On July 29, representatives of the Dung Quat Economic Zone and Industrial Parks Management Board in Quang Ngai announced Deputy Prime Minister Bui Thanh Son’s official conclusion on the proposal for the National Refining and Energy Center at Dung Quat Economic Zone.

As per the conclusion, the Ministry of Industry and Trade will lead the study and submit a plan to the Prime Minister on assigning responsibilities to concerned ministries and agencies to organize the formulation of the Center. The final report must be completed and submitted for consideration no later than July 31.

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Deputy Prime Minister Bui Thanh Son emphasized that the proposal should align with strategic planning, draw lessons from international models, and incorporate elements of “uniqueness and breakthrough” in line with Resolution No. 26 of the Politburo on developing the North Central and Central Coastal regions by 2030, with a vision to 2045.

The project is expected to attract total investment capital of between USD 16.1–20.5 billion, divided into two phases. Phase 1 (2025–2030) is considered the critical phase, requiring USD 14.1–17.5 billion. Phase 2 (2031–2045) will involve an additional investment of around USD 2–3 billion.

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The center is expected to meet at least 30% of the country’s petroleum demand and maintain reserves equivalent to 30 days of production and consumption. By 2050, it aims to not only be a national energy leader but also become one of the largest refining and petrochemical hubs in Southeast Asia.

Once operational, the center will create approximately 30,000 jobs and contribute around 30% of Quang Ngai's GRDP. It will also stimulate growth in related sectors such as logistics, high-tech industries, workforce training, and urban development, thanks to substantial secondary investment flows.

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Ms. Bui Thi Quynh Van, Secretary of the Quang Ngai Provincial Party Committee, affirmed that the proposal presents a transformative opportunity for the province. Therefore, the most pressing task now is to attract and prepare for incoming investments - especially in supporting industries and energy.

In the context of global energy transition, the Dung Quat Petrochemical and Energy Center is not only focused on traditional energy but is also oriented towards clean energy. By 2030, renewable sources are projected to contribute 5–10% of the center’s electricity production, increasing to 20% by 2050 - aligning with Vietnam’s net-zero commitment at COP26.

Over 15 years ago, Dung Quat marked the birth of Vietnam’s domestic oil refining industry with the Dung Quat Refinery, a national key industrial project. Today, this region is poised to take on an even greater responsibility, transforming into the National Refining and Energy Center, leading a new era of development.

Since 2022, the Quang Ngai Provincial People’s Committee has been proactively collaborating with the Ministry of Industry and Trade to establish a task force for developing the proposal. By December 2024, the formal dossier was submitted to the government. At a meeting on July 17, the Deputy Prime Minister issued his final conclusion, marking a key milestone in realizing the vision of Vietnam’s largest energy center.

Thanh Nien News