The Economic Development Potential of
Quang Nam Province

The Strategic Location of Quang Nam Province

Quang Nam is situated in the center of the Central Key Economic Region. This location helps the province connect with neighboring provinces and cities, creating a robust economic hub.

Important Trade Gateway with Southeast Asia

Quang Nam is not only the center of the region but also an important trade gateway with Southeast Asia. The province’s unique location enhances its value for economic activities, attracting trade, investment, and tourism.

Quang Nam plays an important role in the region’s and the country’s economy. With strong connections, the province asserts itself as a vital trade gateway.

Overview of the Economic Development Potential of Quang Nam Province

Quang Nam is in a favorable geographical position, with many opportunities for economic development. The infrastructure is being modernized to attract investment, making the province increasingly appealing to investors.

Potential Economic Sectors in Quang Nam Include:

• Tourism: Quang Nam has many cultural heritage sites such as the Ancient Town of Hoi An and the Imperial City of Hue. High-class coastal tourist spots create opportunities for tourism development.
• Agriculture: The province has great potential in high-tech agriculture and diverse coastal aquaculture.
• Industry: The Chu Lai Open Economic Zone is attracting industrial investors.
• Renewable Energy: Developing wind and solar power contributes to sustainable development goals.

The geographical location, infrastructure, and preferential policies make Quang Nam’s economic development potential increasingly effective. The province is aiming for a future of sustainable and prosperous growth.

Agriculture and Fisheries Sector

Quang Nam Province has considerable potential in agriculture and fisheries. The tropical climate, fertile soil, and abundant river systems provide favorable conditions for development. Quang Nam can invest in high-tech agriculture and diverse coastal aquaculture.

High-Tech Agriculture Development Potential

Quang Nam is favored by nature, attracting investors in high-tech agriculture. Products such as vegetables, fruits, and flowers are cultivated in a clean, safe, and sustainable manner. This creates a stable supply for the market.

Diverse Coastal Aquaculture

Quang Nam has a long coastline, making it suitable for aquaculture. Seafood species such as shrimp, fish, squid, clams, and snails are systematically harvested and farmed. This meets consumption demands both domestically and internationally.

Chu Lai Open Economic Zone

The Chu Lai Open Economic Zone is strategically located and attracting many investors. This area features modern infrastructure and attractive incentives. It is becoming increasingly appealing with various industrial, logistics, and service projects.

Advantages of the Chu Lai Open Economic Zone Include:

• Favorable location in the center of the Central Key Economic Region, serving as a gateway to Southeast Asia.
• A modern infrastructure system, including highways, seaports, international airports, and synchronized industrial zones.
• Attractive investment incentive policies, with tax exemptions, land support, and many other benefits.
• An abundant, skilled labor force with professional training facilities.

Due to these advantages, the Chu Lai Open Economic Zone is attracting many investment projects. This helps stimulate the socio-economic growth of Quang Nam Province.

Tourism with Diverse Cultural Heritage

Quang Nam Province is an attractive destination in Vietnam, with many UNESCO-recognized cultural heritages. The province’s tourism sector is developing, attracting domestic and international tourists.

Ancient Town of Hoi An

The Ancient Town of Hoi An is a highlight of Quang Nam tourism. In 1999, it was recognized by UNESCO as a World Cultural Heritage site. It is a cultural heritage of Quang Nam with unique historical and architectural value.

Imperial City of Hue

The Imperial City of Hue also attracts visitors with its architectural works and historical sites such as the Imperial Citadel, royal tombs, and Thien Mu Pagoda. In 1993, Hue was recognized by UNESCO as a World Cultural Heritage site.

“Quang Nam is one of the localities with the greatest tourism potential in Vietnam, with many unique historical and cultural sites and beautiful landscapes.”

Renewable Energy

Quang Nam has significant potential for developing renewable energy, especially wind and solar power. Investment projects in this sector are being promoted, helping to diversify the province’s energy sources.

Wind Energy Investment Potential in Quang Nam

Quang Nam has favorable geographical and climatic conditions for wind power development. Many large-scale wind power projects have been implemented or are underway, increasing Quang Nam’s renewable energy output.

Solar Energy Investment Potential in Quang Nam

Solar energy is also a potential sector in Quang Nam. Large-scale solar projects are attracting investor interest, creating clean electricity that contributes to the province’s renewable energy development goals.

Quang Nam is striving to diversify its energy sources, with renewable energy becoming increasingly important. With the strong development potential of wind and solar energy in Quang Nam, the province is laying the groundwork for a clean and sustainable energy future.

Modern Infrastructure

Quang Nam is heavily investing in its infrastructure to facilitate economic development, logistics, and attract investment. They are developing transportation, seaports, airports, and modern industrial zones.

Integrated Transportation System

Quang Nam has invested in transportation infrastructure, building roads, railways, and waterways. This enhances rapid transport and meets economic demands.

• Upgrading National Route 1A and constructing many new roads.
• Expanding Ky Ha Port and developing other seaports.
• Modernizing Chu Lai Airport and connecting it to major airports.

These projects will help develop Quang Nam’s infrastructure, attracting investment and boosting logistics.

Investment Support Policies

Quang Nam Province is making efforts to create an attractive investment environment. They have various investment incentive policies to attract investors. These policies include incentives related to taxes, land, and investment support services.

A prominent policy is the tax exemption or reduction for investing enterprises. Eligible projects will receive tax exemptions for the first 2-4 years. Afterwards, they will receive a 50% tax reduction for the following 4-9 years. This is an attractive benefit for investors.

Quang Nam also offers land incentives, such as preferential land rental rates. They support land clearance and provide integrated technical infrastructure. Support services such as consultation, procedural guidance, and investor connections are also prioritized.

With these incentives and support, Quang Nam is attracting many investors. They are creating a favorable investment environment for both domestic and foreign investors.

Conclusion

Quang Nam Province has significant economic development potential. It is diverse, ranging from tourism and agriculture to industry and renewable energy. The strategic location, modern infrastructure, and preferential policies help Quang Nam develop robustly.

Sectors such as high-tech agriculture, aquaculture, tourism, and renewable energy are growing, creating many attractive investment opportunities. The Chu Lai Open Economic Zone and modern infrastructure are strengths of Quang Nam in attracting investors.

Quang Nam promises to become an appealing destination, contributing to the socio-economic development of Central Vietnam.