HANOI, Vietnam - Vietnam's largest conglomerate Vingroup is venturing into international markets amid a slowdown in domestic operations. The company plans around two dozen initiatives across no fewer than 15 nations, including a Vietnam Town in Uzbekistan, smart cities in India, and a riverfront project in Congo.

Long reliant on earnings from its core real estate operations to support bets in autos and tech, Vingroup now faces a softening property sector at home while its VinFast electric vehicle unit continues to post losses.

With fewer large-scale opportunities available domestically, the privately held giant is turning abroad to finance its push into electric vehicles, artificial intelligence, and robotics - sectors viewed as key to Vietnam's aim of emerging as Asia's next major economic success story.

In Uzbekistan, the firm agreed last December to develop a Vietnam Town in the capital Tashkent, an ancient Silk Road hub. The project would mirror its Vietnamese developments by mixing residences, retail centers, schools, medical facilities, and charging points for electric cars.

Additional efforts range from tourism sites such as a zoo in India and smart-city builds in Africa to manufacturing motors and components for robotics in Germany.

Following China's example, Vietnam seeks to nurture globally competitive businesses now that its export-driven growth model faces significant pressure, as noted by Communist Party General Secretary To Lam.

Expansion has accelerated since U.S. tariffs highlighted the dangers of overdependence on limited export markets, with America taking more than 30 percent of Vietnam's shipments.

Central Asia has emerged as a priority area. Trade with Uzbekistan hit 202 million dollars in 2024, a 26.5 percent rise from the prior year, while ties with Kazakhstan were upgraded to a strategic partnership in 2025.

Since easing state controls in 2017, Uzbekistan has welcomed private and foreign investment. Regional nations have also diversified trade away from Russia after its Ukraine invasion, according to Bhavna Dave of SOAS University of London.

Chinese capital has risen, yet Tashkent seeks broader Asian links, viewing the region as the world's most dynamic economic zone, she added.

Trade between India and Vietnam has tripled to a record 16.4 billion dollars in 2025 from 5.4 billion dollars in 2016. Investment flows have grown in energy, technology, and agriculture including sugar and coffee.

Vingroup's electric vehicle plant in India's Tamil Nadu state anchors its Indian presence. It began an electric taxi service in New Delhi in June and has agreed with state authorities on smart cities, hospitals, schools, theme parks, and zoos.

The company is also constructing an EV factory in Indonesia and runs an electric taxi service in the Philippines.

In Africa, Vingroup has contracted with the Democratic Republic of Congo for a 6,300-hectare riverfront development between the Congo River and Kinshasa's airport. VinFast intends to provide electric vehicles and possibly buses as the country aims to replace over 300,000 fossil-fuel units with EVs.

Vingroup and Ghana's Jospong Group are supplying VinFast cars, scooters, bikes, and buses across West Africa.

Ghana offers a strong opportunity for VinFast given its eight-year EV tax incentives, population exceeding 35 million, and sizable vehicle market with limited Chinese competition, noted Tom Courtright of the Africa E-Mobility Alliance.

Pressure has increased as profits from Vinhomes, the property arm, have declined. Home prices in major cities have risen sharply with few affordable options, while construction outside urban centers has outpaced demand, leaving many units vacant, said Le Hong Hiep of the ISEAS-Yusof Ishak Institute.

In June, Vinhomes announced it would halt expansion of its domestic land holdings and concentrate on completing existing projects.

Vingroup did not reply to comment requests by publication time.

VinFast recorded a 3.87 billion dollar net loss in 2025. Although it delivered a record 196,919 vehicles - more than double the prior year - costs reached 5.13 billion dollars per a U.S. Securities and Exchange Commission filing.

The filing showed a 236 million dollar write-down on its delayed North Carolina plant.

After entering the U.S. market in 2023 and listing on Nasdaq, weak Western sales led the firm to refocus on emerging Asian markets where motorcycle owners are shifting to cars.

Vingroup is betting its Vietnam success model can transfer to other developing economies at comparable growth stages.

Founder Pham Nhat Vuong began with instant noodles in Ukraine in the 1990s before launching major housing projects in Vietnam, later adding hospitals, schools, and malls that created demand for additional services including EVs.

Obstacles remain, however. While the DRC's 124 million population attracts investors, few foreign firms operate there due to infrastructure and economic challenges, Courtright observed. Ride-hailing stays limited outside major hubs because it requires broad smartphone access and sufficient incomes.

Large projects like the proposed Congo River development often result in agreements that fail to advance.