Prime Minister Pham Minh Chinh worked with leaders of leading Indian corporations in the fields of infrastructure and pharmaceutical technology, calling for investment in large, high-tech projects with spillover effects in Vietnam.
According to the special correspondent of VNA, during his State visit to India, on the morning of July 31, in the capital New Delhi, Prime Minister Pham Minh Chinh worked with leaders of leading Indian corporations in the fields of infrastructure and pharmaceutical technology, calling for investment in large, high-tech projects with spillover effects in Vietnam.
Prime Minister Pham Minh Chinh received Mr. Gautam Adani, Chairman of Adani Group, and leaders of Adani Group - one of the largest corporations in India operating in the fields of infrastructure investment, transportation, energy..., with revenue in fiscal year 2023 reaching 2.7 billion USD, profit reaching 650 million USD.
Chairman Gautam Adani and leaders of Adani Group said that in Vietnam, the group is implementing investment activities at Lien Chieu port, Da Nang, with a total expected investment capital of 2 billion USD.
Adani wishes to deploy energy investment activities in Binh Thuan, specifically the Vinh Tan 3 Thermal Power Project, with a total expected investment capital of 2.8 billion USD; cooperate with Vietnam's SOVICO Group to invest in airports, specifically Chu Lai and Long Thanh Airports, and invest in building a logistics center in Vietnam.
Prime Minister Pham Minh Chinh highly appreciated the operation model, scale, vision, and role of Adani Group in contributing to economic development in India and other countries where the group has branches; the group's operating results in Vietnam in recent times; and welcomed the group's plans to cooperate, invest, and expand investment in Vietnam in the coming time.
Informing that Vietnam is implementing three strategic breakthroughs to promote socio-economic development including institutions, infrastructure, and human resource training, Prime Minister Pham Minh Chinh affirmed that Vietnam will create all favorable conditions for foreign investors to participate in investing in essential infrastructure projects in Vietnam such as highways, airports, seaports, high-speed railways, subways, metros, logistics centers, etc.
The Prime Minister asked Adani to invest capital and bring to Vietnam advanced technology, new technology, high technology, clean technology, modern management, high added value, spillover effects, and connection to global production and supply chains.
Regarding the Lien Chieu Port Project, which is facing some procedural problems due to the adjustment of the investment policy, the Prime Minister requested the Group to coordinate with the People's Committee of Da Nang City, the Ministry of Transport and relevant agencies and localities to discuss and resolve existing problems between the parties, in the direction of Adani investing 100% of the capital to develop port infrastructure and participating in joint ventures to exploit the port, logistics services, commercial centers, etc.
The Prime Minister welcomed Adani's cooperation with SOVICO to invest in airports and logistics services in Vietnam, first investing in the construction of Chu Lai Airport, and studying participation in phase 2 of Long Thanh Airport; and suggested that Adani work with Vietnam Airports Corporation, the Ministry of Transport, and SOVICO Group to research and implement, with the spirit of "what is said must be done, what is committed must be done, what is done must have specific and substantial results."
Regarding cooperation in the energy sector, the Prime Minister said that the Government has approved the National Strategy on Green Growth to realize Vietnam's commitment at the 26th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP26) on reducing net emissions to zero by 2050; approved the national power development plan for the 2021-2030 period, with a vision to 2050, including the development of energy sources such as wind power, solar power, green hydrogen, etc.
Prime Minister Pham Minh Chinh asked the group to continue discussing and working with the Ministry of Industry and Trade, Vietnam Electricity Group and relevant ministries, branches and localities on the project; said that the Vietnamese Government always supports and is ready to create a favorable legal corridor for investment, production and business activities of the domestic and foreign business community, including Indian enterprises and the Adani Group; and to accompany and create favorable conditions for the group to implement effective, successful and sustainable investment and business activities in Vietnam.
Prime Minister Pham Minh Chinh worked with leaders of the joint venture SMS Pharmaceuticals Group and Sri Avantika Contractors Company, which are operating in the fields of mining, pharmaceuticals, infrastructure, trade, etc.
In Vietnam, SMS Pharmaceuticals and Sri Avantika Contractors have formed a joint venture with a Vietnamese company to develop a Pharmaceutical Industrial Park in Nghi Son Economic Zone, Thanh Hoa.
At the meeting, highly appreciating the investment environment in Vietnam, Mr. Ramesh Babu, Chairman and CEO of SMS Pharmaceuticals Group and CEO of Sri Avantika Contractors Company expressed his hope that the Government would pay attention and create favorable conditions for approving and developing the project.
Specifically, the Joint Venture wishes to have a clean land of about 500 hectares to invest in building a pharmaceutical park in Vietnam, with a total investment capital of about 700 million to 1 billion USD in phase 1 and expand, attracting additional investment of 4-5 billion USD in 10 to 12 years.
Appreciating the business performance of SMS Pharmaceuticals and Sri Avantika Contractors in the field of biopharmaceuticals in India and the group's contributions to the production of cancer treatment drugs, Prime Minister Pham Minh Chinh welcomed the results achieved as well as the group's plans for cooperation, investment, support and technology transfer with Vietnam in the coming time.
Stating that Vietnam has abundant pharmaceutical raw materials, but the pharmaceutical and drug manufacturing industry is still limited, while with a market of 100 million people, Vietnam imports 33% of pharmaceuticals from India, the Prime Minister suggested that SMS Pharmaceuticals Group and Sri Avantika Contractors continue to discuss and work with the Ministry of Health and relevant ministries, branches and localities to implement cooperation and investment contents in Vietnam; promote technology transfer, develop the pharmaceutical industry, build a pharmaceutical industrial ecosystem in Vietnam, not only to meet domestic demand, reduce imports but also export to markets in the region and the world.
The Prime Minister said that Vietnam applies special investment incentives to projects with large capital scale, quick disbursement and meeting criteria on high technology, technology transfer, high rate of Vietnamese enterprises participating in value-added chains; affirmed that the Vietnamese Government always supports and is ready to create a favorable legal corridor for investment, production and business activities of the business community, including Indian enterprises; accompanies and creates favorable conditions for the group to deploy effective, successful and sustainable investment and business activities in Vietnam in the spirit of "harmonious benefits, shared risks."
Next, Prime Minister Pham Minh Chinh worked with Mr. Dharmesh Shah, Chairman and Founder of BDR Group and senior leaders of BDR Group - operating in the field of pharmaceutical production, oncology, intensive care, dermatology, gynecology, cardiovascular drugs in many countries and has established a representative office in Vietnam since 2022, currently providing pharmaceutical raw materials for the preparation of cancer treatment drugs for a number of factories in Vietnam.
Chairman Dharmesh Shah and senior leaders of BDR Group hope that the Prime Minister will direct the promotion of approval and licensing of distribution of drugs for the treatment of certain types of cancer such as prostate cancer, breast cancer, etc. in the Vietnamese market; implement cooperation in drug production and transfer of pharmaceutical production stages; support drug manufacturing facilities that have been granted GMP certificates in Vietnam to meet EU-GMP and WHO-GMP standards; and build a data center.
Appreciating the effective business activities of corporations and joint ventures in the field of biopharmaceuticals in India and the corporation's contributions to the production of cancer treatment drugs; welcoming the corporation's plans to cooperate, support, and transfer technology with Vietnam in the coming time; the Prime Minister suggested that the corporation continue to discuss and work with the Ministry of Health and relevant ministries and branches to implement specific cooperation projects and programs, including researching investment in large-scale, high-tech projects, while transferring technology, creating jobs, building a domestic distribution system and promoting the global distribution chain, in the spirit of "having discussed and agreed to do; having done must have products; products must be consumable; bringing benefits to all stakeholders, harmonious benefits, and shared risks."
The Prime Minister affirmed that the Vietnamese Government always supports and is ready to create a favorable legal corridor for investment, production and business activities of the domestic and foreign business community, including Indian enterprises and BDR Group; and will accompany and create favorable conditions for the group to implement effective, successful and sustainable investment and business activities in Vietnam./.
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