Long Son Petrochemicals Co., Ltd. (LSP) The Name for Better Economic Growth and a Better Quality of Life

11:38:31 AM | 7/25/2022

The formation and strong development of petrochemical companies has strongly affected and facilitated the comprehensive social and economic development of Ba Ria - Vung Tau province. That strong development has made many petrochemical, oil and gas companies well-reputed names in the region and in the world, including Long Son Petrochemicals Co., Ltd. (LSP). To learn more about the core values behind the company's current standing, the “Ba Ria - Vung Tau business and investment environment” publication has an inclusive interview with Mr. Tharna Sanee - General Director of LSP. Cong Luan reports.

Could you briefly introduce development milestones and outstanding successes that LSP has achieved over the years?

Since we started the construction of our project in 2018, LSP has experienced many important historical milestones. Especially, during the COVID-19 outbreak, the company coordinated with local authorities to gradually adopt the “dual goals” of ensuring employees and workers health and ensuring business continuity, including COVID-19 vaccination. Fortunately, the company always received valuable assistance from provincial leaders, particularly monthly meetings with leaders of the province and relevant agencies/departments to discuss and find solutions to outstanding problems in order to support LSP to successfully start the plant on schedule.

For LSP, we are committed to conducting sustainable business and respecting Environmental, Social and Corporate Governance (ESG) principles while applying advanced technologies to achieve optimal production and safety without leaving social and environmental impacts.

So far, how has the Long Son Petrochemical Complex been urgently deployed?

As of May, to actively seize opportunities, the Long Son Petrochemicals Complex shifted from the construction phase to the trial for operation phase (or commissioning phase) with 95% progress achieved. Particularly, some units such as hydrocarbon jetty, tanks and utilities systems have started the trial for operation. However, the journey to project completion is still ongoing. So, LSP is speeding up some activities and urgently needs strong support from the province and relevant agencies, especially in licensing and permitting procedures.

In the current integration period, it is very necessary to support businesses to expand their operation scale and attract more investment flows, particularly important support mechanisms for LSP and other enthusiastic companies to expand their operation and investment scale. And of course, this requires close cooperation from local authorities through information, advice, guidance and/or solutions to existing difficulties faced by businesses. This will make them know what they should do to continue their project and achieve their better goals.

In addition to business efforts, how has LSP cared about social security, employees' livelihoods and a strong corporate culture?

As a subsidiary of SCG Chemicals or SCGC, a leading integrated petrochemicals company in ASEAN, LSP has adhered to SCGC's business approach to grow its sustainable business and respect Environmental, Social and Corporate Governance (ESG) principles. Today, LSP is proud to have applied advanced high technologies and best practices to make sure that both construction and operation are safe and environmentally friendly.

The view of the company is local employees, who make up the majority and make the future of the company as well, are the core. And, we believe in the worth of each and every one of them. Therefore, we always encourage our employees to be open-minded and accept challenges. Besides, in order to develop capability, LSP has also adopted many programs such as operator training system (OTS) and professional training classes supervised by Thai specialists, and online training classes lectured by international institutions. In addition to the goal of learning and growing with the community, we have organized many better life programs ranging from career development, healthcare, safety, environment and education. Typically, in the past time, LSP has carried out vocational training programs to improve the skills and create new jobs for the community in Long Son commune. LSP is working day by day towards the goal of keeping business growth on the one hand and creating a better life for the surrounding community and the environment on the other.

What makes you most satisfied with the current investment environment of Ba Ria - Vung Tau province?

Ba Ria - Vung Tau province is blessed with great advantages. Currently, the province has been preparing infrastructure to support the complex such as deep-water seaports, highways to southern key economic hubs such as Ho Chi Minh City, Dong Nai and Binh Duong. Most specially, the province has enough administrative agencies to provide timely support for foreign investors. Ba Ria - Vung Tau is considered a strategic location because it is located in a key economic area of Vietnam. It has rich potential for various types of business in oil and gas, tourism, seafood and other industries. The province's geography is also suitable for setting up a petrochemical complex because its land is linked to the deep sea, suitable for building terminals to import/export materials of the complex. In particular, Ba Ria - Vung Tau is also close to the plastic industries hub in southern Vietnam.

Those basic factors make LSP confidently outline important plans in the coming time to gradually expand the facility. Specifically, in addition to the Long Son Petrochemical Complex, which is set to start commercial operations in the first half of 2023, SCG, SCGC and LSP are currently studying for the two new projects: The LSP Phase 2 and LSP production capacity expansion project. The company will focus on manufacturing high value-added products such as green polymers that meet the ESG strategy to create sustainable, eco-friendly development. For LSP, we committed to conduct our business with a goal to be a trustworthy petrochemicals company with high technology and contribution in sustainable development and to to create a prosperity for Vietnam country as a whole. .

Thank you very much!

Source: Vietnam Business Forum