India’s Adani Group weighs $3B investment in Vietnam

The statement came after a meeting in Hanoi on the same day between Vietnamese Prime Minister Pham Minh Chinh and Karan Adani, chief executive officer of Adani Ports and Special Economic Zone, a unit of the cooking oil-to-coal mining conglomerate Adani Group.

“Vietnam is willing to create more favorable conditions for India’s large companies, including Adani, to invest and do business in the country,” Chinh told Karan at the meeting, according to the statement.

Chinh said Vietnam welcomed Adani’s investment, initially in Lien Chieu Port in the central city of Da Nang, according to the statement.

Karan told Chinh Adani would soon work with Vietnamese partners and stakeholders on specific investment projects in the country, according to the statement, which said the investment could reach $10 billion over the longer term.