Southern petrochemical complex could curb imports, boost exports

At a meeting with Prime Minister Pham Minh Chinh on February 16 in Hanoi, leaders from the Siam Cement Group (SCG) and the Amata Corporation Public Company Limited (Amata) spoke about progress at the southern petrochemical complex project at the Long Son Industrial Park in southern Ba Ria-Vung Tau province, which has total investment of $5.16 billion, and expressed their hope of continuing their investment in the project’s second phase, using advanced technology for environmental sustainability, and also raised a number of proposals relating to the implementation of projects in Vietnam.

The Prime Minister suggested that SCG bring advanced, green, and clean technologies to the project, and at the same time support the Vietnamese side in improving its management capacity and green finance attraction.

He also proposed the quick implementation of a cooperation plan between SCG and Amata to invest in the Long Son Oil and Gas Industrial Park and the Long Son Power Center.

He expressed his appreciation of SCG’s efforts to promote the southern petrochemical complex project at the Long Son Industrial Park in the context of general difficulties stemming from the impact of the pandemic.

The Prime Minister also proposed that SCG coordinate closely with ministries, agencies, and localities in Vietnam so that the project can go into commercial operations as planned. The project is also expected to help Vietnam replace and gradually reduce the importation of petrochemicals, providing an important source of raw materials and fuel for domestic industries, and also creating opportunities to export petroleum products.

Leaders from SCG and Amata thanked the Vietnamese Government for its support and reported on the progress of the project.

The Prime Minister affirmed that the government will continue to accompany and create favorable conditions for investors in general and the SCG Group and Amata in particular, to successfully and effectively invest and do business in Vietnam.