Hoa Phat and Quang Ngai Province signs investment agreement

The Quang Ngai Investment Promotion Conference 2019 was taken place on July 2th 2019 under series of events celebrating the 30th anniversary of the province's re-establishment. Mr Tran Tuan Duong, general director of Hoa Phat Group signed strategic investment agreement with Quang Ngai Province.

Prime Minister Nguyen Xuan Phuc attended the Quang Ngai Investment Promotion Conference 2019

With the theme "Quang Ngai - Accompanying with enterprises", the conference was attended by Prime Minister Nguyen Xuan Phuc, leaders of ministries and central and local agencies and over 500 domestic and foreign enterprises. Representatives of Hoa Phat Group included Chairman Mr Tran Dinh Long, General Director Mr Tran Tuan Duong and Board of Directors of Hoa Phat Dung Quat Steel Joint Stock Company attended the event.

The conference was attended by more than 500 local and foreign businesses

Speaking at the conference, general director Mr Tran Tuan Duong said the Hoa Phat Dung Quat Iron and Steel Integrated Complex was approved by Prime Minister for investment in January 2017, inheriting a steel project which was delayed for 10 years of a foreign corporation. Right after being granted investment certificate by Quang Ngai Province in February 2017, Hoa Phat Group has mobilised all the best resources on finance, human resources and technology for the project.

Mr Tran Tuan Duong, general director of Hoa Phat Group delivered a speech at the conference

After two years and a half of mobilising all best resources in terms of finance, human resource and technologies for the project, the complex has been completed its 95 per cent of main works in the first phase and 60 per cent of the second phase. It is expected that the complex come into full operational in 2021, Hoa Phat Group would achieve a revenue of VND100 trillion and contributing to the State budget of over VND10 trillion a year.

Under the conference, Hoa Phat Group signed a strategic co-operation agreement with Quang Ngai Province. Accordingly, Hoa Phat Group would give priorities and focus its investments or co-operation with partners in the province to invest into many fields such as steel production and trading, seaport and logistics services, real estate and tourism, hi-tech agriculture, production of household products such as: tables, chairs, safes.

Prime Minister Nguyen Xuan Phuc and attendants witnessed the signing of strategic investment agreement between Hoa Phat Group and Quang Ngai Province

Hoa Phat Group has been granted licences to six projects in the province relating to steel production, container port with total registered capital of some VND68 trillion. Alone the Hoa Phat Dung Quat Iron and Steel Integrated Complex has a total registered capital of VND60 trillion.

The province’s leaders granted investment licences to businesses including Hoa Phat Group at the conference

Hoa Phat Group proposed to the province to adjust the investment, increasing capacity and supplement extended phase of the Hoa Phat Dung Quat Iron and Steel Integrated Complex project by 5 million tonnes to the total of 9 million tonnes a year.

General director Mr Tran Tuan Duong sent his thanks to timely accompanying and supports of central and local ministries and agencies to their operation. Hoa Phat Group could implement the complex quickly and bringing some factories into operation and having revenue after nearly three years of receiving licence were thank to supports from local authorities as well as people in the project’s areas.

Hoa Phat Group proposed expected to continue to receive supports from Quang Ngai Province to timely resolve their difficulties in investment process, land clearance and providing high quality and professional human resources.

A booth of Hoa Phat Group at the conference

Chairman of the provincial People’s Committee Mr Tran Ngoc Cang affirmed that Quang Ngai would facilitate investors through preferential policies in terms of land rental, infrastructure, administrative procedures, training and labour employment. The province would have consistent policies in investment to create a favourable investment environment to build Quang Ngai become an “attractive destination” to both local and foreign investors.

Nghi Tran