Vietnam Gov’t Approves Expansion of Dung Quat Economic Zone
Nov. 15 – The Vietnamese government has approved a plan that will increase the size of the Dung Quat Economic Zone in Quang Ngai Province by more than 30,000 hectares in an effort to make the EZ a leading economic center for the country.
The Dung Quat EZ, situated in central Vietnam halfway between Hanoi and Ho Chi Minh City, will expand from the current 10,300 hectares to 45,332 hectares and will include a new city and national petrochemical center, according to the Dung Quat Economic Zone Management Board.
One of the economic zone’s key projects, the Dung Quat oil refinery, will also see its annual capacity grow from 6.5 million tons to 10 million tons under the new plan, although this is not expected to be completed until 2015. The Dung Quat oil refinery was the country’s first when it was inaugurated in 2009.
“Expanding the economic zone will help attract more large-scale projects, taking advantage of a new deep-water port,” Le Van Dung, deputy head of the zone’s management board, told VnExpress.