Mr. Kasimov Ilzat Ablaxatovich, Deputy Minister of Investment, Industry and Trade of the Republic of Uzbekistan (left), and Mr. Nguyen Viet Quang, Vice Chairman and CEO of Vingroup (right), at the signing ceremony of the Memorandum of Understanding (MOU).

Vingroup, Vietnam’s leading multi-sector corporation, has formalized a major strategic expansion into Central Asia by signing a Memorandum of Understanding (MOU) with the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan. The agreement, announced on December 25, 2025, sets the stage for large-scale investment projects spanning urban development, sustainable transportation, and international tourism.

The MOU was signed by Mr. Kasimov Ilzat Ablaxatovich, Uzbekistan’s Deputy Minister of Investment, Industry and Trade, and Mr. Nguyen Viet Quang, Vice Chairman and CEO of Vingroup.

A 1,000-Hectare "Vietnam Town" in Tashkent

The centerpiece of the cooperation is a massive urban development initiative in the capital city of Tashkent. The Uzbek government has indicated its readiness to allocate approximately 1,000 hectares of land in a prime location for Vingroup to develop an integrated urban complex.

The envisioned project, dubbed "Vietnam Town," will include:

• Residential Areas: Modern housing and living infrastructure.
• Commercial & Cultural Facilities: High-end retail and spaces designed to foster cultural exchange between the two nations.
• Public Infrastructure: Sustainable amenities designed to create a landmark for modern living in Central Asia.

Green Mobility: VinFast Electric Taxis

Vingroup also plans to introduce its green transportation ecosystem to Uzbekistan. The corporation has proposed the deployment of electric taxi and urban mobility services utilizing VinFast electric vehicles.

The proposal includes:

• Charging Infrastructure: A comprehensive system of charging stations and support services in major Uzbek cities.
• Emissions Reduction: A key goal of the project is to assist Uzbekistan in its green transition and improve urban air quality.

Tourism and Strategic Cooperation

Beyond urban planning and mobility, the two parties will explore the development of integrated tourism and recreational centers. These potential hubs may feature hotels, golf courses, and entertainment facilities intended to boost Uzbekistan's attractiveness to international travelers.

"Uzbekistan is a market with strong potential, supported by a clear development direction and an improving investment environment," stated Mr. Nguyen Viet Quang. "Vingroup aims to work alongside the Government of Uzbekistan in developing sectors that bring positive contributions to local communities".

Commitment from Both Sides

The Uzbek government has pledged full support for Vingroup, committing to provide necessary information on the legal framework, incentive policies, and assistance with land allocation and licensing. In return, Vingroup will mobilize its diverse ecosystem—including subsidiaries specialized in real estate, technology, and industry—to conduct feasibility studies and lead project implementation.

The move reinforces Vingroup's global ambitions and highlights the growing economic ties between Vietnam and Central Asia.