Minister Le Manh Hung works with Essar Group to promote Vietnam - India cooperation in energy and biofuels
As part of the working visit to India accompanying General Secretary and State President To Lam on a State visit to India, on the afternoon of 7 May 2026, Minister of Industry and Trade Le Manh Hung held a meeting and working session with Essar Group, one of India’s major multinational conglomerates operating across four core sectors, including energy, infrastructure, metals and mining, technology, and retail.
Attending the meeting from Essar Group were senior executives of the Group, along with representatives in charge of energy, strategy, and oil and gas operations. From the Vietnamese Ministry of Industry and Trade, participants included leaders from relevant departments such as the Electricity Authority, the Industry Agency, the Foreign Market Development Department, the Ministry Office, and the Vietnam Trade Office in India.
At the meeting, Minister Le Manh Hung highly appreciated Essar’s interest, presence, and long-standing cooperation in Vietnam over recent years, particularly in the energy and oil and gas sectors. He acknowledged the Group’s collaborative activities with Vietnamese partners, as well as its intention to further expand investment and cooperation in the coming period.
The two sides held in-depth discussions on prospects for cooperation in energy, oil and gas, biofuels, and low-emission energy solutions. The Minister noted that Vietnam is continuing to improve its legal framework, implement the National Energy Master Plan, and promote an energy transition towards a green and sustainable direction, thereby opening up significant opportunities for international enterprises with strong capacity and experience such as Essar.
In the oil and gas sector, the Minister emphasized that Vietnam is in the process of amending the Petroleum Law 2022 to create a more transparent and favorable legal environment for exploration, development, and production activities. Vietnam encourages capable investors to continue expanding cooperation and participation in oil and gas, energy, and energy infrastructure projects, in line with the national energy development plan, ensuring investment efficiency and compliance with Vietnamese regulations.
Regarding biofuels and bio-refinery development, the Minister stressed that Vietnam is actively implementing its biofuel development roadmap to enhance energy security and environmental protection. He highly valued Essar’s experience in utilizing agricultural by-products to produce energy, petrochemical products, and chemicals, noting that this direction aligns well with Vietnam’s orientation towards sustainable development, circular economy, and energy transition.
Minister Le Manh Hung encouraged Essar to further explore investment opportunities in Vietnam in areas such as biofuels, sustainable aviation fuel (SAF), green hydrogen, and low-emission energy solutions. He also called for closer coordination with Vietnamese partners to develop concrete cooperation models aligned with market demand and Vietnam’s energy development orientation.
For its part, Essar Group’s leadership expressed appreciation for Vietnam’s investment environment and market potential, reaffirming its desire to further expand long-term cooperation with Vietnamese partners in energy, oil and gas, and biofuels. Both sides agreed that, given Vietnam’s strong energy demand in the coming years, together with the global trend toward green energy transition and sustainable development, cooperation between Vietnamese enterprises and Essar holds significant potential for expansion in areas such as oil and gas, biofuels, energy infrastructure, low-emission energy, and technology solutions supporting energy transition.
The meeting contributed to promoting more substantive, effective, and long-term economic and energy cooperation between Vietnam and India.
