Vietnam today invited the Indian businessmen to invest in that country. Addressing the Indian captains of the industry in New Delhi today, the visiting Vietnam President Truong Tan Sang said that there is a genuine environment for investment there.He also assured of early implementation of Tata Steel’s five billion US Dollars project in Ha Tinh province which is pending since 2008.

AIR correspondent reports that the project requires about 4,000 acres of land. One major issue is the re-settlement cost.The project is to be set up by a joint venture in which Tata Steel holds 65 per cent stake. Vietnam Steel Corporation holds 30 per cent stake and the balance is with Vietnam Cement Industries Corporation. This is one of the largest investments by any Indian company abroad.In May this year, Vietnamese Prime Minister Nguyen Tan Dung too had given an assurance to implement the project when Finance Minister Pranab Mukherjee had called on him during his visit to the country.Mr.Mukherjee had asked Dung to ensure that a level-playing field is provided to Tata Steel for its 4.5 million tonnes

project and that there is no discrimination against Indian investment.