Indian Businesses Seek to Invest in Vietnam's Energy Sector

The working session between Minister Nguyen Hong Dien and Karan Adani, CEO of Adani Ports and Special Economic Zones. Photo: Can Dung

On December 22, at the headquarters of the Ministry of Industry and Trade, Minister Nguyen Hong Dien had a reception and working session with Karan Adani, CEO of Adani Ports and Special Economic Zones (APSEZ).

During the meeting, the Minister of Industry and Trade welcomed leaders of the Adani Group and leaders of its member companies to come to Vietnam and have a working session at the Ministry of Industry and Trade.

The Minister emphasized that in the context of the world economic situation with complex and unpredictable developments, strengthening connections and exchanges to promote cooperation and develop economic, trade, industrial and investment relations between Vietnam and India is essential.

Minister Nguyen Hong Dien emphasized the good, traditional, and friendly relationship between Vietnam and India, and the Comprehensive Strategic Partnership between the two countries.

He affirmed that India has been and is an important trade and investment partner of Vietnam in South Asia particularly and Asia.

Recently, Adani Group wanted to invest in Vietnam in potential fields such as shipping, and developing seaport ecosystems, especially the field of renewable energy including wind power, and solar power.

Therefore, the Minister hopes that during his business trip to Vietnam, Adani leaders and leaders of its member companies will have more research, exchange investment opportunities, and business cooperation in Vietnam.

Minister Nguyen Hong Dien expects that, after the business trip to Vietnam, Adani Ports and Special Economic Zones will have more investment and business cooperation opportunities in Vietnam. Photo: Can Dung

Adani Group's leader agreed with the Minister's opinion. He believed that the potential and opportunities for cooperation between Vietnam and India, between the private businesses of the two countries in particular still have a lot of room.

They are especially interested in the potential for cooperation between the two sides in the fields of energy, renewable energy, and maritime transportation.

"Hopefully these fields will open up many opportunities for cooperation between Adani Group and Vietnam now and in the future," Karan Adani said.

Within the framework of the meeting, Adani presented its strong areas and the focus of cooperation in Vietnam.

Accordingly, Adani Group is interested in investing in many thermal power plants, participating in the development of the renewable energy industry, and necessary thermal energy projects in Vietnam to contribute to the development of the above industries.

In addition, Adani representative also expressed his hope that the Ministry of Industry and Trade would have more discussions on this issue.

Minister Nguyen Hong Dien and Karan Adani and representatives of leaders of both sides' units at the event. Photo: Can Dung

The Minister of Industry and Trade discussed and shared with the Group the energy development orientation, including renewable energy of Vietnam. He provided information about the production/supply situation and demand for energy sources in Vietnam.

Minister Nguyen Hong Dien affirmed that energy is an important issue not only economically but also in terms of security in Vietnam.

Therefore, the Minister suggested that if Adani Group intends to invest long-term and sustainably in Vietnam, it is necessary to carefully study the mechanism/policy, and find and cooperate with suitable and reputable partners.

This contributes to promoting economic, trade, and investment cooperation between the two countries more practically and deeply.

At the end of the meeting, Minister Nguyen Hong Dien affirmed that Vietnam always creates favorable conditions for foreign companies and investors in general, including Adani Group to continue researching investment and business in Vietnam based on regulations and laws.

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