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Tata eyes VN for expansion strategy

VNGOP – The Indian giant Tata Group has considered Việt Nam one of the most important markets in Asia in its international expansion strategy.

10/11/2007 07:12

 

Deputy PM Phạm Gia Khiêm receives Tata Executive Director

Alan Rosling – Photo: VNGOP

“Việt Nam is the most significant market for Tata at this moment, particularly in the production of industrial steel,” the group’s executive director Alan Rosling told Vietnamese reporters on the sidelines of a press conference in Hà Nội on October 11.

Alan Rosling is leading a delegation including leaders of Tata Group’s companies specializing in telecommunications, steel, fertilizer, chemicals and transport on a visit Việt Nam from October 10-12 to explore investment environment and opportunities in the Southeast Asian nation.

He said that the cutting-edge of the Tata Group is in steel production and Việt Nam is a potential manufacturing base to expand into international markets for the group’s products.

“Việt Nam is going to become much more developed in ten years time, already Việt Nam is growing by 8 percent. If Việt Nam takes 8 percent for five or ten years, the country will be a very different place for foreign investors,” Rosling said.

On October 10, Alan Rosling and his entourage met with Vietnamese Deputy PM Phạm Gia Khiêm, ministers and representatives of state-owned and private companies to look into potential investment areas in Việt Nam.

The Indian delegation said that in addition to the steel production, the Tata Group will consider invest in the chemical, energy and telecommunications areas in Việt Nam as “investment opportunities in the country are great for both domestic and abroad companies.”
In May 2007, Tata Steel, a subsidiary of the Tata Group, signed a cooperation document with the Việt Nam Steel Corporation (Vinasteel) in building a steel production plant in central Hà Tĩnh Province.

Tata Group is made up of 96 companies working in areas of information technology and communications, manufacturing industry, materials, services, energy, consumption and chemical products. Tata Group reached a turnover of US $28 billion in 2006-07.

(Source: VNA)