India's Adani eyes numerous investment projects in Vietnam

During Prime Minister Pham Minh Chinh's state visit to India from July 30 to August 1, the PM met with Gautam Adani, Chairman of Adani Group, on July 31.

At the meeting, Adani proposed investing $2 billion in Lien Chieu Port in Danang to complete the logistics ecosystem for Danang and the central region. Additionally, Adani plans to invest $2.8 billion in Vinh Tan 3 Thermal Power Plant in Binh Thuan province. The group also expressed interest in participating in the construction of the second phase of Long Thanh International Airport in Dong Nai province and Chu Lai Airport in Quang Nam province.

Prime Minister Chinh assigned Minister of Planning and Investment Nguyen Chi Dung and relevant agencies and localities to discuss the projects with Adani Group, addressing related issues and reaching a consensus on implementation and investment procedures in line with regulations.

At a follow-up meeting, Minister Dung addressed questions and concerns raised by Adani regarding investments in Vietnam. He urged relevant stakeholders to expedite the investment procedures for the Lien Chieu Port project and other initiatives.

For the Lien Chieu Port project, the Vietnamese side advocates selecting a general infrastructure investor, allowing foreign enterprises to cooperate with domestic companies in exploiting the port project. Therefore, Adani and its joint venture with Vietnam's Anh Phat Investment Construction & Trading JSC need to complete the necessary procedures in accordance with Vietnamese law.

Minister Dung asserted that the Ministry of Planning and Investment (MPI) would coordinate with competent authorities to study, support, and remove obstacles for the investor.

A representative of Adani Group stated that the company would expedite the investment procedures and closely coordinate with the MPI and other Vietnamese authorities to implement the projects soon. The group also plans to engage in additional projects in Vietnam, leveraging its financial and technical capabilities.

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