India's Adani Group eyes up to $10B investment in Vietnam

During a Wednesday meeting in Hanoi, Adani briefed Vietnam's Party General Secretary To Lam on the group's activities and long-term vision in Vietnam and affirmed its commitment to the strategic investments in areas where it has strengths.

The tycoon expressed his admiration for Vietnam's vision and national development strategy. He congratulated Vietnam on its impressive socio-economic achievements, which have elevated the country into one of the region's most dynamic economies and an attractive destination for global investors.

Highlighting the group's extensive experience in strategic sectors such as ports, airports, transport, logistics, energy and digital technology, Adani noted that his firm operates numerous large-scale projects in India and around the world, including India's largest seaport – Mundra Port. It is also currently the largest energy provider in the country, he noted.

The group aims to contribute to Vietnam's development, especially in infrastructure, energy, renewable energy, and emerging technologies like artificial intelligence, and hopes to continue receiving support from the government.

Indian billionaire Gautam Adani speaks during an interview in the western Indian city of Ahmedabad, Sept. 24, 2012. Photo by Reuters

At the meeting, Lam expressed his satisfaction with the sound development of the Vietnam–India Comprehensive Strategic Partnership with high strategic trust.

He highlighted the two countries' shared development aspirations, as both aim to become modern developed nations by the centenary of their independence – 2045 for Vietnam and 2047 for India.

Hence, he called for strengthened cooperation across multiple sectors, particularly in trade, investment and economic ties, to match the potential of the bilateral relations.

The party leader underlined Vietnam's ongoing implementation of its strategic breakthroughs, with a focus on science and technology, innovation, digital transformation and development of the private sector.

He affirmed the country's commitment to creating the most favorable conditions for both domestic and foreign investors to develop their business and projects.

Lam congratulated Adani Group on its contributions to India's economic progress and welcomed its long-term investment strategy in Vietnam, which will serve to deepen economic ties and strengthen the connections between the two economies.

He took note of the group's proposals and encouraged it to work with relevant ministries, agencies and localities to clarify cooperation priorities and accelerate the deployment of its projects.