Vietnam’s largest private conglomerate, Vingroup, on Tuesday, announced that it has signed a Memorandum of Understanding (MoU) with the Government of Telangana for a proposed investment of $3 billion to develop a multi-sector ecosystem in the southern Indian state.

The agreement was signed at the Telangana Rising Global Summit, and the investment will be implemented in phases. The MoU strengthens economic ties between India and Vietnam and expands Vingroup’s footprint in India, where VinFast already operates a manufacturing facility in Tamil Nadu and last week announced a $500 million expansion of that plant.

Under the MoU, Vingroup and the Telangana government will explore strategic opportunities across smart urban development, electric mobility, healthcare, education, tourism, renewabl

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