Why is this important
Agreements with major international corporations are expanding the flow of investments into the Uzbek economy. The development of urban planning and tourism projects contributes to the creation of new jobs and improves the quality of the urban environment. Strengthening economic ties with Vietnam opens up new markets and technological opportunities for Uzbekistan.
What happened
- A Memorandum of Understanding was signed in Hanoi between the Ministry of Investments, Industry and Trade of Uzbekistan and the “Vingroup” corporation.
- The parties agreed to develop strategic forms of interaction related to the socio-economic development of Uzbekistan.
Numbers and facts
- The document is aimed at implementing investment projects in priority sectors of the economy and strengthening cooperation between the countries.
- The signed memorandum also provides for projects in the field of tourism and recreational infrastructure.
- “Vingroup” expressed its readiness to cooperate in the field of urban planning and explore opportunities for joint work in the field of “green” transformation, sustainable transport, and modern services.
Context
- The agreement increases the interest of international business in participating in large projects in Uzbekistan.
- The implementation of joint initiatives can accelerate the modernization of cities and the development of tourism.
- Strategic cooperation creates the basis for Vietnam’s long-term economic presence in the country.
