PM asks Thai investors to apply latest technologies in large-scale oil refining project in Vietnam

Prime Minister Pham Minh Chinh has asked Thailand’s Siam Cement Group (SCG) and Amata Vietnam to apply latest technologies in the 5-billion-USD oil refining and petrochemical project in Vietnam.
PM asks Thai investors to apply latest technologies in large-scale oil refining project in Vietnam ảnh 1Prime Minister Pham Minh Chinh (R) receives CEO of SCG Roongrote Rangsiyopash (Photo: VNA)
Hanoi (VNA) – Prime Minister Pham Minh Chinh has asked Thailand’s Siam Cement Group (SCG) and Amata Vietnam to apply latest technologies in the 5-billion-USD oil refining and petrochemical project in Vietnam.

Receiving SCG Chairman and CEO Roongrote Rangsiyopash and Amata Vietnam CEO Somhatai Panichewa in Hanoi on February 16, PM Chinh showed his delight at the growing strategic partnership between Vietnam and Thailand across all fields, especially economy, trade and investment.

Thailand has been among the top 10 trade and investment partners of Vietnam for many years, he noted.

The Government leader thanked the Thai side as well as SCG and Amata for cooperating with and supporting Vietnam in COVID-19 prevention and control.

He said that in 2021, when Vietnam did not have enough COVID-19 vaccines and treatment drugs for local residents with limited understanding of SARS-CoV-2 variants, the country was forced to use large-scale restriction measures to prevent the spreading of the virus, affecting socio-economic activities.

However, the Vietnamese Government designed various measures to support and remove difficulties facing businesses and minimise negative impacts on production and business activities as well as supply chains, he noted.

PM Chinh said that Vietnam is confident to reopen with flexible and safe adaption to and effective control of the pandemic, heading to fast and sustainable recovery.

He lauded the SCG’s efforts to speed up the southern oil refining and petrochemical project in the Long Son industrial park of Ba Ria-Vung Tau province.

He suggested the SCG coordinate with Vietnamese ministries, sectors and localities to ensure that the project is put into operation as scheduled in a safe and effective manner, helping Vietnam reduce the import of petroleum products, ensure supply to local industries, and become one of the exporters of petrochemical products.

The SCG should use the most advanced, green and clean technologies for the project, while assisting Vietnam in improving its governance capacity and attracting green financial resources, he said.

At the same time, he suggested the SCG and Amata invest in the Long Son oil and gas industrial park and Long Son Power Centre, while continuing expanding business activities in Vietnam in more sectors, and considering investment in high-tech parks in Vietnam, contributing to encouraging more foreign investors, including those from Thailand, to Vietnam.

Roongrote Rangsiyopash and Somhatai Panichewa spoke highly of the effective directions and management of the Vietnamese Government, which they said help balance the goals of ensuring people’s health and promoting economic development.

Thanks to efficient support from the Vietnamese side, SCG has promptly overcome difficulties due to the pandemic and continued to develop its projects in the country, said the SCG leader.

Leaders of the two Thai firms briefed the Vietnamese PM on the progress of the southern oil refining and petrochemical project, which is the largest of its kind that the SCG has invested. Its second phase will be implemented with most advanced technologies following the direction of circular economy, they said, giving a number of proposals on the implementation of projects in Vietnam.

Noting down their proposals, PM Chinh pledged that Vietnam will continue to accompany and create optimal conditions for investors in general as well as SCG and Amata in particular to successfully and effectively operate their business in Vietnam./.
VNA

See more

Representatives of Ho Chi Minh City's tax agency address concerns and clarify tax-related issues raised by the FDI business community. (Photo: VNA)

Ho Chi Minh City moves to ease tax hurdles for FDI firms

The Ho Chi Minh City tax agency said it will maintain regular dialogue with businesses, push ahead with administrative reform and digital transformation, and identify implementation bottlenecks to recommend policy adjustments, facilitating investment and business activities for FDI enterprises.

A workshop on the Halal market is held in Ho Chi Minh City on June 16, 2026. (Photo: VNA)

Growing Halal market offers opportunities for Vietnamese businesses

The Halal market is becoming a promising avenue for businesses in Ho Chi Minh City. With its well-developed manufacturing, trade and service ecosystem and dynamic business community, the city is well positioned to strengthen its role in regional and global Halal supply chains.

Wistron Infocomm Vietnam Co., Ltd, an FDI enterprise, has invested in Dong Van III Industrial Park of Ninh Binh province since 2021, creating jobs for more than 12,800 workers. (Photo: VNA)

Vietnam seeks to position itself as leading destination for foreign investment

A significant shift in the recently issued Resolution 10 is the move from a strategy of attracting “more capital” towards attracting “higher-quality FDI”. The objective is no longer limited to investment volume but extends to absorbing advanced technologies, increasing domestic value creation, strengthening innovation capacity and accelerating modernisation in the economy.

Enterprises must disclose to investors the issuance plan, legal and investment risks and the rights and obligations of issuers and bondholders. (Photo: VNA)

Vietnam tightens rules on corporate bond issuance

Under Decree No 200/2026/ND-CP, enterprises issuing bonds will continue to operate under the principle of self-borrowing, self-repayment and self-responsibility, meaning issuers are fully accountable for the efficiency of capital use, debt repayment capacity and any disputes arising from bond issuance, use of funds, and payment of principal and interest.

A performance on The Huc bridge of the temple as part of a nighttime tourism programme to discover the Ngoc Son temple on Hoan Kiem Lake, downtown Hanoi. (Photo: VNA)

Hanoi adopts framework to boost night-time economy development

The resolution encourages a wide range of cultural, artistic and tourism activities, including performances, exhibitions, film screenings, presentations of traditional and intangible cultural heritage, and other programmes held in public spaces, pedestrian streets, heritage sites, theatres, cinemas and cultural venues.

A cargo port in Thiruvananthapuram city, India (Photo: ANI/VNA)

Ample room remains for Vietnam–India logistics cooperation

The GTTCI expert noted that alongside logistics and integrated warehousing, e-commerce is expected to be a particularly high-growth sector in the coming years. He described it as a multi-billion-dollar market with significant untapped opportunities for cooperation between Vietnam and India.

The meeting between Minister of Finance Ngo Van Tuan and Ambassador Julien Guerrier, head of the EU Delegation to Vietnam, on June 15. (Photo: thoibaotaichinhvietnam.vn)

Vietnam, EU enhance cooperation in green finance

Minister of Finance Ngo Van Tuan called on the EU to help facilitate Vietnamese firms' access to green finance, expand technical and financial assistance for green transition, and enhance cooperation in strategic technologies, innovation, digital finance and high-tech human resources development.

An overview of the working session between Deputy Finance Minister Tran Quoc Phuong and Kim Dongil, Director of ADB representing the Republic of Korea, Papua New Guinea, Sri Lanka, Taipei (China), Uzbekistan, Vanuatu and Vietnam. (Photo: Ministry of Finance)

Vietnam, ADB to advance strategic projects with strong economic impact

ADB has identified a pipeline of 27 projects for Vietnam through 2029, with total planned financing of approximately 4.6 billion USD. The projects focus on sectors that are among Vietnam’s priorities, including infrastructure, energy, urban development, agriculture and public sector management.

Illustrative photo (Photo: VNA)

Exports gain momentum from high-tech growth drivers

According to the Ministry of Industry and Trade, Vietnam’s exports reached 215.66 billion USD in the first five months of 2026, up 19.5% year-on-year. Twenty-six export items generated more than 1 billion USD in revenue each, including seven with turnover exceeding 10 billion USD.