Ba Ria-Vung Tau (VNA) – Prime Minister Pham Minh Chinh engaged in a working session with leaders of major enterprises in Ba Ria-Vung Tau on March 20, as part of his working visit to the southern coastal province.
A representative from the over 5 billion USD Long Son Petrochemical Complex project, invested by Thailand’s SCG Group, stated that three months after their last meeting with the Government leader, most of the group's proposals have been actively addressed by the relevant Vietnamese authorities. Notably, the group has signed a contract with a US partner to supply raw materials for the project for 15 years, with a total value of over 4.5 billion USD.
However, the group has yet to receive the 11th investment certificate, which is affecting the project's progress and the contracts signed with partners, the representative said expressing a hope that the Prime Minister will instruct relevant ministries and sectors to reform administrative procedures, cut unnecessary steps, and shorten the process and time for issuing permits for the project.
Appreciating the group’s efforts and determination to overcome difficulties, PM Chinh affirmed that the investment certificate will be issued by the Vietnamese authorities within this month so as to create conditions for SCG to continue expanding cooperation and investment in Vietnam, bringing its total investment to nearly 6 billion USD.
Congratulating the group on its signing with the US partner for the supply of raw materials during Vietnamese Minister of Industry and Trade Nguyen Hong Dien's visit to the US, the Prime Minister recognised it as a result of the efforts from both sides, significantly contributing to balancing trade between Vietnam and the US. He tasked Deputy Prime Minister Ho Duc Phoc with continuing to direct the handling of the proposals and requests from the Thai group, ensuring favourable conditions for its projects to operate efficiently and develop sustainably in Vietnam.
The Government leader also suggested SCG report to the Thai Prime Minister on how Vietnam has effectively addressed its proposals in the spirit of “what has been said must be done, and commitments must be fulfilled with concrete results”. Meanwhile, Hyosung Vina Co., Ltd., a subsidiary of the Republic of Korea’s Hyosung Group, has invested a total of approximately 4.6 billion USD and plans to pour an additional 1.5 billion USD into the fields of biotechnology and carbon fiber in Vietnam. During the meeting with PM Chinh, a leader of the company stated that the company's Bio-BDO plant in Ba Ria-Vung Tau is one of the largest biotechnological plants in the world in this field.
Hyosung Vina proposed the Prime Minister direct relevant ministries, agencies, and localities to create more favourable conditions for the company to import genetically modified microorganisms for the production of Bio-BDO, and import raw sugar for the plant, and at the same time, offer more preferential policies on land leasing and tariffs.
Welcoming its plans to expand investment in Vietnam, Chinh urged Hyosung to always prioritise environmental protection, promote linkages with domestic businesses, and ensure social welfare for workers. He directed the Ministry of Finance and the local authorities to study preferential tax policies applicable to priority investment areas, such as high, green, and clean technology projects, as well as VAT refunds as per regulations.
The leader also encouraged Hyosung to explore using domestically produced materials to replace imports, which, he said, will reduce production costs, enhance competitiveness, and help Vietnamese businesses improve production capacity and participate in global supply chains.
Praising Hyosung for its commitment to invest in Vietnam for the next 100 years, Chinh reaffirmed the government's continued support for the company to build Vietnam as a hub for its investment, production, and business operations, contributing further to economic development and social responsibility in Vietnam.
At the working session, a leader of Ho Tram Project Company Ltd, a subsidiary of the Asian Coast Development (Canada) Ltd. (ACDL), shared that following the suggestion of the PM, the company has collaborated with Ba Ria-Vung Tau to develop a proposal for the construction of an expressway connecting Long Thanh International Airport in Dong Nai province to the Ho Tram Urban Area in Xuyen Moc district of Ba Ria-Vung Tau province. The 40km-long expressway is estimated to cost around 17 trillion VND (665.1 million USD). With this project, the company plans to invest an additional 1.8 billion USD into the Ho Tram area.
Welcoming the company, Ba Ria-Vung Tau, and other relevant local authorities for quickly turning the idea into reality, PM Chinh emphasised that the expressway is of significant importance, as it not only connects Ba Ria-Vung Tau, especially Ho Tram, to not only the largest airport of Vietnam, but also the southeastern, southwestern, and south central regions of Vietnam as well as the world.
Therefore, he urged the company to closely cooperate with Ba Ria-Vung Tau to accelerate the implementation of the project as quickly as possible, so as to soon open it to traffic.
In addition, the company should expand its investment to transform the Ho Tram area into a major international tourism, resort, exhibition, and conference hub, he added./.
