The Dung Quat economic zone will create favourable conditions to attract investment into the central province's industrial zone, Chairman of the People’s Committee Nguyen Xuan Hue stated.

The provincial leader made the statement at a recent ceremony to transfer the operating rights of the Zone's Management Board from the Prime Minister’s control to the provincial People’s Committee.

Mr Hue said that the province is focusing on the construction of the Dung Quat Oil Refinery and other major projects in the zone as a catalyst for the area's future growth.

Head of the Dung Quat Economic Zone Management Board, Tran Le Trung said that up until May, as many as 105 projects worth US$4.6 billion have been licensed. They included 6 foreign owned initiatives valued at US$833.4 million.