The two parties signed the agreement on 10/4 in Mumbai. Under the agreement, Vingroup, together with the Mumbai Metropolitan Region Development Authority (MMRDA) and Maharashtra’s Department of Industries, will explore large-scale investment opportunities within the Mumbai metropolitan region and across the entire state. Key focus areas include urban development, green transportation, renewable energy, and social infrastructure.

The signing ceremony was attended by Le Quang Bien (fourth from left), Consul General of Vietnam in Mumbai, and leaders from the Mumbai Metropolitan Region Development Authority, the Department of Industries, and other departments of Maharashtra state. Photo: Vingroup.

In urban development, Vingroup is exploring the implementation of integrated urban areas spanning approximately 1,000 hectares. With an estimated investment of 5 billion USD, the project is expected to include residential, commercial, educational, and medical zones, along with synchronized amenities. The enterprise aims to establish new development centers near Mumbai, including the potential Mumbai 3,0 region, to modernize the local urban infrastructure.

The green transportation segment accounts for approximately 1,5 billion USD of the total projected investment. Through its company GSM India, the group proposes to deploy a taxi fleet of 60,000 electric vehicles, integrating a smart mobility service platform. This plan will promote green transportation in Maharashtra and is expected to create tens of thousands of jobs in the next three to five years.

Additionally, VinEnergo will seek investment opportunities in large-scale renewable energy, aligning with India’s net-zero emissions target. Other member units, such as Vinschool, Vinmec, and Vinpearl, will also research social infrastructure projects in education, healthcare, and tourism services to complete the multi-sector ecosystem in the locality.

Pham Sanh Chau (far left), CEO of Vingroup Asia, and Devendra Fadnavis, Chief Minister of Maharashtra state, India, at the signing ceremony. Photo: Vingroup.

Leaders from Maharashtra state and the MMRDA committed to supporting Vingroup in identifying land, planning projects, and completing legal procedures. The state will provide connecting infrastructure and consider incentive policies to facilitate the implementation process.

Pham Sanh Chau, CEO of Vingroup Asia, stated that this agreement further solidifies the group’s long-term and systematic strategy in India. Following investments in Telangana and Tamil Nadu states, the enterprise is gradually expanding its presence in key economic centers with the goal of building a synchronized ecosystem.

Devendra Fadnavis, Chief Minister of Maharashtra state, praised the scale of the investment, affirming that the project will significantly enhance urban infrastructure and promote sustainable transportation for the state.

Maharashtra is currently India’s largest economy, contributing approximately 14% of the national GDP with a population exceeding 130 million people.

Thanh Thu