The agreement marks the beginning of a long-term cooperation plan between the two sides across multiple key sectors, while opening large-scale investment opportunities for the Vietnamese corporation in Central Asia, contributing to the strengthening of economic and investment ties between Vietnam and Uzbekistan.
Mr. Kasimov Ilzat Ablaxatovich, Deputy Minister of Investment, Industry and Trade of the Republic of Uzbekistan (left), and Mr. Nguyen Viet Quang, Vice Chairman and CEO of Vingroup (right), at the signing ceremony of the Memorandum of Understanding (MOU).
Under the MOU, the two parties agreed to jointly study and develop strategic cooperation opportunities in areas such as urban development, sustainable transportation, tourism and leisure infrastructure, as well as other investment projects aligned with Uzbekistan's development orientation, affirming the scale and capabilities of Vietnamese enterprises on the global economic map.
Specifically, in the area of urban development, Uzbekistan is ready to allocate approximately 1,000 hectares of land in a prime location of the capital Tashkent for Vingroup to study, propose, and invest in the development of a large-scale, integrated urban complex. The project would include residential areas, living infrastructure, commercial and cultural facilities, and public infrastructure facilities. The development is envisioned to form a "Vietnam Town", creating a modern and sustainable urban landmark while enhancing cultural exchange and economic cooperation between the two countries.
In the field of sustainable transportation, Vingroup has proposed studying the deployment of electric taxi and urban mobility services using VinFast electric vehicles in Uzbekistan, together with a charging infrastructure system and support services. The project is expected to contribute to the green transition, reduce emissions, and improve the quality of urban transportation services in major Uzbek cities.
In tourism and leisure infrastructure, the two sides will explore the potential development of integrated tourism and recreational center, including entertainment facilities, hotels, golf courses and related tourism infrastructure, aiming to unlock tourism potential and enhance Uzbekistan's attractiveness to international visitors.
In addition, this strategic cooperation also establishes a framework for the two parties to identify, assess, and select other potential investment projects that align with the development strategies and long-term priorities of each side.
On the Uzbek government's side, the Ministry of Investment, Industry and Trade committed to supporting Vingroup by providing information on the investment environment, legal framework, and incentive policies, as well as coordinating with relevant authorities and local governments in project preparation, including land allocation, licensing, and access to investment support mechanisms in accordance with legislation.
On Vingroup's side, the Group will propose conceptual proposals, technical expertise and investment plans, participate in feasibility studies and project structuring, and mobilize member companies within the Vingroup ecosystem to implement 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 holds a strategic position in Central Asia, with a growing economy and strong potential in urban development, infrastructure, tourism, and services. The Government of Uzbekistan is actively promoting reforms and attracting foreign investment to drive sustainable economic growth and international integration.
Vingroup is Vietnam's leading private multi-sector corporation, operating across six core pillars: Industrials & Technology, Real Estate & Services, Infrastructure, Green Energy, Culture, and Social Enterprises, with the vision "To create a better life for people". With its proven reputation, scale and capabilities, Vingroup is steadily expanding globally, contributing to elevate the global standing of Vietnamese enterprises.
Hashtag: #Vingroup
The issuer is solely responsible for the content of this announcement.
When it comes to home improvement, Australians are passionate about getting the most value for their money. But what that looks like in practice can vary dramatically dep…
Creating a comfortable outdoor area that adapts to changing weather conditions is an important consideration for many homeowners and businesses. Installing a Retractabl…
Access to dependable primary healthcare is essential for maintaining long-term wellbeing. Choosing a trusted GP Bundoora allows individuals and families to receive ongo…
Compulsory acquisition can come as a shock for landowners, particularly when notices arrive with limited explanation and strict timeframes. This article will explain wh…
The role of a support coordinator is often mentioned in NDIS conversations, but it isn’t always clearly understood. Many participants wonder what a support coordinator ac…
Motor car insurance premiums have skyrocketed by a staggering 42% since 2019, according to the Insurance Council of Australia. This dramatic increase leaves many Australi…
Severe tooth loss can affect far more than appearance. It can impact chewing ability, speech, facial structure, and overall confidence. For individuals missing most or …
A real estate agent and a vendor advocate both work in property transactions, but they play very different roles and have different loyalties.
Real Estate Agent
Who the…
Access to dependable primary healthcare is essential for maintaining long-term wellbeing. Choosing a trusted GP Bundoora allows individuals and families to receive ongoing medical support close to h...
The role of a support coordinator is often mentioned in NDIS conversations, but it isn’t always clearly understood. Many participants wonder what a support coordinator actually does day to day, and ho...
Severe tooth loss can affect far more than appearance. It can impact chewing ability, speech, facial structure, and overall confidence. For individuals missing most or all of their teeth, All on 4 D...
Hashtag.net.au
