Adani Group
The Adani Group, one of India’s largest multinational conglomerates, is considering significant investments in two key airports in Vietnam. This announcement comes just weeks after the company disclosed it had secured permission to develop a seaport in the country, as reported by Reuters.
The Vietnamese government’s statement was released following a high-profile meeting in Delhi between Vietnamese Prime Minister Pham Minh Chinh and Gautam Adani, Chairman of the Adani Group, during the Prime Minister’s official visit to India. The meeting underscored the growing economic ties between India and Vietnam and highlighted potential areas of collaboration.
“Adani is planning to strengthen cooperation with Vietnamese partners in the fields of aviation and logistics, via the construction of Long Thanh airport and Chu Lai airport,” the Vietnamese government’s statement read. Long Thanh and Chu Lai are two major airports located in the southern and central regions of Vietnam, respectively, and are seen as critical to the country’s infrastructure development and economic growth.
Long Thanh International Airport, which is under construction, is poised to become one of the largest airports in Southeast Asia, designed to alleviate congestion at the Tan Son Nhat International Airport in Ho Chi Minh City. The Chu Lai Airport, located in Quang Nam province, serves as a key logistics and transportation hub for the central region.
Adani Group’s potential investment in these airports is part of a broader strategy to expand its footprint in Vietnam’s rapidly growing economy. Last year, Karan Adani, CEO of Adani Ports and SEZ Limited, announced plans to invest up to $3 billion in various projects in Vietnam, including seaports and renewable energy ventures. He indicated that the total investment could reach $10 billion over the long term, reflecting the group’s commitment to the region.
The Adani Group’s interest in Vietnam aligns with its global expansion strategy, focusing on infrastructure, logistics, and energy. By investing in Vietnamese airports and seaports, Adani aims to tap into the country’s strategic location and its potential as a regional trade and logistics hub.
The move is expected to bolster Vietnam’s infrastructure, enhance its connectivity, and support its ambitions to become a more significant player in global trade. For Adani, it represents an opportunity to leverage Vietnam’s economic growth and establish a strong presence in a dynamic and emerging market.
This development comes at a time when Vietnam is seeking to attract more foreign investment to support its infrastructure projects and economic development goals. The collaboration with Adani Group is likely to bring in advanced technology, operational expertise, and significant capital, which could accelerate the development of Vietnam’s aviation and logistics sectors.
In conclusion, the Adani Group’s proposed investments in Long Thanh and Chu Lai airports mark a significant step in strengthening India-Vietnam economic ties and demonstrate Adani’s commitment to expanding its global operations. These investments are poised to bring substantial benefits to both countries, fostering economic growth, and enhancing regional connectivity.