BSR “accompanies” Quang Ngai’s development journey

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Transformation in economic scale and structure

Looking back to the past, as Vietnam approached the final phase of its historic mission to reunify the country, the people and military of Quang Ngai launched simultaneous offensives across multiple fronts, completely dismantling the enemy’s military and political system. On March 24, 1975, Quang Ngai was fully liberated, opening a new chapter for the land of Nui An – Song Tra. After reunification, Quang Ngai continued its development journey, with agriculture remaining the dominant sector, similar to most other regions in Vietnam. However, early efforts were already underway to invest in and attract industrial development, laying the foundation for the province’s economic transformation.

More than two decades after the liberation of Quang Ngai province, the Dung Quat Refinery was "conceived" to be established in the Dung Quat Economic Zone, laying the first foundation for Vietnam’s petrochemical and refining industry.

In 1989, when Quang Ngai Province was re-established following the separation of Nghia Binh into Quang Ngai and Binh Dinh, the province’s industrial production value stood at approximately 601 billion VND. Thanks to its favorable geography and abundant natural resources, Quang Ngai has held significant advantages in developing various heavy industries. In the 1990s, the economic structure was predominantly agriculture-based, with agriculture, forestry, and fisheries accounting for 55.7%, industry and construction 16.5%, and services 27.8%. By 2019, the province’s economy had undergone a dramatic shift toward industrialization and service expansion. The share of industry and construction rose to 51.9%, services increased to 29.8%, while agriculture, forestry, and fisheries declined to 18.3%. As of 2024, Quang Ngai’s industrial production value has surged to over 157 trillion VND—more than 260 times the figure recorded in 1989.

Experts studied the establishment of Vietnam's first refinery at the "desolate sandy area" in Dung Quat, Quang Ngai.

In this context, the scale and structure of Quang Ngai province have undergone significant changes since the Dung Quat Refinery launched its first commercial product line in 2009. In 2007, the provincial budget revenue of Quang Ngai was approximately 1,312 billion VND, and by 2010 (one year after the Dung Quat Refinery released its first commercial product line), the budget revenue reached 15,553 billion VND (an 11-fold increase), with BSR contributing 14,382 billion VND (accounting for 92.5% of the total provincial budget revenue).

In the years 2005, Binh Son district (Quang Ngai province) also developed a lot of infrastructure, transportation networks, and seaports, especially during the construction of the Dung Quat Refinery. To build the first refinery in Vietnam, it was necessary to improve the transportation network to transport large and heavy equipment. At the same time, the port system used for exporting products from the refinery was expanded and developed, helping to attract more investments to make the most of the advantages of the deep-water port in Dung Quat. As a result, maritime transport, warehouses, and logistics services grew rapidly in the Central region.

Prime Minister Vo Van Kiet along with experts during a survey trip for the construction of the Dung Quat Refinery.

With the aspiration to continue growing, Quang Ngai province has set many development goals, alongside a series of key projects, particularly two major initiatives: the National Oil Refining and Energy Center in the Dung Quat Economic Zone and the Development Plan for Ly Son Island district to become a coastal and island tourism center, which is currently under study. Notably, the National Oil Refining and Energy Center at the Dung Quat Economic Zone, with the Dung Quat Refinery, will be the "nucleus" of the project. This is one of the centers with many favorable conditions for development, bringing significant meaning and benefits to Quang Ngai province.

BSR grows alongside Quang Ngai

In 2008, BSR was established to take over, manage, and operate the Dung Quat Refinery. BSR's development journey is closely linked to the "growth of the province". The Dung Quat Refinery is located in Binh Tri commune, Binh Son district, Quang Ngai. Over the past 16 years, BSR has strived and grown alongside Quang Ngai, making significant contributions to the development of the oil refining industry in particular and Quang Ngai province in general. Specifically, BSR's development journey has produced and supplied the market with over 99.6 million tons of various products, with total revenue exceeding 1.73 trillion VND and contributing more than 237 trillion VND to the state budget.

A corner of Quang Ngai City 50 years after the province’s liberation (24/3/1975 – 24/3/2025)

In 2023, BSR set a record by contributing 16.6 trillion VND to the Quang Ngai provincial budget, accounting for over 55% of the province's total budget (30,667 billion VND). Most recently, in 2024, Quang Ngai was ranked 18th out of 63 provinces and cities and 5th out of 14 provinces in the Central region in terms of total domestic budget revenue. Alongside many achievements in contributing to the state budget, Quang Ngai has also "grown" with a series of developments in infrastructure, urban areas, and transportation networks. In the past year, numerous proposals to resolve bottlenecks for the province's development have been implemented by the province's leadership.

On Quang Ngai Province’s development journey, BSR has strived to contribute to the provincial budget. At the same time, the company has also taken the lead in social welfare activities nationwide

The Dung Quat Refinery is located in the Dung Quat Economic Zone. Over many years of operation, it has not only contributed to the economy but also played a direct role in attracting investment to Quang Ngai province. Looking back at the period from 1996 to 2004, statistics show that the investment capital in the province was only about 3.7 trillion VND. This amount increased to approximately 24.5 trillion VND from 2005 to 2008, the highest compared to five provinces in the Central region. Overall, investment attraction in Quang Ngai province saw significant growth, especially during the construction of the Dung Quat Refinery. Notably, in 2018-2019, the investment capital in Quang Ngai reached about 43 trillion VND, accounting for one-fourth of the investment capital in the Central region. Additionally, the Dung Quat Refinery also contributed to attracting foreign direct investment (FDI) to the Dung Quat Economic Zone. In 2008, the province had four FDI projects with a registered capital of over 3 billion USD.

Accompanying Quang Ngai Province on its development journey, BSR will continue to contribute, becoming an essential piece of its home province’s growth

Sharing about BSR's contributions to the socio-economic development of Quang Ngai province, Comrade Bui Thi Quynh Van - Member of the Party Central Committee, Secretary of the Provincial Party Committee, and Chairwoman of the Quang Ngai Provincial People's Council noted: “In over 15 years of operation, BSR has made significant contributions to the socio-economic development of Quang Ngai province. It has helped improve the economic structure and industrial development of Quang Ngai, making it one of the relatively developed provinces in the Central region. With such a developed industrial structure, Quang Ngai province is determined to continue creating favorable conditions for the Dung Quat Refinery to expand and upgrade, to fulfill its mission effectively and enhance its impact in the future”.

BSR's development journey is also closely linked to its social initiatives. BSR regularly carries out many practical and meaningful social welfare activities. Since it started operations, BSR has implemented a national social welfare program with a total funding of over 870 billion VND. Specifically for Quang Ngai province, BSR has completed hundreds of social welfare projects, such as nurturing Vietnamese Heroic Mothers and planting trees, contributing more than 330 billion VND to these efforts.

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