In order to create a new VPC network, select the VPC Networks tab, select Cloud Account and Region and click on Create VPC Networks. Select your desired Tenancy and add a CIDR to your VPC.
Dedicated Tenancy: You can run instances in your VPC on single-tenant, dedicated hardware. This ensures that instances launched in this VPC are dedicated tenancy instances, regardless of the tenancy attribute specified at the launch.
Default Tenancy: Default Tenancy ensures that the instances launched in the VPC use the tenancy attribute that is specified at launch.
Note: It is suggested that you add a Name Tag as it makes it easier to find the resource.