchez Barroso Gonzalez said: In August 2018, the EU and Vietnam agreed on the final documents for EU - Vietnam trade and investment agreements.

The agreements will provide opportunities to enhance trade and support employment and growth on both sides, through the removal of 99% of all tariffs; reduce legal barriers and cumbersome administrative procedures; ensure protection of geographical indications; service opening and public procurement market.

.      Sourced QNĐT, Translated by M.H


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