NewsVoir
Chennai (Tamil Nadu) [India], February 4: Vingroup announced the signing of a Memorandum of Understanding with the Government of Tamil Nadu to establish a framework for cooperation in studying and developing strategic investment opportunities in the State. The agreement marks the next step in Vingroup's strategy to expand its multi-sector ecosystem in India in general and in Tamil Nadu in particular, reaffirming the Vietnamese enterprise's long-term investment commitment and well-defined approach in the South Asian market.
Under the MoU, Vingroup and the Government of Tamil Nadu, through Guidance, the State's investment promotion agency, will jointly explore cooperation opportunities in several key areas, including large-scale tourism and entertainment development, premium hospitality infrastructure, and electric mobility solutions, in line with the State's orientation toward sustainable development, green transport, and inclusive growth.
In the tourism and entertainment sector, Vingroup will study the development of an international-standard theme park, zoo, and safari complex featuring a semi-wildlife zoo model under the VinWonders brand, with the goal of enhancing Tamil Nadu's tourism competitiveness, attracting domestic and international visitors, and generating substantial direct and indirect employment for local communities.
In the premium hospitality services sector, the Group will consider the potential investment in a 5-star resort under the Vinpearl brand, contributing to the completion of a high-quality resort tourism ecosystem and meeting the growing demand of the State's premium travel segment.
In green mobility, the two sides will jointly study the potential deployment of electric mobility solutions, including a large-scale electric taxi model using Made-in-India electric vehicles operated by GSM, the electric taxi service company founded by Vingroup Chairman Mr. Pham Nhat Vuong.
Meanwhile, the Government of Tamil Nadu may support Vingroup in identifying suitable locations for each initiative, coordinating planning and project structuring activities, facilitating licensing procedures, considering incentives in accordance with current policies, and coordinating with relevant agencies to prepare the necessary connectivity infrastructure for future implementation.
Mr. Pham Sanh Chau, Chief Executive Officer of Vingroup Asia, stated, "The MOU with Tamil Nadu continues to demonstrate Vingroup's long-term and consistent approach in India, while reaffirming the State's role in our development strategy in the market. We would like to express our sincere appreciation to the Honorable Chief Minister of Tamil Nadu, together with the State's authorities, in particular Guidance, the Investment Promotion and Facilitation Agency, and SIPCOT, the State Industries Promotion Corporation of Tamil Nadu, for their continued support and close cooperation over the past period. Vingroup wishes to accompany localities that have a vision for sustainable development, leveraging experience in implementing large-scale projects in tourism, service infrastructure, and electric mobility, thereby creating practical socio-economic value for local communities."
Vingroup is Vietnam's largest private multi-sector corporation, operating across six core pillars: Industrials & Technology, Real Estate & Services, Infrastructure, Green Energy, Culture, and Social Enterprises, with the vision of "To create a better life for people". With its proven reputation, scale and capabilities, Vingroup is expanding globally, with India among its top priority markets.
Previously, Vingroup signed an MoU with the State of Telangana to explore multi sector investment opportunities. In parallel, global electric vehicle manufacturer VinFast, a member of the Group, is expanding its presence in India through the development of a comprehensive electric vehicle ecosystem. This series of activities and cooperation agreements reflects Vingroup's well-defined, consistent, and long-term investment strategy, while contributing to the promotion of Vietnam India economic cooperation and opening further room for large-scale investment projects in the coming period.
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