High-Quality FDI Inflows: Quang Tri Ready For Economic Breakthrough

Strong Transformation – Opening Doors To International Investment

In an environment where global FDI inflows are increasingly gravitating towards stable and strategically clear destinations, Quang Tri is making a significant mark. Despite its humble beginnings, the province has emerged strongly, establishing itself on the national FDI attraction landscape. This transformation is a direct result of the local government’s comprehensive shift in approach and execution, which includes accelerating administrative reform, cultivating a collaborative culture that “accompanies investors,” and diligently addressing challenges related to institutions, infrastructure, and land.

Notably, Quang Tri doesn’t just “welcome” investors; it actively “seeks” capital through diverse international investment promotion activities. In 2023 and 2024, the province successfully organized many important events such as the first “Meet Thailand” conference, investment promotion activities in Ho Chi Minh City, working visits to Lao provinces, an investment promotion conference in South Korea, and a successful conference to announce the provincial master plan for 2021-2030 with a vision to 2050 combined with investment promotion.

Thanks to these efforts, in 2024, Quang Tri attracted 40 investment projects with a total registered capital of over VND 12,098 billion, a four-fold increase compared to the previous year. This includes 2 new FDI projects with a total capital of USD 2.633 million. To date, the entire province has 28 effective FDI projects with a total investment of nearly USD 2.8 billion, creating jobs for over 2,000 laborers.

FDI projects in Quang Tri not only bring economic value but also create spillover effects in technology, labor skills, and the formation of a modern business ecosystem. Prominent examples include the Hai Lang LNG Power Center Project with an investment capital of up to USD 2.317 billion, and the Quang Tri Industrial Park Project by the VSIP – Amata – Sumitomo joint venture, which is expected to pave the way for secondary investors into the province. South Korea is emerging as a dynamic FDI partner in Quang Tri, with companies like Sangshin Electronics and Poong In officially operating factories in Dong Ai Tu Industrial Cluster (Trieu Phong district), and cooperation with SK Group and SK E&S in green growth and investment-trade promotion.

Removing “Bottlenecks” – Growth Through Selective FDI

Despite achieving many positive results, Quang Tri frankly admits that the province’s FDI attractiveness is not yet commensurate with its potential. Some “bottlenecks” that need to be addressed include limitations in clean land funds, land clearance progress, less competitive investment incentive mechanisms, and incomplete connecting infrastructure.

To unblock these issues, Quang Tri has issued Decision No. 447/QD-UBND approving the Scheme on Investment Attraction Orientation for the 2023-2025 period, with a vision to 2030. The focus is on identifying three pillars of economic development: industry – construction, modern agriculture, and smart services – tourism. The province prioritizes attracting investment in sectors such as: renewable energy (solar, wind, gas power), agricultural – forestry – fishery processing industry, supporting industries, construction materials industry, textiles, logistics, and high-quality service types. Notably, projects in high-tech agriculture, eco-tourism, smart cities, semiconductor materials, and marine economic development are also encouraged.

With the goal of achieving a GRDP per capita of VND 89.7 million in 2025, Quang Tri has clearly defined the role of high-quality FDI as a key “catalyst” for breakthroughs. Mr. Le Duc Tien, Vice Chairman of the Provincial People’s Committee, emphasized that Quang Tri is orienting investment attraction towards depth, carefully screening projects to select investors with strong capabilities, modern technology, and a commitment to sustainable development. This “choose right over choose many” approach helps Quang Tri avoid “attracting at all costs,” thereby ensuring environmental safety and long-term efficiency. Simultaneously, the province actively and regularly reviews and enhances the responsibility of the Steering Committee members established by the Quang Tri Provincial Party Committee in implementing key projects within the locality.

With strategic steps and high determination, Quang Tri is creating an attractive investment environment, ready to welcome and effectively leverage high-quality FDI capital, contributing to sustainable economic development.