Thailand and Vietnam embrace beneficial trade

Thai investments are expected to continue growing up and down Vietnam thanks to the country’s improved business climate, leveraged by both nations’ comprehensive strategic partnership to drive trade and investment ties.

- Thanh Thu

Thammasak Sethaudom, president and CEO of SCG and Kulachul Thanakasemsab, vice president of SCG Vietnam, will on May 28 have an opportunity to attend the Vietnam-Thailand Business Forum in Bangkok

Thammasak Sethaudom, president and CEO of SCG and Kulachet Dharachandra, country director of SCG, Vietnam, will on May 28 have an opportunity to attend the Vietnam-Thailand Business Forum in Bangkok.

Taking place when Vietnam’s Party General Secretary and State President To Lam will pay an official visit during May 27-29, this event is expected to host hundreds of leaders and representatives from enterprises of the two countries. They will exchange ideas, plans, and may ink some deals worth hundreds of millions of US dollars.

This follows top leaders of the two countries’ commitment last year to provide the best conditions for investors and enterprises from both countries to invest in their respective markets.

Dharachandra told VIR, “Vietnam has remained a strategic investment destination for SCG for over three decades. Beyond investment scale, SCG focuses on technology transfer, green governance, and collaboration with local partners to enhance industrial capacity, striving together towards the net-zero goal.”

Last year, SCG contributed over $31.5 million in tax payments in Vietnam, reflecting its long-term commitment to supporting the country’s economic growth.

Currently, SCG is investing $500 million to upgrade Long Son Petrochemicals through ethane feedstock integration, enhancing operational flexibility, strengthening long-term competitiveness, and supporting lower-carbon manufacturing.

Long Son is Vietnam’s first fully integrated petrochemical complex, located in the former province of Ba Ria-Vung Tau, now part of Ho Chi Minh City. Backed by a $5.4 billion investment from SCG, the 464-hectare complex produces essential plastic resins.