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Thailand’s SCG signs $3.2b loans to fund project in Vietnam

SCG has signed loan agreements to finance development of its Long Sơn Petrochemicals Company Limited in Bà Rịa – Vũng Tàu in Vietnam

Boris Sullivan

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SCG has signed loan agreements worth over US$3.2 billion with six banks in its home country, Thailand, to fund construction of Việt Nam’s first fully integrated petrochemical complex, Long Sơn Petrochemicals Company Limited (LSP).

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Construction will begin in the third quarter of this year and the complex’s commercial operations are expected to start in the first half of 2023 to meet Việt Nam’s soaring demand, now at 2.3 million tonnes a year and projected to expand consistently thanks to the country’s strong economic growth.

Roongrote Rangsiyopash, president and CEO of SCG, said: “Long Sơn Petrochemicals is a world-scale petrochemical complex with an investment of $5.4 billion. It is SCG’s flagship investment.

SCG signs $3.2b loans in Thailand

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Startups

Vietnam Loship secures investment from Skype co-founder

This capital injection marks Loship as the first portfolio company of MetaPlanet in Vietnam and Southeast Asia.

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Hanoi (VNS/VNA) – Loship, Vietnam’s fast-growing one-hour-delivery e-commerce startup, has announced its latest investment from Skype co-founder Jaan Tallinn.

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United States

US pledges to enhance cooperation with Mekong subregion’s countries

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The US will bolster support for countries in the Mekong subregion through the Mekong-US partnership, US Principal Deputy Assistant Secretary of State for the Bureau of East Asian and Pacific Affairs Atul Keshap said at a recent online seminar to reveal results of a report on transboundary rivers and addressing challenges in Mekong River.

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Vietnam

Vietnam Import-export value surpasses 74 billion USD since 2021’s beginning

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Vietnam’s import-export turnover posted a year-on-year rise of 31 percent to reach 74.51 billion USD from the beginning of 2021 to February 16.

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In the reviewed period, Vietnam enjoyed a trade surplus of 2.63 billion USD, according to the Vietnam Customs.

During the Tet (Lunar New Year) holiday 2021 from February 10-16, a total of 960 firms conducted import-export activities, up 363 against the Tet holiday 2020.

A total of 10,300 customs declaration forms were filled out, up 59 percent against the previous holiday.

Meanwhile, the import-export value hit 1.67 percent, a year-on-year increase of 53 percent.

Main exports included mobile phones and spare parts, computers, electronics and components./.


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