Adani ports to make forays into a Vietnamese port

After a failed investment in Myanmar, the Adani port is looking at the prospect of taking over a Vietnamese Port, a country which is the major beneficiary of  US policy in moving away its manufacturing plants from China according to international media reports

 Adani Group is exploring the possibility to invest up to 3 billion US dollars in Seaport and renewable energy projects in Vietnam, the Vietnamese government said in a statement..

Vietnam welcomed Adani’s investment, initially in Lien Chieu Port in the central city of Danang, according to the statement after the meeting Mr Karan Adani CEO of Adani Ports had with Vietnamese Prime Minister Pham Minh Chinh on May 24^th..

Adani Port recently pulled out its investment in a Myanmar port unable to withstand the rigors of the US sanctions against the Military junta in that country

“Vietnam is willing to create more favorable conditions for India's large companies, including Adani, to invest and do business in the country,” Chinh told Karan at the meeting, according to the statement.  Adani would soon work with Vietnamese partners and stakeholders on specific investment projects in the country, according to the statement, which said the investment could reach 10 billion US dollars over the longer term.