Ba Ria – Vung Tau (VNA) – Prime Minister Pham Minh Chinh on December 2 hosted a reception for Thammasak Sethaudom, President and CEO of Thailand’s SCG Group – the investor of Long Son petrochemical complex project worth about 5 billion USD in the southern province of Ba Ria - Vung Tau.
Sethaudom provided an update on the Long Son project and outlined plans for investment expansion, and resented specific recommendations, including strategies to attract leading global technology partners to join the investment efforts. He also thanked the Vietnamese Government, ministries, and Ba Ria - Vung Tau province for their support in resolving challenges and obstacles.
Chinh praised efforts, determination, and results of SCG in implementing its investment and business activities in Vietnam, urging the firm to continue building on its business achievements and expand cooperation and investment in the country, aiming for higher outcomes in the future.
The Vietnamese Government is interested in the Long Son petrochemical complex project, he stressed, noting that upon receiving the information, he instructed Deputy PM Tran Hong Ha to immediately hold a meeting with the provincial authorities and direct relevant agencies to promptly address SCG's requests, towards restructuring the project effectively.
For the proposal related to procedures to attract leading global technology partners to join the project, the PM assigned the Ministry of Planning and Investment to work with the provincial People's Committee and relevant agencies on studying and providing guidance on necessary procedures, ensuring compliance with regulations, and promptly reporting results to the Government.
He affirmed that the Government, ministries, and Ba Ria - Vung Tau province are committed to facilitating SCG's projects in Vietnam, with the principle of harmonising benefits and sharing risks.
SCG specialises in cement and construction materials, packaging, and petrochemical products. It is running 27 subsidiaries in Vietnam, with a total investment exceeding 7 billion USD.
The Long Son petrochemical complex, the first of its kind in Vietnam, was put in commercial operation on September 30. It turns out various petrochemical products, including essential plastic resins such as polyethylene (PE) and polypropylene (PP), to serve both domestic and international customers.
Plastic resins from the complex help reduce imported polyolefin products and enhance competitiveness for downstream businesses along the value chain. Also, they are building blocks for various industries including packaging, agriculture, electrical appliances, and automotive./.
