Quang Ngai awards investment licences to new projects valued at nearly $600 million

NHSLAND Real Estate Investment and Business Co., Ltd. can now implement the Quang Ngai coastal ecological urban area project over nearly 94 hectares with a total registered capital approximating $300 million.

The project aims to form a new urban area combining ecotourism with sociotechnical infrastructure that is closely linked to the surrounding landscape, meeting the housing needs of residents and providing accommodation services for tourists. It will also contribute to the development of urban tourism services in Quang Ngai province to supplement the state budget revenue.

Thang Long Real Estate and Trading Investment JSC was granted a licence to become the investor in the Bau Giang urban area project.

With concerted efforts by the provincial management, Quang Ngai has increased its appeal to the investor community.

With the registered investment capital of nearly $140 million and covering nearly 50ha, the project is based in Nghia Trung commune in Quang Ngai city.

The goal is to build a civilized, modern, and synchronous new urban area with technical and social infrastructure that is in tune with the surrounding landscape in accordance with the planning orientations of Quang Ngai city and Tu Nghia district.

Furthermore, Messer Quang Ngai Industrial Gas Co., Ltd. was approved as the investor for its industrial gas production plant in the Dung Quat Economic Zone.

The German-funded venture has a total investment value of $133.3 million and will produce gases and liquid chemicals for industrial production.

At the announcement ceremony, Bui Thi Quynh Van, Secretary of Quang Ngai Party Committee said, "At today's conference, we witnessed the commencement of Hoang Sa-Doc Soi road, a key project to welcome the 21st provincial Party Congress, and awarded investment policies for three projects with a total value reaching $590 million."

“These ventures will be a driving force and an important first step in realising the provincial planning strategy,” Van noted.

Hyosung Group, a South Korean industrial conglomerate, has announced plans to invest $720 million in a biotech fiber manufacturing plant in Vietnam.

Quang Ngai possesses great potential for developing marine tourism, with the focus being Ly Son island district, as identified by the province’s new master plan for the decade and beyond.

Quang Ngai province’s planning for the next decade and beyond has been approved by the government to help it maximise its potential and create a breakthrough in economic and social development.