India’s Adani Group is exploring the possibility of investing up to $3 billion in seaport and renewable energy projects in Vietnam, the Vietnamese government said in a statement on Wednesday.
The statement came after a meeting in Hanoi on the same day between Vietnamese Prime Minister Pham Minh Chinh and Karan Adani, CEO of Adani Ports and Special Economic Zone, the cooking oil unit of conglomerate Adani Group.
“Vietnam is willing to create more favorable conditions for large Indian 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 at Lien Chieu Port in the central city of Danang, according to a statement.
Karan told Chinh Adani that he would soon work with Vietnamese partners and stakeholders on specific investment projects in the country, according to a statement that said the investment could reach $10 billion in the long term.
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