India’s TATA Group has already planned to invest in a wide range of business sectors in Vietnam, said Indronil Sengupta, Executive Director of the conglomerate in Vietnam.
President Tran Dai Quang and Indronil Sengupta, Executive Director of TATA Group (Photo: VNA)
Hanoi (VNA) – India’s TATA Group has already planned to invest in a widerange of business sectors in Vietnam, said Indronil Sengupta, ExecutiveDirector of the conglomerate in Vietnam.
Heshared the information at a meeting with President Tran Dai Quang in Hanoi onJanuary 12.
IndronilSengupta said the future investment will target solar- and wind-power projects,a coffee processing plant in Binh Duong, as well as the installation ofagricultural machinery to serve demand in the Mekong Delta.
Aproject to import and assembly TATA light trucks is also part of the plan, headded.
Congratulatingthe India giant on its success across multilateral fields in Vietnam, PresidentQuang stated that Vietnam always considers foreign companies, including thosefrom India, as a key component of the economy.
TheVietnamese Government is working to improve its legal framework on business inline with international standards to facilitate foreign investors in thecountry, he added.
ThePresident welcomed TATA’s expansion in Vietnam and expressed his confidencethat the group’s Long Phu thermo-power II in Soc Trang, once operational, wouldopen the door for more Indian projects to come to Vietnam.
TheGovernment will create favourable conditions for the Long Phu plant to be putinto operation as scheduled, Quang noted, adding that power development is apriority of Vietnam.
Hepointed to the fact that Vietnam and India established comprehensive strategicpartnership in September 2016 and would celebrate the 45th anniversary of bilateral relations this year.
Quangsuggested the group take advantages of these opportunities to thrive as one ofthe top investors in Vietnam, particularly in electricity production, mechanicsand infrastructure development, helping the two countries soon reach atwo-way-trade value of 15 billion USD as previously set.-VNA
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President Tran Dai Quang and Indronil Sengupta, Executive Director of TATA Group (Photo: VNA) 
