Vingroup to develop real estate and electric mobility in DRC

The Government of Kinshasa, the capital of the Democratic Republic of the Congo (DRC), and the Vietnamese conglomerate Vingroup have signed a Memorandum of Understanding to join forces on research and development of large-scale urban projects and green mobility. Ambitions include a riverfront real estate project, and gradually electrifying more than 30,000 vehicles, as well as establishing a comprehensive electric bus network and charging infrastructure.

VinFast will provide suitable vehicle models to support Kinshasa’s plan to gradually replace more than 300,000 fossil-fueled vehicles with electric vehicles. The Vietnamese automotive giant manufactures electric motorbikes and scooters, both with and without battery swapping, electric cars, electric buses and ride-hailing services. The company says it will be exploring the supply of VinFast electric buses and support the establishment and operation of electric Bus Rapid Transit (BRT) routes. The city has made commitments to provide land for charging infrastructure to support the city’s green transition.

The proposed collaboration in Kinshasa, DRC, follows Vingroup’s major real estate projects across Vietnam, as well as leveraging its palette of electric vehicles, which includes electric cars, buses and a diverse array of electric two-wheelers, including battery-swapping vehicles. The Vietnamese multi-sector conglomerate operates across five core pillars of industrials & technology, real estate & services, infrastructure, green energy, and social enterprises.

In Kinshasa, DRC’s capital and home to 17 million people, the Vingroup real estate endeavour will cover approximately 6,300 hectares in an area between the southern bank of the Congo River and the northern area of N’djili International Airport. Once development plans have been devised, these are expected to include residential zones, villas, apartments, hospitals, schools, shopping centres, hotels, entertainment complexes, as well as a future administrative district for government ministries and agencies, according to VinGroup.

The aim is to create a modern new urban centre that will not only serve Kinshasa’s residents but will also become a tourist destination and “a symbol of the city’s progress,” according to VinGroup. The city is allocating the land to Vingroup free of charge. The two parties see the project as a strategic site in the city’s expansion plan. DRC is home to some of the world’s most important mineral resources for electric vehicles, communication and military technology. The country has been subject to devastating proxy wars over access to its resources.

Daniel Bumba Lubaki, Governor of Kinshasa, emphasised: “We welcome Vingroup’s presence in Kinshasa. With its extensive international experience in urban development, housing, and infrastructure, we believe this partnership will mark a significant milestone — paving the way for a more modern, sustainable, and vibrant urban future for the people of Kinshasa.”

VinGroup’s approach has seen it forge numerous international partnerships. Just a few months ago, the Vietnamese conglomerate signed a deal in the Philippines with MERALCO, the Philippines’ largest power distribution company. Late last year, VinFast announced new investment from Vietnamese sources, as well as a new investment deal lined up with a group of investors from Abu Dhabi. In addition, another MoU was signed with a partner in Mexico, who aims to procure a fleet of EVs and build a charging network with VinFast.

vingroup.net