Dung Quat Economic Zone:
Dung Quat Economic Zone is a liberal economic area of Vietnam. It was established by Decision No. 50/2005/QD-TTg on March 11, 2005, issued by the Prime Minister of Vietnam. This zone is being developed in the eastern part of Binh Son District, Quang Ngai Province, Vietnam.
Covering an area of 45,322 hectares, Dung Quat is a comprehensive economic area with diverse industries and sectors. It includes a major oil refinery, a mechanical-metallurgical and national energy center, and a large logistics center in the region. It aims to effectively exploit the Dung Quat deep-sea port and the Chu Lai airport, making it a crucial international trade and transport hub in the Central and Central Highlands region.
To date, the Dung Quat Economic Zone and Quang Ngai industrial parks have attracted nearly $18 billion in registered investment capital, with an actual disbursement of about $9.2 billion. Among them are industrial zones such as Tinh Phong, Quang Phu, and Pho Phong, covering over 400 hectares, attracting 105 investment projects with a registered capital of nearly 8.372 trillion VND.
Over the span of more than 26 years, Dung Quat Economic Zone has made notable strides in development. Nationally, people consider it as a trailblazer and a successful economic zone, as well as a hub for industrial production. Additionally, it serves as the core growth and the driving force behind the economic and social development of Quang Ngai Province and the Central Key Economic Region.
Master plan map of Dung Quat Economic Zone – Quang Ngai – TTTFIC Group
Geographical location of Dung Quat Economic Zone:
Dung Quat is situated in Binh Son District, Quang Ngai Province. It neighbors Chu Lai Airport to the northwest, National Highway 1A to the west, the East Sea to the east and northeast, and Quang Ngai City to the southwest.
– It is 880 km from Hanoi
– 870 km from Ho Chi Minh City
– 185 km from Quy Nhon City
– 100 km from Da Nang City
– 25-40 km from Quang Ngai City
– 13 km from Chu Lai Airport
– 30 km from the inland waterway
– 190 km from the international sea route
The planned research area has a total area of about 45,332 hectares, including: 10,300 hectares of the existing economic zone, about 24,280 hectares of expansion area, and about 10,752 hectares of sea surface area.
The area includes the entire area of the communes of Binh Dong, Binh Thanh, Binh Chanh, Binh Thuan, Binh Tri, Binh Hai, Binh Phuoc, Binh Hoa, Binh Phu, Binh Duong, Binh Thanh Dong, Binh Thanh Tay, Binh Tan, Binh Chau, Binh Thoi, and parts of the communes of Binh Nguyen, Binh Long, Binh Hiep, Binh Trung in Binh Son District; Chau O town; the entire area of Tinh Phong, Tinh Hoa, Tinh Ky communes and part of Tinh Tho commune in Son Tinh District; the entire area of Ly Son Island District; and the adjacent sea area (about 10,752 hectares).
The planning boundary is defined as follows:
– The East borders the East Sea.
– The West borders the North-South railway.
– The South borders the expanded planning boundary of Quang Ngai City.
– The North borders Quang Nam Province.
Industry attracting investment:
– Petroleum refining and chemical industry; energy (electricity, gas)…
– Metallurgy, shipbuilding and repair, mechanical fabrication, supporting industries;
– Food industry, consumer goods, packaging, textiles, footwear, construction materials…
– Production of components and assembly of cars, electrical and electronic devices…
– Processing of agricultural and forestry products for export, high-tech agriculture…
– Sea port business, logistics…
– Infrastructure development for industrial zones;
– Urban development, housing, education;
– Tourism, services (hotels, restaurants, golf courses, resorts, entertainment areas…).
Some investment incentives policies include:
– Corporate income tax: Preferential tax rate of 10% for 15 years. Tax exemption for 4 years, 50% reduction of payable tax for the next 9 years. For large and important projects approved by the Prime Minister, the preferential tax rate of 10% is applied for 30 years;
– Tax exemption for imported goods to create fixed assets for the project;
– Import tax exemption for 5 years from the start of production for domestically unavailable raw materials, supplies, and semi-finished products imported for the project;
– 50% personal income tax reduction for individuals with income arising in Dung Quat Economic Zone;
– Land rent:
Full exemption: For projects in specially prioritized sectors;
Exemption for 11-15 years: For projects in favored sectors;
Furthermore, Quang Ngai province has issued policies supporting compensation costs, labor training… to encourage investment into the province, including the Dung Quat Economic Zone.
The land for lease that belong to Industrial Park has run out of stock. Only the land and warehouse has been re-invested by individual investor that still available
TTTFIC Group: Guide to Industrial Real Estate in Vietnam
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Industrial real estate in industrial zones, Vietnam
TTTFIC Group
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