CHENNAI — Việt Nam’s Vingroup has signed a Memorandum of Understanding with the government of India’s Tamil Nadu state to explore investment opportunities in tourism, hospitality and electric mobility, the conglomerate said.

Under the agreement, Vingroup and the state government, through its investment promotion agency Guidance, will study potential cooperation in large-scale tourism and entertainment projects, premium hospitality infrastructure and green transport solutions, in line with Tamil Nadu’s sustainable development goals.

In tourism, Vingroup will assess the feasibility of developing an international-standard theme park, zoo and safari complex under its VinWonders brand, aimed at boosting the state’s tourism competitiveness and creating jobs.

The group is also considering investment in a five-star resort under its Vinpearl brand to support the development of a high-end resort tourism ecosystem and meet growing demand in the premium travel segment.

In electric mobility, the two sides will explore the deployment of electric transport solutions, including a large-scale electric taxi model operated by GSM, an electric taxi company founded by Vingroup chairman Phạm Nhật Vượng, using electric vehicles manufactured in India.

Tamil Nadu’s government may support the projects by identifying suitable locations, facilitating licensing procedures, considering incentives in line with current policies and coordinating the development of necessary infrastructure, the statement said.

The MoU marks the next step in Vingroup’s strategy to expand its multi-sector presence in India and underscores its long-term investment plans in the South Asian market.  -- VNS