SCG is developing a firmer foothold in Vietnam with the recent resumption of its Long Son Petrochemicals complex, first licensed in 2008. The SCG-backed Long Son Petrochemicals Complex marks a new era in the Thai firm’s local co-operation The group has recently signed a memorandum of understanding (MoU) with Vietnam National Oil and Gas Group (PetroVietnam) to push forward a $5.4 billion project - Long Son Petrochemicals (LSP) in the southern province of Ba Ria-Vung Tau. Positioned as Vietnam’s first petrochemical complex, LSP will accommodate a flexible feedstock with olefin production capacity of 1.6 million tonnes per year. The complex is equipped with proven processes from leading international licensors, while its business operations strictly follow international safety standards … [Read more...] about In its 25th year of local investment, SCG goes in big
Southeast Asia
Real estate remains 2nd largest FDI lurer
Despite having fallen to the fourth position in terms of foreign direct investment in the first eight months of 2017, the real estate sector remains the second-biggest recipient of this type of investment to date. Though realty is fourth in FDI for eight months, it remains the second-largest earner overall Photo: Le Toan According to the Ministry of Planning and Investment’s Foreign Investment Agency, between January and August 20, the real estate sector stood in fourth with regards to foreign direct investment (FDI) inflows – with 46 newly-registered projects and 15 others increasing their capital, totalling more than $1.16 billion. Real estate FDI is behind the sectors of manufacturing and processing ($11.69 billion), power processing and distribution ($5.36 billion), and mining ($1.28 … [Read more...] about Real estate remains 2nd largest FDI lurer
Australia underlines Vietnam’s considerable strides
Australian Minister for International Development and the Pacific Concetta Fierravanti-Wells addressing the event. Photo: Vietnam+ The Doi moi has turned it into an emerging country in Southeast Asia, she affirmed at the celebrations held by the Vietnamese Embassy on September 1. She also emphasized the countries’ tightened links in economy, security and trade. Bilateral trade reached 10.5 billion AUD (about 8.3 billion USD) in 2016. She noted they also share similar viewpoints on many important regional issues, and both agree on ASEAN’s central role in promoting security and prosperity in the region. They also vowed to enhance regional economic integration. Additionally, bilateral relations are thriving in many other spheres such as dialogue on human rights, people-to-people exchange, and education and tourism cooperation. The minister stressed Vietnam’s prosperity benefits both Australia … [Read more...] about Australia underlines Vietnam’s considerable strides
Vingroup to manufacture “Made in Vietnam” automobiles
Vingroup today organised the ground-breaking ceremony of its electric automobile and motorbike manufacturing complex named Vinfast, representing a total investment capital of VND35 trillion ($1.5 billion), marking the group’s first step to becoming Southeast Asia’s “Made in Vietnam” automobile brand, according to newswire Zing. Vingroup's Vinfast vehicle brand aims to become Vietnam's very own brand on the international market RELATED CONTENTS: First Vietnamese private firm to join Hanoi metro projects Vingroup approves mixed targets for 2017 Two Vietnamese in Forbes’ billionaires list Quang Ninh becomes new center of … [Read more...] about Vingroup to manufacture “Made in Vietnam” automobiles
Work starts on first Vietnamese automobile manufacturing complex
At the ceremony. Photo: qdnd.vn Invested by Vinfast manufacturing and trade Ltd company - an affiliate of real estate developer Vingroup, the complex is expected to roll out a five-seater sedan model, a seven-seater sport utility vehicle model, and electric motorbike meeting European standards during the first stage. The designed capacity is estimated at 100,000 - 200,000 vehicles per year. Its first product in the next 12 month will be electric motorbike model while automobiles will be made in the next 24 months. The complex will cover a site of 335ha with five major workshops. Design of engines and major components will be bought from top European and US designers while exterior shape will be designed by famous Italian studios that were behind luxury cars such as Alfa Romeo, Aston Martin, Audi, Bentley, Jaguar, Porsche, Rolls-Royce, among others. Vinfast will use advanced and eco-friendly technologies, … [Read more...] about Work starts on first Vietnamese automobile manufacturing complex