Under the signed agreement, Vingroup and the Tamil Nadu state government, through its investment promotion agency Guidance, will jointly explore cooperation opportunities in key sectors including tourism, entertainment, high-end accommodation infrastructure, and green mobility.

Representatives from Vingroup and the Tamil Nadu state government exchange the memorandum of understanding. Photo: Vingroup.

Specifically, in tourism and entertainment, Vingroup plans to explore the development of a theme park complex, zoo, and safari park, modeled as a semi-wildlife zoo under the VinWonders brand. This project aims to enhance the competitiveness of the local tourism industry, attract international tourists, and create job opportunities for local residents. Concurrently, the conglomerate is also considering investments in 5-star resorts under the Vinpearl brand to cater to the high-end customer segment in the region.

Another key focus of the agreement is electrified mobility solutions. The two parties will collaborate to study the feasibility of implementing a large-scale electric taxi model, utilizing electric vehicles manufactured in India. The anticipated operator for this service is GSM, a green transport service company founded by Vingroup Chairman Pham Nhat Vuong.

For its part, the Tamil Nadu government pledges comprehensive support to Vingroup in identifying suitable locations, coordinating planning efforts, and streamlining licensing procedures. The local government will also consider investment incentive policies and prepare the necessary connecting infrastructure to facilitate the project's implementation.

Pham Sanh Chau, Chief Executive Officer of Vingroup Asia, stated that signing the MoU with Tamil Nadu reflects the conglomerate's long-term and consistent approach in the Indian market. "Vingroup aims to leverage its experience in deploying large-scale projects in infrastructure, services, and green transport to generate practical socio-economic value for the local community," Chau said.

Vingroup, currently Vietnam's leading multi-sector private economic conglomerate, operates in core areas such as industry - technology, commercial services, and green energy. Strengthening its presence in India is part of the conglomerate's international expansion strategy, with this South Asian nation identified as one of its top key markets.

This latest agreement builds on Vingroup's existing engagement in India. Prior to this, Vingroup signed a similar MoU with Telangana state to explore multi-sector investment opportunities. Concurrently, VinFast is accelerating the construction of its factory and developing its distribution network in India. This series of activities underscores the Vietnamese enterprise's methodical and long-term investment roadmap in the South Asian market.

Thanh Thu