Adani Ports Mulls $10 Billion Long-Term Investments In Vietnam
Adani Ports and Special Economic Zone Ltd. is mulling long-term investments worth around $10 billion in Vietnam, including $3 billion in ports and green energy in Vietnam, the country's government said on Wednesday.
Karan Adani, chief executive officer of Adani Ports, shared the plans for the future investment in a meeting with Vietnamese Prime Minister Pham Minh Chinh, according to a statement.
Adani said the company spent time researching and assessing opportunities for long-term investment in the Southeast Asian country. Along with the seaport and logistics sectors, the ports operator is also looking at investing in the energy sector and digital technology of the nation.
"In particular, Adani Ports wishes to build a seaport ecosystem and invest in wind power and solar power projects in Vietnam, with a total outlay of around $3 billion," Adani said.
Chinh welcomed Adani Group's plan to invest in Vietnam, including the Lien Chieu Wharf area in Da Nang, as well as the renewable energy segment.
While the comprehensive strategic partnership between India and Vietnam is developing positively, economic relations—especially investment, trade and tourism—are still inadequate, he said.
"There is a need for a breakthrough, especially in the field of infrastructure development," the Prime Minister said. "Vietnam is ready to create more favourable conditions for large Indian companies and corporations, including Adani Group, to invest and do business in Vietnam."
Chinh said the Vietnamese government was ready to create favourable conditions for Adani Group to continue researching other investment projects in Vietnam.
Disclaimer: AMG Media Networks Ltd., a subsidiary of Adani Enterprises Ltd., holds 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
