A new Rust project.
This template comes with a devcontainer.json file, which references a prebuilt development container that should have all the necessary tools for developing in Rust. Please make use of this. Install the "Dev Containers" extension in VS Code and you should be prompted to reopen the project in the container. This will save you the headache of having to install things yourself, and will enforce tool versions across different developer machines.
In your dev container, run cargo init for a binary project or cargo init --lib for a library project.
The Rust documentation and a getting-started guide can be found here.