Leading Thai group upbeat about business expansion in Vietnam
VOV.VN - Siam Cement Group (SCG), one of Thailand's top industrial companies, sees bright prospects for growth within Southeast Asia beyond its home market, particularly in Vietnam, CEO Roongrote Rangsiyopash has said.
Vietnam will be SCG’s top priority market, and maybe secondly would be Indonesia, Roongrote told Nikkei in an interview on April 5.
The company anticipates that its revenue from Southeast Asia excluding Thailand will rise to 35% of the total from the current 26%, once a Vietnamese petrochemicals plant is put into operation.
“We have several projects ongoing, some big ones like a chemicals complex in north Vietnam. That one, fortunately, has had no impact from the COVID-19 pandemic,” said the CEO.
SCG is the largest and oldest cement and building material company in Thailand and Southeast Asia. In 2016, SCG was also ranked as the second largest company in Thailand and the 604th largest public company in the world by Forbes.
During a meeting with CEO Roongrote in Hanoi last December, Prime Minister Nguyen Xuan Phuc, who was recently elected State President, appreciated the construction of the company’s petrochemical complex project in Ba Ria - Vung Tau, saying such a big project is of great significance to Vietnam’s socio-economic development.
He also valued SCG’s efficient operation in Vietnam and suggested the company continue to expand investment in Vietnam.