Vingroup has signed a Memorandum of Understanding (MoU) with the Government of Telangana, marking a significant step in its global expansion. Announced at the Telangana Rising Global Summit, the agreement outlines a phased investment of US$3 billion to develop a multi-sector ecosystem across approximately 2,500 hectares in Telangana. This collaboration aims to advance the state's socioeconomic development through strategic opportunities in smart urban development, electric mobility, healthcare, education, tourism, and renewable energy.
The MoU includes plans for India's first large-scale electric taxi fleet using VinFast vehicles, alongside a mobility-as-a-service platform. Vingroup also intends to establish the Vinhomes Smart City, a mega urban area designed for 200,000 residents, creating around 10,000 jobs. The development will feature sustainable urban planning and international-standard amenities.
In addition, Vingroup proposes to develop essential social infrastructure, including Vinschools and Vinmec hospitals, on a 70-hectare site. The tourism sector will see an integrated complex with a theme park, zoo, and safari, whilst renewable energy plans include a 500 MW solar farm.
Telangana's government has committed to facilitating land allocation and supporting project implementation. Chief Minister A Revanth Reddy highlighted the investment as a "massive vote of confidence" in Telangana's vision for sustainable urban development.
Vingroup's CEO for Asia, Pham Sanh Chau, expressed optimism about the partnership, citing the group's expertise in large-scale projects as a catalyst for sustainable development in Telangana. This initiative strengthens the economic ties between Vietnam and India, positioning Telangana as a gateway for Vietnamese investment.
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