On 19/10, the Quang Ngai provincial People's Committee announced that the Party Central Committee Office communicated the Politburo's directive regarding special mechanisms and policies for developing the national oil refinery, petrochemical, shipbuilding, and energy center in Dung Quat Economic Zone.

Following a review of the Government Party Committee's proposal and input from relevant agencies, the Politburo has agreed in principle to grant Dung Quat Economic Zone the same mechanisms and policies applied in the Hai Phong and Da Nang free trade zones. Additionally, it will receive the highest incentives permissible under the Urban Development Law.

The Politburo has instructed the Government Party Committee to collaborate with the National Assembly Party Committee. Their task is to ensure this directive is included in the agenda and resolution for the second session of the 16th National Assembly.

This approval provides the foundation for the Government to finalize specific mechanisms and policies for Dung Quat. These measures are designed to meet the development needs of the oil refinery, petrochemical, shipbuilding, strategic reserves, and national energy sectors.

These special mechanisms are also expected to address existing challenges in investment, land, planning, administrative procedures, technology, and human resources. This streamlined approach aims to attract strategic investors, facilitate large-scale projects, and encourage the application of modern technology.

Seaports are an advantage of Dung Quat Economic Zone. Photo: Thanh Linh

Dung Quat Economic Zone boasts several advantages, including a deep-water seaport system, an integrated transportation network, and essential infrastructure for electricity, water, and waste treatment, along with supporting urban areas. The zone is also home to the Dung Quat Oil Refinery, Vietnam's inaugural oil refinery, which has established a robust foundation for the development of oil refinery, petrochemical, heavy industry, and energy sectors.

Currently, Dung Quat Economic Zone hosts 296 active projects, representing a total registered capital of 421,683 billion VND (approximately 19.27 billion USD). Of these, 217 projects are operational, with an implemented investment capital of about 282,457 billion VND (approximately 13.68 billion USD). In 2025, the industrial production value reached approximately 284,500 billion VND, with the economic zone contributing around 27,774 billion VND to the state budget each year.

The Dung Quat Oil Refinery possesses a processing capacity of 6.5 million tons of crude oil per year, fulfilling over 30% of the national demand for petroleum products. Since commencing operations in 2009, the refinery has produced and supplied over 101 million tons of petroleum products. This has generated a total revenue exceeding 1.8 million billion VND and contributed over 245,000 billion VND to the state budget.

The national oil refinery, petrochemical, shipbuilding, and energy center is envisioned as an integrated hub. It will encompass oil refinery, petrochemical, chemical, shipbuilding, and energy sectors, alongside supporting industries, logistics, and other related fields.

Dung Quat Oil Refinery. Photo: Thanh Linh

By 2030, the center aims to fully satisfy the petroleum demand of Central Vietnam and the Central Highlands, while also meeting at least 30% of the national demand. It plans to establish crude oil reserves equivalent to 20 days of production and petroleum product reserves for 20 days of consumption. The projected total final energy output is about 8 million tons of oil equivalent.

Furthermore, the oil refinery and petrochemical center targets attracting 5 billion USD in domestic and foreign investment. This is expected to contribute 30% to Quang Ngai's economic growth and generate an additional 5,000 jobs by 2030.

Looking further ahead to 2045, the center aims to attract a total investment of 50 billion USD. This ambitious goal is set to transform it into a leading innovation hub for energy and materials, thereby enhancing national competitiveness and bolstering national energy security.

According to the Quang Ngai provincial People's Committee, the Politburo's agreement to implement these special mechanisms represents a crucial step. It provides the strategic direction needed to finalize the legal framework, enabling Dung Quat to fully leverage its advantages: its deep-water seaport, established industrial base, and strategic location. This will ultimately boost investment attraction and accelerate energy industrial development in Quang Ngai.

Pham Linh