Quang Tri master plan: Opening up investment opportunities

A master plan for 2021-2030, with a vision to 2050 for the socio-economic development of Quang Tri, will be announced at a conference on July 6, which is expected to be a forum for exchange, discussion, networking, introducing and promoting the province’s image, potential, and strengths, and enhancing international cooperation across various fields.

Through the conference, new opportunities are unlocked to attract investment projects and help domestic and foreign enterprises find business cooperation and investment opportunities in Quang Tri to drive the province’s socio-economic development.

The “Meet Thailand” conference organized by the province is an opportunity to expand investment cooperation. Photo: H.N.K

At the conference, the province will grant investment policy decisions and registration certificates for ten new projects in the local area, according to the provincial Department of Planning and Investment.

In 2023, the province attracted 50 new projects, with a capital of nearly VND3.5 trillion (US$136.6 million).

Currently, the province has 21 valid investment projects with a total registered capital of more than $2.5 billion, and the realized capital of foreign-invested projects in 2023 was nearly $7.6 million.

In recent years, the province has made great efforts to improve the investment environment, flexibly applying preferential policies and breakthrough solutions.

To date, the province has attracted many large-scale investment projects, including My Thuy Port Deepwater Port with an investment of VND14.2 trillion ($554.4 million); Quang Tri Industrial Park with a total capital of more than VND2 trillion ($78.2 million), Quang Tri Airport with an investment of over VND5.8 trillion ($226.7 million); a solar panel manufacturing plant with a total investment of VND969 billion ($37.9 million); and a high-tech pig farming complex with a total investment of VND204.6 billion ($8 million).

The province has actively innovated its investment promotion activities, focused on implementing diverse forms of investor engagement, and proactively sought out investors through forums and events to promote domestic and foreign investment.

Among them, it is necessary to mention the successful organization of the first “MeetThailand” event in Quang Tri, which attracted many delegates from provinces and cities across the country and Thai enterprises. Actively connecting with domestic localities to coordinate the development of mechanisms to strengthen cooperation, support, and promote investment and trade.

As a result, many investors, including reputable domestic, regional, and global conglomerates and companies, have come to survey and explore investment opportunities in the province. They included Hoa Phat Group JSC, Central Group Vietnam and Dong Duong Real Estate Investment JSC, ENI Vietnam Energy Company, and Infrastructure Investment and Transportations Construction JSC (Intracom).

In late April 2024, Vo Van Hung, Chairman of the Quang Tri Provincial People’s Committee, led a delegation to South Korea to promote and attract FDI investment into the province. During the visit, an investment promotion conference was organized to share information and opportunities with South Korean enterprises, open avenues for cooperation and development, and foster investment partnerships between South Korean companies and Quang Tri.

To build a comprehensive legal framework to attract investment, the Provincial People’s Committee has issued Decision No. 447/QD-UBND approving an investment promotion plan for the 2023-2025 period, with a vision to 2030.

This plan focuses on tasks, including strengthening investment attraction capacity, improving the business investment environment, and enhancing the provincial competitiveness index to actively attract domestic and foreign investment.

The plan focuses on drawing investment projects that can effectively leverage Quang Tri’s strengths in industry-construction, agriculture, and services-tourism. Priorities will be given to the province’s comparative advantages, such as energy, processing, silicate, high-tech agriculture, organic farming, and high-value, service sectors.

The province will aggressively attract investment into its economic zones, industrial parks, industrial clusters, and urban areas. The focus will be on high-quality, high-tech, environmentally friendly projects and logistics services, aiming to establish Quang Tri as a regional freight transshipment hub by 2030.

The province concentrates on developing the Lao Bao Special Economic and Commercial Area, connecting with urban areas and cross-border logistics services orientation. Investment is encouraged in digital technology, digital transformation, high-tech projects, automation of production and business processes, and telecommunication infrastructure.

Quang Tri Chairman Vo Van Hung said: "To attract major investors with strong financial capabilities, we have proactively sought out, met, and exchanged ideas with investors, making responsible commitments and building friendly, effective cooperation."

Ho Nguyen Kha – Khanh Khanh