Asia's richest man intends to invest billions of USD in multiple projects in Vietnam

DNHN - Gautam Adani, Chairman of Adani Group, expressed his desire for the Vietnamese government to direct, facilitate, and propose some suggestions to help the group boost its investment activities in Vietnam.

On the morning of July 31 in New Delhi, Prime Minister Pham Minh Chinh met with Mr. Gautam Adani, Chairman of Adani Group.

Adani Group is the largest airport operator in India and controls Mundra Port, India's largest port. The group also invests in the fields of power transmission and green energy. Recently, on June 3, Gautam Adani became the richest person in Asia with a net worth of $122 billion, according to the Bloomberg Billionaire Index.

Gautam Adani, Chairman of Adani Group, expressed his desire for the Vietnamese government to direct, facilitate, and propose some suggestions to help the group boost its investment activities in Vietnam. Adani’s leader stated that in Vietnam, the group is proposing to invest in Lien Chieu Port (Da Nang) with the expectation of creating a complete logistics ecosystem in Da Nang.

Expressing interest in the Lien Chieu Port project in Da Nang, Mr. Gautam Adani said that he has submitted an investment proposal and a pre-feasibility study report for the project. The group wishes to invest comprehensively in a smart port system with an estimated investment of over $2 billion and address difficulties regarding the proposal to invest 100% capital in this project.

Adani also wants to implement energy investment activities in Binh Thuan, specifically the Vinh Tan 3 Thermal Power Plant project, with a total estimated investment of $2.8 billion.

Additionally, the group shared plans to enhance cooperation with Vietnamese partners in the fields of aviation and logistics, such as constructing Long Thanh Airport Phase 2 and Chu Lai Airport.

Mr. Gautam Adani expressed his desire for the Vietnamese government to direct and facilitate the group's investment activities in Vietnam.

In response, Prime Minister Pham Minh Chinh stated that for the Lien Chieu Port project, Vietnam's policy is to select an overall infrastructure investor. Foreign enterprises can cooperate with domestic units for port operation according to legal regulations. The Prime Minister assigned Da Nang City, the Ministry of Transport, and the Ministry of Planning and Investment to work directly with Adani Group right after the meeting to resolve related issues, agree on the approach, and implement the procedures.

Lien Chieu Port is planned as a Class I deep-water port with a crucial position, connecting the international East-West economic corridor and serving as the gateway for the central region. When operational, the port's general berth will have a capacity of 100,000 tons, and the container berth will have a capacity of 200,000 tons. The port's capacity by 2045 is expected to reach about 100 million tons of goods per year. It is estimated that the state will invest about VND 3,000 billion to develop shared infrastructure and call for synchronized investment in this seaport.

Regarding Chu Lai Airport, the Prime Minister shared that if Adani partners with a Vietnamese enterprise for investment, it would be very favorable as the project has many advantages. This airport already has two runways, a 1,200-hectare site available without the need for land clearance. The airport holds a strategic position for Vietnam and is considered a transshipment hub for Southeast Asia and Asia.

The government leader requested the group to complete documents and provide information about the Vinh Tan 3 thermal power plant project, submitting it to the Ministry of Industry and Trade and related units for implementation. He also assigned the Minister of Planning and Investment to guide Adani in participating in Long Thanh Airport Phase 2 in aspects such as runways.

"We will have priority and investment attraction policies, but it must come with technology transfer and connect with Vietnamese enterprises to participate in the supply chain," emphasized the Prime Minister.

The head of the Vietnamese government also set the requirement that after this meeting, the investor should work immediately with Vietnamese ministries, sectors, and localities to discuss specific implementation details with the spirit of urgency, clear roles, clear tasks, clear timelines, and clear outcomes.

Expressing gratitude for the resolution of obstacles by the Prime Minister and the ministries, sectors, and localities, Chairman Adani confirmed that the group would immediately implement the projects and commit to complying with legal regulations, building modern smart port infrastructure to world standards, and contributing to Vietnam's economic development.

Phuong Anh