In his speech delivered at the 13th National Congress of the Communist Party of Vietnam, Secretary of the Quang Nam provincial Party Committee Phan Viet Cuong said that Vietnam’s marine economy and international economic integration have made great progress, contributing to the national socio-economic development.
Quang Nam has focused on policies and plans for coastal economic development since its re-establishment in 1997. It has been considered as the key for the provincial economic development.
So, the Chu Lai Open Economic Zone (OEZ) was born and became the first open economic zone of Vietnam.
Since then, Quang Nam province has also had orientation and solutions for the development of its coastal areas. The Chu Lai OEZ is identified as a multidisciplinary and multi-sector marine economic zone, a centre for automobile and supporting industries, a centre for gas-electricity and petrochemical products, textile and garment supporting industries, hi-tech industries, a centre for organic agricultural production and hi-tech farming, a travel service centre associated with Chu Lai airport and Chu Lai-Ky Ha seaport system.
This place is developed as one of the important hubs for transportation, inter-regional and international trade.
The infrastructure of the Chu Lai OEZ has been improved. The OEZ has attracted 173 projects with a total capital of over VND120 trillion billion. 112 of them have come into operation.
The number of FDI projects is 46, corresponding to 674.261 million dollars, accounting for 12.2% of the total investment capital. On average, the Chu Lai OEZ submits an annual budget equivalent to 65% of the whole provincial one.
Since 2017, Quang Nam province has regulated its budget and contributed to the Central budget. According to the goals of the 22nd Party Congress of the Provincial Party Committee (term 2020 - 2025), Quang Nam makes every effort to become a national developed province by 2030.
The annual average economic growth rate is from 7.5% to 8%, and per capita income is from 4,800 to 5,000 USD by 2025.