ASEAN KEY DESTINATIONS
Vietnam's first oil refinery scrutinized
The majority of the deputies agreed that the Dung Quat oil refinery plant had made a positive impact on the country's socioeconomic and political development as well as national security. It also marked a milestone in the development of the nation's oil and gas industry.
The deputies spent a lot of time on the lessons learned during the project's implementation, particularly the causes behind the nine-year delay in the plant's completion.
Nguyen Ngoc Dao, from Ha Noi, said: "The decision to invest in the Dung Quat Oil Refinery Plant has proved a scientific and technological success."
Dao said the National Assembly and the government had not properly taken into account the subjective and objective causes behind the low efficiency of the project, including the impact of climate change and the location of the oil refinery plant.
Nguyen Van Binh from the northern province of Bac Ninh wanted the National Assembly to conduct an assessment on the project's economic effectiveness.
Nguyen Ngoc Hoa, from Ho Chi Minh City, wanted to know when the US$3 billion invested in the project would be repaid.
Supporting Hoa, many deputies expressed their worry about the stockpiling of petrol in the plant's depots while many Vietnamese companies have to import it from abroad.
Tran Du Lich, from HCM, City said the project had set out two objectives at the beginning, namely - leverage for economic development for the central region and the development of the country's oil and gas industry.
"It is too early to talk about the economic efficiency of the project. So for the immediate future, we should focus on the socioeconomic effects," said Lich.
The Dung Quat oil refinery plant won National Assembly approval in 1997. Yet the construction phase started in 2005. After four years of construction, in February 2009, the first refinery oil was produced.
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