📷 Image Credits: Mint
Adani Group, led by billionaire Gautam Adani, is making strategic moves to expand its operations in Vietnam, aiming to strengthen its foothold in the international trade sector. The conglomerate plans to build a new port in Da Nang, Vietnam, after receiving an “in-principle approval from the Vietnamese government.” This initiative is part of Adani Group’s broader strategy to develop infrastructure overseas and capitalize on the growing trade opportunities in the region.
The new greenfield development in Vietnam will include container terminals and multipurpose berths to handle various types of cargo, facilitating smoother trade operations. Adani Ports and Special Economic Zone Ltd., India’s largest port operator, has set ambitious goals for increasing its international operations. The company currently derives about 5% of its total trade volume from international ventures and aims to raise this ratio to 10% by 2030.
Karan Adani, Managing Director of Adani Ports and Special Economic Zone Ltd., emphasized the significance of targeting countries with high manufacturing and population density to drive consumption and boost export volumes. According to him, the strategic focus is to establish India as a maritime hub, leveraging key trade routes and partnerships in regions like South East Asia, Middle East, and East Africa.
The Adani Group’s endeavors in Vietnam are part of a broader vision to enhance India’s position in international maritime trade. With existing port infrastructures in Israel, Sri Lanka, and Tanzania, the addition of a new port in Vietnam underscores the conglomerate’s commitment to expanding its global footprint and diversifying its trade operations.
As the global trade landscape continues to evolve, Adani Group’s investments in overseas infrastructure projects signal a proactive approach to seizing growth opportunities in key markets. The planned expansion in Vietnam aligns with the conglomerate’s long-term strategy to strengthen its presence in strategic locations and enhance trade connectivity across borders.
