AUGUSTASIA BUSINESS OUTLOOK9NEWSROOMUAE & CHILE SIGN MAJOR TRADE DEALIndia's Adani Group is exploring opportunities to invest in Vietnam's aviation and logistics sectors, according to a statement from the Vietnamese government on Wednesday. This announcement follows a meeting between Vietnamese Prime Minister Pham Minh Chinh and Gautam Adani, the head of the Adani Group, during Chinh's official visit to India.Adani Group is considering investments in two significant airport projects in Vietnam:Long Thanh Airport: Located in the southern region of Vietnam, Long Thanh Airport is a major infrastructure project aimed at relieving the overload of Tan Son Nhat Airport in Ho Chi Minh City.Chu Lai Airport: Situated in the central region of Vietnam, Chu Lai Airport is strategically positioned to support economic development in the area.The statement did not specify the exact amount of investment or the timeline for these projects. However, it highlighted Adani Group's intent to strengthen cooperation with Vietnamese partners in aviation and logistics.This initiative builds upon Adani Group's broader plans in Vietnam. Last year, Karan Adani, the elder son of Gautam Adani, announced intentions to invest up to $3 billion in seaport and renewable energy projects. Looking ahead, these investments could potentially expand to $10 billion over the longer term, reflecting the group's strategic interest in enhancing its presence in Vietnam's infrastructure and energy sectors. The UAE and Chile have agreed to a Comprehensive Economic Partnership Agreement (CEPA) to boost non-oil bilateral trade by eliminating trade barriers and streamlining customs procedures. It will also facilitate the creation of new opportunities for investment collaboration, allowing the private sectors of both nations to broaden their partnerships.Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and Gabriel Boric Font, President of Chile, were present in Abu Dhabi on Monday to observe the agreement being signed. Sheikh Mohamed stated that the UAE will keep up its unwavering strategy in creating collaborative relationships globally to benefit both parties and offer prospects for future generations.He mentioned that the CEPA agreement between the UAE and Chile promotes mutual economic development by offering opportunities for businesses and the private sector to grow in both countries.Boric Font enthusiastically greeted the agreement signing, deeming it a significant achievement in their bilateral relations. Sheikh Mohamed and Boris Font also supervised the declaration of various memoranda of understanding focused on improving collaboration between the two nations.These agreements include various areas, such as food security and agrifood investment; collaboration in investment, information technology, and peaceful space research and activities; and a statement of purpose in the mining sector. VIETNAM'S AVIATION & LOGISTICS SECTOR TO RECEIVE INVESTMENT FROM INDIA'S ADANI GROUPAUGUSTASIA BUSINESS OUTLOOK9
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