Thai group pours more money into Vietnam oil refinery

Thai Siam Cement Group (SCG) has become a big investor in Vietnam’s oil refinery after acquiring 25% equity stake in Long Son Petrochemicals Company from Qatar Petroleum.
  • Vietnam expects more investment from Swiss businesses
  • Businesses advised not to view digital media as panacea
  • Instagram says advertising base tops one million businesses
  • Business expo to boost ASEAN-Africa trade

Earlier, Vina SCG Chemicals (VSCG), a subsidiary of SCG in Vietnam, signed a purchase agreement with QPI Vietnam Limited (QPIV), a subsidiary of Qatar Petroleum, to own QPIV’s 25% equity stake in Long Son Petrochemicals Company, the owner of Long Son Petrochemical Complex.

The US$36.1 million transaction will increase SCG’s holding in Long Son Petrochemicals Company from 46% to 71% while the remaining shares of 29% are owned by state-owned energy firm Vietnam Oil and Gas Group (PetroVietnam).

The first petrochemical complex in Vietnam built at a cost of US$5.4 billion has a capacity of 1.6 million tons of olefin per year. It is equipped with state-of-art technologies and modern equipment to meet environmental protection requirements and to produce high-quality PP and PE plastic products.

It will generate around 15,000-20,000 jobs during the construction process and more than 1,000 jobs after it is put into commercial operation. It will also contribute around US$115 million to the State budget annually within 30 years since it begins operation in 2021.

VOV

Other News

A view of a container port in Singapore. (File photo: Xinhua/VNA)

Vietnam-Singapore trade cooperation gains fresh momentum

Analysts noted that Vietnam-Singapore ties are increasingly moving beyond traditional goods trade towards green growth, innovation and high-quality supply chains, laying a stronger foundation for more substantive and sustainable cooperation in the years ahead.

Vietnamese products make strong impression at Foodservice Australia 2026

Vietnamese products make strong impression at Foodservice Australia 2026

International visitors expressed positive impressions of Vietnamese products displayed at the fair. Nelma Sanjines, senior supervisor at ESP Catering in Sydney, praised the flavour of Vietnamese chilli sauce and soy sauce as well as the attractive packaging of confectionery products.

Digital technology helps standardise supply chains, sustain export competitiveness

Digital technology helps standardise supply chains, sustain export competitiveness

Experts noted that supply chain optimisation and risk management are no longer isolated tasks for individual companies but a requirement for the entire export ecosystem. With guidance from regulators, support from industry experts and their own efforts, Vietnamese exporters are expected to enhance their competitiveness and turn technical barriers and market volatility into opportunities for sustainable growth in global markets.

Vietnam seen as attractive investment destination for 2026–2035

Vietnam seen as attractive investment destination for 2026–2035

The article described Vietnam as strategically positioned along major regional maritime routes, including the East – West corridor linking the Americas, the Middle East, India and Europe, and the North – South corridor connecting China and Southeast Asia, helping make the country a gateway for international trade.

Eco-industrial parks seen as catalyst for higher-quality FDI

Eco-industrial parks seen as catalyst for higher-quality FDI

The eco-industrial park model will help Vietnam meet international environmental standards while creating opportunities to improve growth quality and economic competitiveness. Many multinational corporations now view green standards, emissions reduction and energy efficiency as key conditions when selecting investment destinations.

Promoting Vietnamese Brands at an International Food Fair in Gwangju

Promoting Vietnamese Brands at an International Food Fair in Gwangju

Alongside exhibition activities, trade promotion, and business networking programs, the “Gwangju Global Food Fair 2026” also witnessed the signing ceremony of a Memorandum of Understanding (MOU) between the Vietnam–Korea Businessmen & Investment Association (VKBIA) and the Gwangju Tourism Organization of South Korea.

Hanoi proposes subsidies to accelerate shift to electric vehicles

Hanoi proposes subsidies to accelerate shift to electric vehicles

Under a draft resolution currently open for public feedback by the municipal People’s Committee, residents with permanent or temporary residence registration in Hanoi for at least two consecutive years, who own petrol-powered motorbikes registered before the resolution takes effect, will be eligible for support when purchasing electric motorbikes priced at 10 million VND or more.

Private economic sector poised for breakthrough growth

Private economic sector poised for breakthrough growth

More than a year after the Politburo's Resolution No. 68-NQ/TW on private sector development came into effect, expectations now extend beyond increasing the number of enterprises. The goal is to build a stronger business community with greater resilience, larger ambitions and the capacity to compete in global supply chains.

Vietnam remains ASEAN growth leader in 2026 despite global headwinds: WB

Vietnam remains ASEAN growth leader in 2026 despite global headwinds: WB

Vietnam is expected to remain one of ASEAN’s fastest-growing economies in 2026, supported by resilient exports, strong investment inflows and an ambitious reform agenda, despite mounting global uncertainties, according to the World Bank’s latest Vietnam Economic Update released on May 15.

Ministry establishes monitoring framework for carbon market

Ministry establishes monitoring framework for carbon market

Under a new circular, the exchange of greenhouse gas emission quotas and carbon credits is conducted on the domestic carbon credit exchange through the carbon trading system, which is interconnected with the national registration system.