BSR accompanies the development journey of Quang Ngai province

After 50 years of liberation, Quang Ngai province has gained many outstanding achievements thanks to industrialization. In that journey, Binh Son Refining and Petrochemical Joint Stock Company (BSR) is proud to be one of the leading units in contributing to the development of Quang Ngai province.

On March 24, 1975, Quang Ngai province was liberated, opening a new chapter for the land of An Mountain - Tra River. After liberation, Quang Ngai province continued its development journey with mainly agricultural activities, similar to other regions of Vietnam.

Dung Quất Oil Refinery

After Nghia Binh province was split into Quang Ngai and Binh Dinh in 1989, the industrial production value of Quang Ngai province reached about 601 billion VND.

With geographical and resource advantages, Quang Ngai province has many advantages in developing heavy industries.

In the 1990s, agriculture, forestry and fishery accounted for 55.7 per cent; industry and construction 16.5 per cent and services 27.8 per cent.

By 2019, the economy had a strong shift towards increasing the proportion of industry - services, increasing the proportion of industry - construction to 51.9 per cent, services to 29.8 per cent and agriculture, forestry and fishery to 18.3 per cent.

By 2024, the industrial value of Quang Ngai province had increased to more than 157,000 billion VND (more than 260 times higher than in 1989).

Experts study the establishment of Vietnam's first Oil Rrffinery in Dung Quat

In particular, the scale and structure of the economy of Quang Ngai province have also changed significantly since Dung Quat Oil Refinery released its first product line in 2009.

In 2007, Quang Ngai province's budget revenue reached about 1,312 billion VND. By 2010 (one year after Dung Quat Oil Refinery launched its first commercial product line), the province's budget revenue reached 15,553 billion VND (increased 11 times), with BSR alone contributing 14,382 billion VND (accounting for 92.5 per cent of the province's total budget revenue).

In 2005, Binh Son district developed many infrastructures, transportation networks, and seaports, especially during the construction period of Dung Quat Oil Refinery.

In order to establish the first Oil Refinery in Vietnam, the transport network system also needed to be improved to serve the transportation of oversized and overweight equipment.

The seaport system serving the export of Oil Refinery's waterway products has also been invested in, expanded and developed, contributing to effectively exploiting the advantages of Dung Quat deep-water port.

Prime Minister Vo Van Kiet and experts on a survey trip for the construction of Dung Quat Oil Refinery

Quang Ngai province has set many development goals with key projects. Especially, two major projects of the National Oil Refinery and Energy Center Project in Dung Quat Economic Zone (EZ) and the Project to Develop Ly Son Island District into a Sea-Island Tourism Center are being studied.

In 2008, BSR was established to receive, manage and operate Dung Quat Oil Refinery. BSR's development journey is also closely linked to the growth of the province.

Dung Quat Oil Refinery is located in Binh Tri and Binh Thuan communes, Binh Son district, Quang Ngai province. Over the past 16 years, BSR has developed together with the growth of Quang Ngai province, making great contributions to the development of Quang Ngai province in particular and the Vietnamese petrochemical industry in general.

During BSR's development journey, it has produced and supplied to the market over 99.6 million tons of various products, with total revenue of over VND 1.73 trillion and the state budget of over VND 237 trillion.

Quang Ngai City after 50 years of Liberation Day (March 24, 1975 - 2025)

In 2023, BSR set a record by contributing 16.6 trillion VND to the Quang Ngai provincial budget, accounting for more than 55 per cent of the provincial budget (30,667 billion VND).

In 2024, Quang Ngai province 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.

Located in Dung Quat EZ, Dung Quat Oil Refinery has not only contributed to the economy but also to attracting investment into Quang Ngai province with the investment capital in the province in the period 1996-2004 of about 3.7 trillion VND and 24.5 trillion VND in 2005-2008.

The investment attraction in Quang Ngai province has seen strong growth, especially during the period of building Dung Quat Oil Refinery. Dung Quat Oil Refinery has contributed to attracting foreign direct investment (FDI) in Dung Quat Economic Zone. In 2008, the province had four FDI projects with a registered capital of more than 3 billion USD.

BSR will continue to develop and become an important "piece" of Quang Ngai province

BSR also regularly implements many practical and meaningful social security activities with a total budget of over VND 870 billion. In Quang Ngai province, BSR has implemented hundreds of social security projects and items, nurturing heroic Vietnamese mothers, planting trees... with a total budget of over VND330 billion.

Minh Thien