Beginning his state visit to India, on the morning of July 31, in New Delhi, Prime Minister Pham Minh Chinh met with Mr. Gautam Adani, Chairman of Adani Group.
The Prime Minister affirmed that the Government always accompanies and creates favorable conditions for investors to effectively, successfully, and sustainably conduct business activities in Vietnam – Photo: VGP/Nhat Bac
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Adani is India’s largest infrastructure and energy conglomerate. It owns 14 of India’s largest private ports, accounting for 25% of the country’s port capacity, and seven of its airports. Adani is also India’s largest energy company.
In 2023, the group’s revenue reached approximately $33 billion, with a profit of about $2.9 billion and a global workforce of 29,000 employees. As of the end of 2023, Mr. Gautum Adani was the 15th richest person in the world, with a net worth of $82.5 billion, making him the second wealthiest person in India and Asia.
At the meeting, the leader of the Adani Group expressed his condolences on the passing of General Secretary Nguyen Phu Trong. He admired the contributions and legacy of General Secretary Nguyen Phu Trong to Vietnam’s development and the Vietnam-India relationship.
The Adani leader shared that in Vietnam, the group is proposing to invest in the Lien Chieu Port in Da Nang with a total expected capital of over $2 billion. They aim to create a comprehensive logistics ecosystem in the city.
Adani also wishes to invest in energy in Binh Thuan province, specifically in the Vinh Tan 3 Thermal Power Project, with a total expected investment of $2.8 billion.
Additionally, Adani plans to strengthen cooperation with Vietnamese partners in aviation and logistics, including the construction of Long Thanh International Airport Phase 2 and Chu Lai Airport.
The group requested the Government’s facilitation and support and put forward several proposals to promote their investment activities in Vietnam.
Prime Minister Pham Minh Chinh expressed his gratitude to the Adani Group’s leader for sharing his condolences with the Party, State, and people of Vietnam on the passing of General Secretary Nguyen Phu Trong.
After hearing feedback from the ministries, sectors, and localities regarding Adani’s proposals, the Prime Minister highly appreciated the group’s business model, scale, vision, and contributions to India’s economic development and other countries, including Vietnam. He welcomed Adani’s intention to cooperate and expand its investments in Vietnam, totaling approximately $10 billion.
Regarding the Lien Chieu Port project, the Prime Minister stated the policy of selecting a single investor to develop the project’s infrastructure, while the operation can be done in cooperation with Vietnamese enterprises. He requested that the People’s Committee of Da Nang City, the Ministry of Transport, the Ministry of Planning and Investment, and relevant agencies and localities directly engage with the Adani Group immediately after the meeting to resolve any outstanding issues and agree on a plan of action, following the prescribed procedures.
The Prime Minister also welcomed the group’s proposal to participate in the construction of Long Thanh International Airport Phase 2 and Chu Lai Airport. He suggested they coordinate with Vietnamese agencies to carry out the necessary procedures in accordance with legal regulations. The Prime Minister emphasized the strategic location and significant potential of Chu Lai Airport.
On energy cooperation, including the Vinh Tan 3 Thermal Power Project, the Prime Minister requested Adani to complete the necessary documents and provide comprehensive information to the Ministry of Industry and Trade and relevant agencies for project implementation according to regulations.
The Prime Minister also proposed that Adani Group enhance technology transfer and cooperation with Vietnamese enterprises, helping them improve their capacity and participate in the group’s supply chain and development ecosystem.
He affirmed that the Government is committed to accompanying and creating favorable conditions for investors to effectively, successfully, and sustainably conduct business activities in Vietnam, including in strategic infrastructure.
Based on the traditional friendship and comprehensive strategic partnership between Vietnam and India, along with high political trust and cultural similarities, the Prime Minister emphasized the spirit of “only discussing progress, not regression,” “keeping promises and commitments,” and “taking action and producing concrete results.” He also stressed the importance of clear responsibilities, timelines, and outcomes, with a focused and prioritized approach, and a philosophy of “harmonious benefits and shared risks” and “working and winning together, developing together.”
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