The project was approved by the Ministry of Industry and Trade (MoIT) on December 19, 2023. Previously, on December 5, 2025, Prime Minister Pham Minh Chinh chaired a meeting of the Government’s standing members to discuss proposed mechanisms and policies to step up the project.
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At the working session between Standing Deputy Prime Minister Nguyen Hoa Binh and authorities of central Quang Ngai province |
Provincial authorities have recently teamed up with Binh Son Refining and Petrochemical JSC (BSR), along with relevant agencies, to review the needed policies and mechanisms. So far, Quang Ngai has suggested that the MoIT lead the effort in finalizing the project proposal and submitting it to the proper authorities.
Vice Chairman of the provincial People’s Committee Do Tam Hien highlighted the center’s important role not just for Quang Ngai but for Vietnam overall. The locality has secured sufficient land to maintain momentum and channeled resources into compensation, site clearance, and resettlement, all of which are key steps for the project.
In his speech, Binh stressed the critical need for a strategic investor in the venture. The Vietnam National Industry – Energy Group (Petrovietnam) will serve dual roles as project owner and the lead entity for management, investment attraction, and operations, necessitating tailored mechanisms and policies for the state-owned group.
According to him, the project brings a major opportunity for Quang Ngai, given that few locations are selected to host a national-scale center equipped with integrated ports and offshore oil and gas pipeline linkages to the mainland. Therefore, Quang Ngai must seize this opportunity by fully harnessing local and national resources to maximize the center's potential.
He assigned Quang Ngai to work closely with Petrovietnam to review land-use planning and existing projects before groundbreaking. Regarding power planning, which falls under the MoIT's purview, adjustments to the Power Development Plan VIII are required, along with plans to supplement the list of energy projects within the center. Relevant agencies were also requested to study and propose incentive mechanisms aligned with those already in place for domestic economic and commercial zones.
Source: VNA