Quang Tri: A new destination for strategic FDI inflows

Amid the global investment flows shifting toward stable, flexible destinations with clear strategic visions, Quang Tri is making its mark through bold, long-term, and steadfast initiatives. From a province with a modest starting point, Quang Tri is now rising strongly in its efforts to position itself on the national FDI attraction map.

Infrastructure momentum and open institutions unlock the “gateway” to international investment.

Quang Tri’s success is not a matter of luck but the result of a comprehensive shift in mindset and action by the local government. The province has accelerated administrative reforms, fostered a culture of “partnering with investors”, and focused on addressing institutional, infrastructural, and land-related bottlenecks.

The provincial government of Quang Tri has notably gone beyond just "welcoming" investors; through a variety of international investment promotion initiatives, it has actively sought out investment funds. Among the major highlights of 2023 and 2024 were the first "Meet Thailand" conference in Quang Tri, investment promotion events in Ho Chi Minh City and other southern provinces, the Provincial Party Standing Committee's working visits to Laos' Salavan, Savannakhet, Champasak, and Sekong provinces, an investment promotion conference in South Korea, and the successful holding of the Provincial Planning Announcement Conference for the 2021–2030 period, with an eye toward 2050, in tandem with investment promotion initiatives. Among the other noteworthy events was the conference titled "Lao Bao – Densavan Cross-Border Economic and Trade Zone: From Idea to Reality."

Vice Chairman of the Quang Tri Provincial People’s Committee Le Duc Tien works with T&T Group.

In 2024, the province attracted 40 investment projects with a total registered capital of over VND 12.098 billion, four times higher than the previous year. Among them were 2 new FDI projects with a total capital of USD 2.633 million, along with 5 capital contribution filings worth more than VND 2.186 billion. To date, the province has 28 valid FDI projects with a total investment of nearly USD 2.8 billion, of which 22 are operational, creating jobs for over 2.000 workers.

FDI projects in Quang Tri not only generate economic value but also create spillover effects in technology transfer, workforce skills development, and the formation of a modern business ecosystem. Notable examples include the Hai Lang LNG Power Center project, with an investment capital of USD 2.317 billion, implemented by a joint venture between T&T Group, Hanwha, KOSPO, and KOGAS (Vietnam & South Korea); and the Quang Tri Industrial Park project by the VSIP – Amata – Sumitomo joint venture, which is expected to pave the way for secondary investors to enter the province.

One of the most active FDI partners in Quang Tri among the foreign investors presently operating in the province is South Korea. Sangshin Electronics and Poong In businesses, which formerly run plants in the Dong Ai Tu Industrial Cluster in the Trieu Phong district, serve as examples of this. They also collaborate with SK Group and SK E&S Company in the areas of trade, investment promotion, and green growth. The province began a new phase in luring investment and growing trade collaboration in Quang Tri in April 2024 when it signed a memorandum of understanding on investment cooperation with Changwon Special City.

Currently, the Quang Tri Industrial Park project, invested by Quang Tri Development Joint Venture Company Limited (a joint venture of three investors: VSIP, Amata, and Sumitomo), has completed 95% of the ground leveling and technical infrastructure construction in its first phase. At the same time, plans for further expansion of the project are also under study. (Photo: Ngoc Tan)

Removing “bottlenecks” and unlocking growth through selective FDI

Despite many positive achievements, Quang Tri provincial leaders frankly acknowledge that the province’s FDI attraction remains below its potential. Some barriers such as limited clean land fund, slow site clearance progress, non-competitive investment incentive mechanisms, and incomplete connectivity infrastructure, are key “bottlenecks” that need timely resolution to enhance the effectiveness and quality of investment promotion efforts.

To unblock these bottlenecks, the province issued Decision No. 447/QD-UBND approving the Investment Attraction Orientation Scheme for the 2023–2025 period, with a vision toward 2030. The scheme focuses on three key pillars of economic development: industry - construction, modern agriculture, and smart services - tourism.

The province prioritizes attracting investment in sectors such as renewable energy (solar power, wind power, and gas power), processing industries for agricultural, forestry, and aquatic products, supporting industries, construction materials, textiles, logistics, and high-quality service sectors. At the same time, investments in high-tech agriculture, ecotourism, smart urban development, materials for the semiconductor industry, and marine economic development are also encouraged.

Mr. Nguyen Duc Tan, Director of the Quang Tri Center for Investment, Trade, and Tourism Promotion, stated that one of Quang Tri’s strategic moves is developing key infrastructure systems. The My Thuy port project, an international trade gateway, the Quang Tri airport project connecting the region and international destinations, along with the Southeast Quang Tri Economic Zone, are expected to serve as leverage for a surge in FDI investment in the near future.

"Quang Tri province views FDI attraction not merely as an investment invitation but as a well-prepared process spanning institutions, infrastructure, and human resources. Proactiveness, transparency, and close partnership with investors are vital factors that create investment appeal in the new context", Mr. Tan shared.

Quang Tri investment promotion workshop in South Korea.

Long-term vision – Sustainable destination

In the context of the government setting a national GDP growth target of at least 8% for 2025, Quang Tri has clearly identified the role of high-quality FDI as a crucial factor for achieving breakthroughs. The goal of reaching an average GRDP per capita of VND 89.7 million in 2025 presents a challenge but also motivates the province to take even more decisive action.

According to Mr. Le Duc Tien, Vice Chairman of the Quang Tri Provincial People’s Committee, Quang Tri is currently focusing on attracting investment in depth by carefully screening projects to select investors with strong capacity, modern technology, and commitments to sustainable development. The approach of “choosing quality over quantity” helps Quang Tri avoid “attracting investment at all costs”, thereby ensuring environmental safety and long-term effectiveness. The province also actively and regularly reviews and enhances the responsibilities of members of the Steering Committee, established by the Quang Tri Provincial Party Committee, in organizing the implementation of key projects in the province.

With its strategic location on the East-West Economic Corridor (EWEC), neighboring Laos, and offering convenient access to the East Sea through Lao Bao and La Lay international border gates, Quang Tri is expected to become a regional logistics and cargo transit hub. The province aims to be among the candidates for establishing a Free Trade Zone (FTZ) when conditions permit. This is a special advantage that few localities possess.

Above all, the spirit of openness, proactiveness, and innovation in the investment approach is creating the image of a friendly, responsible, and transparent Quang Tri, ready to warmly welcome and genuinely accompany businesses. This will be the foundation for the province not only to lead the new wave of FDI but also to retain enterprises and investors in the long term.