Hanoi: Vietnam’s largest conglomerate Vingroup on Tuesday signed a memorandum of understanding with Telangana’s state government for a proposed $3 billion investment to establish a multi-sector ecosystem in the southern Indian state.

The projects would cover smart urban development, electric mobility, healthcare, education, tourism and renewable energy across approximately 2,500 hectares (6,177 acres), the company said in a statement.

Telangana’s government will facilitate the allocation of land, the fast-tracking of approvals and coordinate planning, according to the statement.

“We are committed to … positioning Telangana as the gateway for Vietnamese and South-East Asian investment into India’s fastest-growing economy,” said Sanjay Kumar, Special Chief Secretary to the Government of

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