President Tran Dai Quang (right) shakes hands with Indronil Sengupta, Chief Executive – Vietnam at Tata Sons. (Photo: VNA)

Hanoi (VNA) – Vietnam always treasures and encourages foreign investors, including those from India, to invest and do business in the country, President Tran Dai Quang told Indronil Sengupta, Chief Executive – Vietnam at Tata Sons.

Speaking at a reception for Sengupta in Hanoi on February 13, President Quang said the Government of Vietnam is continuing with reform and improving business regulations to meet international standards and create favourable conditions for foreign investors.

He said developing energy, particularly renewable energy, is a priority of Vietnam, expressing his belief that when Long Phu 2 thermal power plant is completed, it will pave the way for Indian projects to enter Vietnam.

The President asked Tata Group to fast-track the project and put the thermal plant into operation on schedule.

President Quang spoke highly of Tata’s move to expand business operations to other fields in Vietnam, including port development and coffee production and processing.

He hoped that enterprises from Vietnam and India will propose ideas to step up two-way trade and investment between the two countries at the upcoming Vietnam – India Business Forum in a bid to lift bilateral trade to 15 billion USD as soon as possible.

Sengupta informed President Quang about the Tata Group’s projects in Vietnam, including a 70-million-USD coffee processing facility in Binh Duong and solar power projects in four provinces with a combined capacity of 250 mW.

He affirmed that Tata is working hard to complete these projects on schedule and wants to expand to other fields in Vietnam.

Found in 1869, Tata Group is one of India’s largest conglomerates, which has been present in over 40 countries and territories and among India’s biggest investors in Vietnam. It is building the Long Phu 2 thermal power plant in the Mekong Delta province of Soc Trang.-VNA