Adani Group to invest $10 billion in Vietnam

New Delhi: The Adani Group plans a long-term investment in Vietnam of up to $10 billion, according to a report in Vietnam’s Tuoi Tre News.

Group Chairman Gautam Adani revealed the investment plan during a meeting with Vietnamese Party General Secretary To Lam in Hanoi, as part of his business trip to Vietnam last week, the report said, citing the country’s Ministry of Foreign Affairs.

He expressed admiration for Vietnam’s vision and national development strategy and congratulated the country on its impressive socio-economic progress in recent years.

Gautam Adani emphasised that the group possesses extensive experience in investing in and operating major projects across sectors, such as seaports, airports, transport, logistics, energy, and digital technology in India and internationally, including Mundra Port — India’s largest seaport. He also highlighted that Adani is India’s largest energy provider.

The Chairman of Adani Group briefed General Secretary To Lam on the company’s ongoing activities and long-term plans for Vietnam, confirming a strategic investment commitment of up to $10 billion, aligned with both the group’s strengths and Vietnam’s developmental priorities, the report states.

The report refers to the Adani Group as a global leader in energy and logistics.

With the company’s global experience and capacity, Gautam Adani stated his readiness to invest in areas prioritised by Vietnam, including strategic infrastructure, energy, renewable energy, and emerging technologies such as artificial intelligence.

He expressed hope for continued support from the Party and the state of Vietnam to ensure favourable conditions for Adani Group’s operations in the country.

In response, General Secretary To Lam congratulated Adani Group on its significant achievements and contributions to India’s economic growth over recent years.

He praised the company’s long-term investment approach in Vietnam as a means to deepen economic cooperation between the two nations.

The Party leader encouraged the Adani Group to engage directly with relevant ministries and local authorities to clarify partnership priorities, thereby accelerating the rollout of proposed projects, the report said.

He noted that Vietnam is actively pursuing strategic breakthroughs, prioritising development in science and technology, fostering innovation and digital transformation, and expanding the private sector economy.

The country is committed to providing all possible favourable conditions for both domestic firms and foreign-invested enterprises to pursue investment and business projects that contribute to national growth.

Expressing satisfaction with the robust development of the Vietnam-India comprehensive strategic partnership — established in 2016 — he urged businesses from both countries, including the Adani Group, to deepen economic, trade and investment cooperation in order to fully harness their shared potential, the Tuoi Tre News report added.

–IANS