Vietnam PM Receives Gautam Adani, Says Welcome Investments In Strategic Areas

Vietnam's Prime Minister Pham Minh Chinh received Adani Group chairman Gautam Adani on Friday as the major infrastructure conglomerate of India is exploring an investment of around $10 billion in Vietnam over the next decade.

PM Pham Minh Chinh said Vietnam always welcomes and is ready to host large Indian groups, including the Adani Group, to invest in strategic areas as infrastructure and renewable energy.

Praising Vietnam's investment climate, Mr Adani introduced the conglomerate's cooperation strategy in the Southeast Asian country with a total investment of up to $10 billion over the next 10 years in seaports, logistics, infrastructure, and renewable energy. A highlight is the Lien Chieu port project in the central coastal city of Da Nang.

Saying that these sectors align with the country's development strategy, PM Pham Minh Chinh suggested the conglomerate bring advanced, new, and clean technologies as well as modern management to Vietnam.

In the near future, PM Pham Minh Chinh asked Mr Adani to closely coordinate with Vietnamese ministries, sectors, and localities to effectively implement the Lien Chieu port project, and study investment in building the Chu Lai airport and specific renewable energy projects.

The Prime Minister affirmed that Vietnam supports and creates favourable conditions for Indian firms to deploy effective and sustainable investment and business activities in Vietnam, contributing positively to the development of the two countries' comprehensive strategic partnership.

With a market capitalisation of over $200 billion, the Adani Group owns 14 major seaports and seven airports in India.