India conglomerate pledges to invest 10 billion USD in Vietnam
A joint venture between India’s Adani Group and Vietnam’s Anh Phat Investment Construction & Trading JSC has been approved by authorities of Da Nang to start studying the development of a major seaport in the central city, according to Nhan dan (People) newspaper.
Hanoi (VNA) – A joint venture between India’s AdaniGroup and Vietnam’s Anh Phat Investment Construction & Trading JSC has beenapproved by authorities of Da Nang to start studying the development of a majorseaport in the central city, according to Nhan dan (People) newspaper.
Lien Chieu Port will be capable of handling 3.5 – 5 milliontonnes of cargo annually in the first phase. It can accommodate vessels of upto 100,000 tonnes and container ships of up to 8,000 TEU.
The new port will be of the world class and offer a newengine for the development of Da Nang and Vietnam at large. Insiders said the project can provide 5,000 jobs and contribute up to 80 million USD to the city's coffer, equivalent to around 2.1 percent of Da Nang’s Gross Regional DomesticProduct (GRDP), by 2030.
The approval was officially granted by the municipal People’sCommittee to the joint venture in the presence of Prime Minister Pham MinhChinh at the Da Nang Investment Forum 2022 on June 25.
Also during the event, Adani Group, a multinationalconglomerate owned by Indian billionaire Gautam Adani, pledged to invest 10billion USD in several key sectors in Vietnam.
The sum is part of the 100 billion USD worth of the group’s idleinvestment that it wishes to invest overseas by 2026.
Gauta Adani, Chairman of Adani Group, has viewed Vietnam asan important partner in the group’s expansion overseas in the future. TheIndian corporation has been looking for other projects abroad ininfrastructure, port, logistics and green energy to invest in.
Founded in 1988, the multi-sectoral conglomerate now expandsto over 50 countries worldwide. By the end of April 2022, its market capitalisationhas exceeded 206 billion USD.
Its member company Adani Ports and SEZs operates 13international ports and five logistics centres, capable of handling about 560million tonnes of cargo per year./.
According to the Container Port Performance Index 2021 report (CPPI 2021) developed and published recently by World Bank and S&P Global Market Intelligence, Cai Mep port of Vietnam was ranked 11th among the 370 most efficient container terminals/port clusters globally.
Vietjet has officially launched four more services linking top destinations of Vietnam and India including Ho Chi Minh City/Hanoi – Mumbai and Phu Quoc – New Delhi/Mumbai.
The volume of searches from Indian visitors for tourism services in Vietnam has increased strongly in recent months, according to Google’s market trend tracker tool.
A workshop themed “Vietnam as your Green business opportunities destination” was held by the Belgian Vietnamese Alliance (BVA) and the Flanders International Technical Agency (FITA) in Brussels on June 22 to introduce Vietnam’s potential in renewable energy and sustainable port development.
Two Indian naval ships carrying with more than 500 crewmembers arrived at Nha Rong Wharf on June 24, beginning a three-day friendship visit to Ho Chi Minh City.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Illustrative image (Photo: VNA)
