Industrial Development

 

Dung Quat Refinery

Industrial development continues to be a breakthrough mission of the province in the 2016-2020 period. Industrial production value in 2020 is estimated at 132,965 billion VND, an average increase of 4.49%.

Industry is the mainstay of the province's economic growth and development, focusing mainly on products in the group of processing and manufacturing industries, accounting for more than 98% of industrial production value, such as: industry petrochemical refining (proportion of nearly 60%), food and beverage processing industry (proportion of more than 8%), manufacturing of machinery and mechanical equipment (proportion of more than 4%) and new products from the metallurgical industry, metal production (proportion nearly 4%).

The forest product processing industry is also one of the strong branches of the province, mainly thanks to the advantage of on-site afforestation materials (density 2.5%). The production of electronic products, optical products, newly formed in 2012 and the products are mainly for export. The textile and garment, leather and footwear industry is an industry with development advantages of the province thanks to its relatively abundant labor force, high annual growth rate (12.7% / year). The mining industry groups, the electricity and gas production and distribution industries, the water supply, waste treatment and wastewater industries make up a small proportion of the value of industrial production.

Doosan Vina’s products exported to foreign countries

In addition to the products of Dung Quat Oil Refinery, mechanical products, heavy industrial equipment of Doosan Vina Company ... not only provide the domestic market but also export to nearly 20 advanced countries in the world, bringing high export value, expanding markets to countries such as the Middle East, India, USA, Canada, Australia ...

Especially, in 2017, Hoa Phat Group started to invest in building the Complex. Hoa Phat Dung Quat iron and steel with a total investment of about 60,000 billion VND and has produced products in 2019.

Processing industries of agriculture, forestry, seafood, food and drinking water have thrived thanks to the good exploitation of local raw materials, especially for products such as: RS sugar, confectionery, mineral water, Wheat starch, furniture, paper materials and seafood.

The supporting industries for the mechanical, electrical - electronic industries are gradually formed, but the scale and extent are still small, only supporting products for the relatively developed textile and garment industry.

Rural industrial factories and establishments are mainly concentrated in 18/23 industrial clusters with an area of ​​299 hectares. Up to now, it has attracted 139 investment registration projects with a total registered capital of about 2,525 billion VND. There are 88 projects in operation, creating jobs for about 3,850 workers with an average income of 5-7 million VND / month and contribute to promoting the development of industry - handicraft of localities in the province.

Infrastructure of Dung Quat economic zone, industrial zones and industrial clusters are interested in investing in upgrading and expanding.

The work of attracting investment in the industrial sector was focused and achieved many positive results. From 2016 up to now, Dung Quat Economic Zone and the provincial industrial zones have attracted 176 investment projects with a total investment of about 153 trillion dong (equivalent to 6.6 billion USD). Of the total, there are 36 FDI projects with total registered investment capital of 859.07 million USD, Creating jobs for more than 50,000 employees. In which, VISP Industrial - Service - Urban area alone attracted 25 investment projects with a total registered investment capital of 832.7 million USD; 12 projects have been put into operation, creating jobs for over 11,000 workers.

Many important infrastructure projects have been completed and put into use, contributing to promoting the development of Dung Quat Economic Zone and industrial parks.

VSIP Industrial Parks

In addition to the state budget capital, the province also focuses on attracting social resources and supporting investors to synchronously invest in infrastructure systems for development such as: Infrastructure for VSIP Industrial Parks, Urban - Industrial Dung Quat, Binh Hoa Industrial Park - Binh Phuoc ...

 (Source: the 5-year socio-economic report (2015-2020) of Provincial People’s Committee)