The Quang Ngai VSIP, the fifth of its kind in Vietnam, covers 660 hectares. It was built at a cost of VND2.23 trillion (US$140 million ), and put into operations in 2013.
After a decade of operation, the Quang Ngai VSIP issued investment licences to 39 projects worth over $1 billion . Of the projects, 34 are foreign invested, mostly in the fields of garment-textiles, leather and footwear, automobile support industry, and medical equipment manufacturing. Currently, 26 have been operating, making considerable contributions to the local socio-economic development.
On the foundation of the success of the VSIP, the Quang Ngai VSIP JSC has proposed a project to construct a second VSIP in Quang Ngai, with the first phase having a total investment of about $161 million, covering 497.7 hectares.
Addressing the event, President Thuong said that the approval of investment policy for the second Quang Ngai VSIP, the 18th of its kind in Vietnam, will open up new opportunities for the locality in attracting investment and promoting its socio-economic development.
He suggested that the Quang Ngai VSIP No.2 should be a high-tech park with high added value and innovation and stronger growth than the first one.
They State leader hailed the contributions of the underway VSIP to the growth of Quang Ngai, noting that the park created jobs for about 30,000 local labourers.
He reminded authorities at all levels and leaders of Quang Ngai province to pay more attention to administrative reform, ensuring that all investors in Vietnam in general and Quang Ngai in particular can enjoy a favorable investment and business environment, thus expanding their operations and bringing higher value to the country, contributing to realising the goal of turning Vietnam into a developed country with high income by 2045.
President Thuong said he believes that VSIPs in Vietnam and in Quang Ngai in particular will reap more success in the coming time, helping further deepen the Vietnam-Singapore strategic partnership.
At the ceremony, Quang Ngai authorities granted investment licences to four new projects in the Quang Ngai VSIP, which have a total capital of $69.3 million.
The provincial People's Committee province also issued licences to two expanded projects with a combined additional capital of $10.8 million.
On the occasion, donors also presented scholarships to poor students with good academic performance in Quang Ngai.
