Vingroup Signs Strategic Memorandum with Uzbekistan for Large-Scale Investments

Tashkent, Uzbekistan (UzDaily.com) — Vingroup Corporation announced the signing of a Memorandum of Understanding (MOU) with the Ministry of Investments, Industry and Trade of Uzbekistan, aimed at promoting cooperation and implementing multi-sector projects in the country.

The agreement opens long-term investment opportunities for the Vietnamese corporation in Central Asia and strengthens economic ties between Vietnam and Uzbekistan. The signing ceremony was attended by Deputy Minister Ilzat Kasimov and Vingroup Vice-Chairman and CEO Nguyen Viet Quang.

Under the MOU, both parties agreed to jointly explore and develop strategic cooperation opportunities in urban development, sustainable transportation, tourism and recreational infrastructure, as well as other investment projects aligned with Uzbekistan’s development priorities.

Urban Development: Uzbekistan is prepared to allocate approximately 1,000 hectares of land in a priority area of Tashkent for a large integrated urban complex. The project will include residential areas, commercial and cultural zones, public facilities, and the creation of “Vietnam Town” — a modern district promoting cultural exchange and economic cooperation.

Sustainable Transport: Vingroup proposed implementing electric taxis and urban mobility services based on VinFast electric vehicles, including charging infrastructure, supporting the country’s green transition and improving transport services in major cities.

Tourism and Recreational Infrastructure: The parties are considering creating an integrated tourism and recreational center with hotels, entertainment facilities, golf courses, and related infrastructure to unlock the country’s tourism potential.

The Government of Uzbekistan will support Vingroup in legislation, land allocation, licensing, and coordination with local authorities. Vingroup will focus on preparing conceptual proposals, feasibility studies, and involving its ecosystem companies in project implementation.

Deputy Minister Ilzat Kasimov stated: “We welcome Vingroup’s interest in cooperation. The company is a strategic partner for jointly exploring and implementing investment initiatives aligned with Uzbekistan’s socio-economic priorities.”

Nguyen Viet Quang added: “Uzbekistan is a market with high potential. Through this MOU, Vingroup intends to explore cooperation opportunities and develop urban areas, sustainable transport, and projects that benefit local communities.”

The implementation of the agreement will create conditions for long-term economic growth, attract investments, and strengthen Uzbekistan’s position in Central Asia.