CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Investment / News
SCG commits to complete mega petrochemicals complex in Vietnam on schedule
Hai Yen 17:22, 2019/04/10
The plant, the first of its kind in Vietnam, targets to develop a 1-million-ton ethylene cracker with a flexible gas and naphtha feed, creating an olefin capacity of 1.6 million tons per year.
Thailand’s largest cement maker Siam Cement Group (SCG) is committed to completing the US$5.4-billion Long Son Petrochemicals complex on schedule, according to Dhep Vongvanich, SCG Vietnam’s executive director. 
 
Deputy Prime Minister Trinh Dinh Dung and Dhep Vongvanich, SCG Vietnam’s executive director. Source: VGP.
Deputy Prime Minister Trinh Dinh Dung (r) and Dhep Vongvanich, SCG Vietnam’s executive director (l). Source: VGP.
The project, located in the southern province of Ba Ria – Vung Tau, would fully comply with Vietnamese law and international standards on safety and environmental protection, Vongvanich said in response to the request of Vietnam’s Deputy Prime Minister Trinh Dinh Dung about accelerating the construction progress of the petrochemical complex project in a meeting on April 9. 

Vongvanich stated SCG expected to hold training courses for the locals to work at construction sites, factories and provide support services for the complex once it is completed by 2023 and could employ thousands of workers. 

He highly regarded SCG’s business performance in Vietnam in the fields of chemical, construction materials and packaging, contributing to the two nations' relations.

Dung requested SCG to increase investments in Vietnam and fulfil its social responsibilities in the project areas through creating jobs, developing the infrastructures and improving locals’ living standards. 

The Deputy PM stated the Vietnamese government encourages and create favorable conditions for foreign investors, including SCG to expand operations in Vietnam. 

SCG held the breaking ground ceremony for the Long Son Petrochemicals complex  last February with the presence of Vietnam’s Prime Minister Nguyen Xuan Phuc. 

The plant, the first of its kind in Vietnam, targets to develop a 1-million-ton ethylene cracker with a flexible gas and naphtha feed, creating an olefin capacity of 1.6 million tons per year.

At present, Dung Quat Refinery, the first-ever oil refinery in Vietnam, processes about 6.5 million tons of crude oil per year, meeting only 30% of the domestic demand for petroleum products, according to the Ministry of Industry and Trade. 

Thailand is currently Vietnam’s ninth largest investors among 129 countries and territories pouring money into Vietnam with 521 projects worth US$10.38 billion, mainly in manufacturing and processing and real estate. 

Additionally, Thailand claimed the top spot as Vietnam’s largest trading partner in ASEAN, posting bilateral trade turnover of US$18 billion. 
Comments
Other news
18:03, 2025/02/22
Vietnam attracts South Korean tech investment at SEMICON Korea 2025
The event provided a platform for Vietnam to showcase its semiconductor potential and reaffirm its commitment to developing high-tech industries and strengthening international cooperation.
16:46, 2025/02/20
Swedish group plans US$1 billion investment in Binh Dinh recycling plant
By creating a large number of jobs and promoting a green economy, the initiative is important in establishing Vietnam as a global hub for the circular textile sector.
10:52, 2025/02/13
Samsung plans to invest in AI, semiconductors in Vietnam
Vietnam will continue improving its investment environment and driving strategic breakthroughs in order to usher in a new era of economic development.
17:20, 2025/02/07
Vietnam's data center construction costs among the lowest in Asia Pacific
The country has a lot of potential to become one of the most important data markets in the region.
21:05, 2025/02/03
Bright prospects for FDI inflows into Vietnam in 2025
Market size, growth potential, low labor costs, and stable political and social conditions continue to be Vietnam’s selling points in attracting foreign investors.
10:57, 2025/01/30
Foreign companies confirm investment expansion in Vietnam in 2025
Some foreign firms are optimistic about Vietnam's economic prospects in 2025 and plan to expand investment, focusing on sustainability across sectors.