Chaired a meeting of the Government’s standing members and Standing Board of the Government Party Committee, PM Pham Minh Chinh hailed the Ministry of Industry and Trade (MoIT), Quang Ngai province, and relevant ministries and agencies for swiftly advancing the project.
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PM Pham Minh Chinh speaks at the meeting. (Photo: baochinhphu.vn) |
He noted that the suggested mechanisms and policies are firmly rooted in political foundation and practical needs. They align with the national energy master plan and the long-term energy development strategy, the 14th Party Central Committee’s conclusion on the 2026–2030 socio-economic plan at its second plenum, and Party General Secretary To Lam’s call to build a strong energy sector capable of supporting double-digit growth while exploiting the Ca Voi Xanh (Blue Whale) gas field.
The PM directed the MoIT to collect feedback at the meeting to finalize related documents. Other ministries and agencies were told to contribute promptly to issues under their purview. For existing mechanisms and policies, relevant bodies should move forward proactively within their authority, while matters requiring the Government's approval will be handled directly by the Cabinet.
After the meeting reached consensus on proposing special mechanisms and policies, the PM requested further review to clarify both resolved and pending issues. For matters under the National Assembly (N.A.)’s authority, pilot mechanisms should be proposed, with the MoIT preparing a draft resolution for submission to the legislature.
This is a large-scale center requiring maximum resources, including those from the State and private sectors, central and local budgets, domestic and foreign investment sources through direct and indirect channels, he said.
Dung Quat EZ is ideally placed to become a national refining and energy hub thanks to its strategic location, deep-water port, established industrial base, and Dung Quat Oil Refinery - the country’s first plant of its kind. The center is expected to generate momentum not only for Quang Ngai but for the entire central coastal region and the broader national economy.
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PM Pham Minh Chinh chairs the meeting of the Government’s standing members and Standing Board of the Government Party Committee on April 3. (Photo: baochinhphu.vn) |
The project aims to create an integrated energy-industrial complex spanning oil refining, petrochemicals, natural gas, liquefied natural gas (LNG), power, and renewable energy, closely tied to circular and low-carbon economy goals.
It will develop a full value chain, from oil and gas imports, storage and processing to energy production and industrial products, serving both domestic demand and exports. Advanced technologies such as green hydrogen, green ammonia, carbon capture and clean energy solutions will be integrated to support Vietnam’s energy transition.
Beyond increasing domestic output, the hub is designed to ensure energy security, boost international competitiveness, attract foreign investment, develop supporting industries, generate jobs, and contribute to sustainable growth with lower greenhouse gas emissions.
The provincial People's Committee drew on international best practices to propose a package of mechanisms and policies, some under the Government’s authority and others requiring approval from the N.A.
Source: VNA