Hoa Phat Dung Quat Steel Company makes great contributions to Quang Ngai industry sector
From 2018 to 2023, the average growth rate of the Quang Ngai industrial sector reached 8.5 per cent per year, in which, the proportion of industry in GRDP increased from 37.5 per cent in 2018 to 42.3 per cent in 2023.
In 2024, the industrial sector with heavy industrial manufacturing enterprises played a leading role, helping Quang Ngai exceed its economic growth plan.
Dung Quat Oil Refinery and Hoa Phat Steel have made outstanding contributions to Quang Ngai's industrial growth.
In 2024, the total budget revenue of Quang Ngai province reached nearly 30,000 billion VND, of which, the revenue from import-export activities reached nearly 11,800 billion VND.
The revenue from import-export activities mainly comes from Hoa Phat Dung Quat Steel Joint Stock Company with a revenue of about 7,700 billion VND.
Dung Quat deep-water seaport is the driving force for logistics development
Iron and steel output of Hoa Phat Dung Quat in 2025 is expected to reach about 7.1 million tons, an increase of nearly 30 per cent compared to 2024, contributing to increasing the proportion of industry-construction in Quang Ngai province by more than 15 per cent compared to 2024.
Currently, Quang Ngai province has developed six industrial parks in the Dung Quat Economic Zone and two industrial parks outside the Dung Quat Economic Zone, attracting 490 industrial projects with a total investment capital of 393,000 billion VND, including 65 FDI projects.
Quang Ngai province promotes investment attraction activities in 2025
This year, Quang Ngai province continues to develop heavy industry with the Dung Quat Oil Refinery and Hoa Phat Dung Quat Iron and Steel Complex as the leading enterprises.
For sustainable industrial development, Quang Ngai province focuses on attracting FDI investment projects with priority given to green industrial investment projects, high-tech industrial projects, connecting production and supply value chains, and completing inter-regional transport infrastructure.
Dung Quat oil refinery
In 2025, Dung Quat oil refinery will operate at 100 per cent capacity without maintenance. Hoa Phat Dung Quat 2 Iron and Steel Complex Project will start production. Hoa Phat Dung Quat High-Quality Steel Wire Factory will also start operation in 2025. In addition, the province has just started construction of VSIP II Quang Ngai. Those are the basis for Quang Ngai province to achieve the growth rate target of 8.5 per cent.
Minh Thien
