On the afternoon of March 20, Prime Minister Pham Minh Chinh received representatives of several large foreign direct investors in Vietnam, with total investment capital of up to tens of billions of USD. Ho Tram Company is one of them.
Prime Minister receives leaders of Long Son Petrochemical Company - Photo: VGP
The meetings took place during the Prime Minister's working program in Ba Ria - Vung Tau , including Hyosung Vina Company, Long Son Petrochemical Company, Ho Tram Company to continue to remove difficulties and obstacles and promote investment expansion in Vietnam.
Immediately remove procedures for investors to expand projects
Mr. Kulachet Dharachandra, General Director of Long Son Petrochemical Company Limited, thanked Vietnam for its active support and assistance, especially the Prime Minister's decisive and proactive direction to remove difficulties and obstacles, and promote project implementation.
The project, invested by SCG Group (Thailand), with a total investment of more than 5 billion USD, has been completed and put into operation. This is the largest FDI project in Ba Ria-Vung Tau province and the leading project in the country.
The General Director of Long Son Petrochemical Company proposed procedures, investment incentives, tax rates... to invest an additional 400 million USD to expand the project and possibly use imported ethane gas as raw material.
Appreciating the project's activities and affirming that Vietnam is always ready to proactively coordinate with businesses to resolve difficulties and problems, the Prime Minister said that next week, procedures related to expanding the project's investment will be completed.
He also informed that Vietnam has made efforts to resolve procedures, promoting the import of long-term, stable gas sources from the US worth billions of dollars, meeting the needs of the Long Son project. The tax proposal needs to be resolved in accordance with the situation and assigned Deputy Prime Minister Ho Duc Phoc to preside over the response to the proposal.
Prime Minister receives Mr. Bae In Han, General Director of Hyosung Dong Nai - Photo: VGP
Mr. Bae In Han, General Director of Hyosung Dong Nai, said that the group will continue to invest about 1.5 billion USD in Vietnam, including investing in a biotechnology factory and a carbon fiber factory.
With the commitment to "put the next 100 years in Vietnam", Mr. Bae In Han assessed that Vietnam has a stable and favorable investment environment for business development.
Therefore, he recommended establishing a one-stop mechanism to quickly resolve problems related to the legal framework; tax rates and tax refunds.
The Prime Minister welcomed the group to set up a production base in Vietnam, affirming that he had directed the Ministry of Finance to study and apply regulations to report and propose to competent authorities, as well as request the group to study and order the production of biological materials in Vietnam to serve the project.
Mr. Walt Power - General Director of Ho Tram Project Company Limited
Expansion investment projects will enjoy other policies.
At the same time, the Prime Minister received representatives of Ho Tram Project Company Limited, including Mr. Walt Power - General Director. This is a member of the strategic investment ecosystem of Warburg Pincus, the world's leading private equity fund headquartered in the US.
Representatives of Ho Tram Company have proposed and implemented investment in building a connecting route from Long Thanh International Airport to Ho Tram project with a total capital of 17,300 billion VND.
The Prime Minister welcomed and assessed that this road project has many meanings, both helping to expand Ho Tram's investment and increasing the value of the project. At the same time, it contributes to completing the transport infrastructure system, opening up new development space, increasing land value for the locality and the region.
Ho Tram has invested more than 1 billion USD in Vietnam, plus the capital for this route, Ho Tram's total investment capital can meet the conditions under current regulations to be considered for a number of other favorable policies.
The Prime Minister proposed implementing this transport project in the spirit of choosing the shortest, fastest route, with the most simplified procedures possible; at the same time, Ho Tram continues to expand investment, forming a large, prestigious tourist center in Ba Ria - Vung Tau.
At the same time, he suggested that businesses promptly notify the US government of the very positive results in resolving problems, promoting the Ho Tram project as well as US investment projects in Vietnam.
Source: https://tuoitre.vn/de-xuat-lam-tuyen-duong-ket-noi-tu-san-bay-long-thanh-den-du-an-ho-tram-20250320165303851.htm
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