Vingroup has signed an MOU with the Ministry of Investment, Industry and Trade of Uzbekistan to work together on different business projects in the country. This agreement starts a long-term partnership between both sides across several important sectors.
The deal also opens new large investment opportunities for Vingroup in Central Asia. It will help strengthen business and investment relations between Vietnam and Uzbekistan.
Under this agreement, both sides will explore and develop partnership opportunities in areas like city development, eco-friendly transport, tourism, leisure facilities, and other projects that match Uzbekistan’s development plans. This also highlights the growing global presence of Vietnamese companies.
For city development, Uzbekistan has agreed to provide around 1,000 hectares of land in a prime area of its capital, Tashkent. Vingroup will study the land and may invest in building a large, modern urban project there.
The proposed project will include homes, daily living facilities, shopping areas, cultural spaces, and public infrastructure. It is planned to be called “Vietnam Town” and aims to become a modern city landmark while strengthening cultural and economic ties between Vietnam and Uzbekistan.
Vingroup plans to study launching electric taxi and city transport services in Uzbekistan using VinFast electric vehicles. This will include setting up charging stations and support services. The project aims to support green transport, reduce pollution, and improve city travel in major Uzbek cities.
In the tourism sector, both sides will explore building large tourism and recreation centres. These may include entertainment zones, hotels, golf courses, and other tourist facilities to boost tourism and attract more international visitors to Uzbekistan.
The partnership also creates a system for both sides to find and select other future investment projects that match their long-term development goals.
The Uzbek Ministry of Investment, Industry and Trade will support Vingroup by sharing information about investment rules, legal systems, and incentive policies. It will also help with land allotment, approvals, and other government procedures.
Vingroup will prepare project ideas, technical plans, and investment proposals. It will also involve its group companies to carry out suitable projects in Uzbekistan.
Mr. Kasimov Ilzat Ablaxatovich, Deputy Minister of Investment, Industry and Trade of Uzbekistan, stated: “We welcome Vingroup’s interest and commitment to cooperation in Uzbekistan. With its experience in urban development, sustainable transportation, and infrastructure projects, Vingroup is considered a strategic partner to jointly explore and implement investment initiatives aligned with Uzbekistan’s socio-economic development priorities in the coming period.”
Mr. Nguyen Viet Quang, Vice Chairman and CEO of Vingroup, shared: “Uzbekistan is a market with strong potential, supported by a clear development direction and an improving investment environment. Through this Memorandum of Understanding, Vingroup aims to gradually explore suitable cooperation opportunities and work alongside the Government of Uzbekistan in developing urban areas, sustainable transportation, and sectors that bring positive contributions to local communities.”
Uzbekistan is an important country in Central Asia with a growing economy. It has strong potential in city development, infrastructure, tourism, and service industries.
The government is actively making reforms and encouraging foreign investments to support long-term economic growth and increase its global connections.
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