HÀ NỘI — Vingroup on Thursday announced the signing of a Memorandum of Understanding (MOU) with the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan to promote cooperation and implement multi-sector projects in the central Asian country.

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 Viet Nam and Uzbekistan.

Under the MOU, the two parties agreed to jointly study and develop strategic cooperation opportunities in areas including urban development, sustainable transportation, tourism and leisure infrastructure, as well as other investment projects aligned with Uzbekistan’s development orientation, confirming the scale and capabilities of Vietnamese enterprises on the global economic map.

Specifically, in urban development, Uzbekistan is ready to allocate approximately 1,000 hectares of land in a prime location of its capital Tashkent for Vingroup to explore developing a large-scale, integrated urban complex. 

The project would include residential areas, living infrastructure and commercial, cultural and public infrastructure facilities. 

Under the company's current vision, the development would form a 'Vietnam Town', creating a modern and sustainable urban landmark while enhancing cultural exchange and economic cooperation between the two countries.  — VNS