Adani Group considering investing $3 billion in Vietnam

The Vietnamese government said in a statement on Wednesday that Adani Group is exploring investment opportunities of up to $3 billion in seaport and renewable energy projects in Vietnam.

On the same day, Vietnamese Prime Minister Pham Minh Chinh met with Karan Adani, chief executive officer of Adani Ports and Special Economic Zone, a unit of the cooking oil-to-coal mining conglomerate Adani Group.

According to a statement, Chinh told Karan in a meeting that Vietnam will create more favourable conditions for large Indian companies, including Adani Group, for investment and business purposes.

Chinh also expressed Vietnam’s gratitude and enthusiasm towards Adani’s investment, which will commence with the development of Lien Chieu Port in Danang, a city in the heart of Vietnam. 

Karan informed Chinh that Adani plans to collaborate with Vietnamese partners and stakeholders to initiate targeted investment ventures in the country. He further mentioned that the potential investment will reach a substantial amount of $10 billion in the future.

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