Congo President and Prime Minister discuss cooperation with Vingroup Vice President

VTV.vn - President Felix Tshisekedi and Prime Minister Judith Suminwa received Vingroup Vice President Le Thi Thu Thuy and her delegation in the capital Kinshasa.

The Congolese government has confidence in Vingroup 's strengths.

Recently in Congo, the Kinshasa Capital Authority (Democratic Republic of Congo) and Vingroup Corporation signed a Memorandum of Understanding (MoU) to cooperate in researching and developing large-scale urban projects and green transportation in Congo.

The event received significant attention from the Congolese media. Within the framework of the event, the country's press also simultaneously reported that President Félix Tshisekedi and Prime Minister Judith Suminwa met with Ms. Le Thi Thu Thuy, Vice President of Vingroup, and her delegation in Kinshasa. "The meeting marks an important step in the cooperative relationship between the Congolese government and one of Vietnam's leading private economic groups, opening up prospects for implementing key projects under the Suminwa government's Action Program ," the media emphasized.

Mr. Félix Tshisekedi - President of the Democratic Republic of Congo (second from the right), Ms. Judith Suminwa Tuluka, Prime Minister of the Democratic Republic of Congo (far right), and Ms. Le Thi Thu Thuy, Vice President of Vingroup (second from the left) during a cooperation exchange in Congo (Image source: https://presidence.cd/)

During the meeting, Prime Minister Suminwa particularly appreciated Vingroup's comprehensive capabilities, sustainable development vision, and international experience, and expressed strong support for the cooperation proposals put forward by the group. She affirmed that the Congolese government always values ​​working alongside the private sector and international investors to build mutually beneficial cooperation models, contributing to improving the quality of life for the Congolese people.

According to the agreement between the two parties, Vingroup will develop a mega-city spanning over 6,300 hectares on the southern bank of the Congo River – considered the "expanding heart" of the capital Kinshasa. The project includes residential areas, villas, high-rise buildings, hospitals, schools, shopping centers, entertainment areas, and a national administrative complex – a "city within a city," a new symbol of modern African urban development.

Notably, the Kinshasa government granted Vingroup land free of charge, as a way of expressing confidence in the capabilities and reputation of the Vietnamese corporation. The goal of the cooperation is not simply to develop real estate, but also to create a new standard of living, with a spirit of sustainable development, centered on people – a strength that Vingroup has successfully implemented in Vietnam.

Within that ecosystem, VinFast will play a key role in helping Kinshasa transition to green transportation. According to the plan, VinFast will provide suitable vehicles for Kinshasa's plan to gradually replace over 300,000 fossil fuel vehicles with electric vehicles, while also researching and supplying VinFast electric buses and supporting the construction and operation of Bus Rapid Transit (BRT) lines.

The city has also committed to allocating significant land for the deployment of a modern charging station system – the foundation for the first zero-emission transportation network in Central Africa.

A milestone affirming the role of Vietnamese businesses.

Regarding Vingroup's foray into Africa, experts believe this is a strategic move by the Vietnamese company, as Congo is considered a "golden destination" for foreign investment with the greatest growth potential in the region.

Three decades ago, the Democratic Republic of Congo (DRC) was almost forgotten on the international investment map. The 1990s saw FDI flows nearly freeze, or even go into negative territory. Yet, as it entered the 21st century, Congo wrote a spectacular story of revival.

Congo is being hailed as a "golden destination" for foreign investment, with the greatest growth potential in the region (Source: Xinhua).

From $1.81 billion in 2007, FDI inflows into Congo nearly doubled to $2.94 billion in 2010, and reached $3.31 billion in 2012. To date, even amidst global economic volatility, Congo continues to attract strong foreign investment, maintaining its position as the second largest recipient of FDI in Central Africa and among the top 10 in Africa, affirming its stable and sustainable attractiveness.

Central African countries are renowned as the world's mineral treasure trove, with cobalt, copper, coltan, diamonds, and gold – strategic raw materials for every industry of the 21st century, from battery and semiconductor chip manufacturing to renewable energy, electric vehicles, and artificial intelligence. However, beyond mining, investors are also expanding into telecommunications, renewable energy, consumer goods manufacturing, construction, and high-tech agriculture.

In terms of economic growth, Congo is considered a bright spot in the region. The country is ranked as the continent's third-fastest-growing economy, with an impressive rate of 8.9% in 2022 and maintaining a level of 7.8% in 2023.

Since 2022, international financial markets have begun to clearly recognize Congo's progress. Standard & Poor's upgraded the country's rating from "CCC+, positive outlook" to "B-, stable outlook"; Moody's upgraded it from "B3, stable outlook" to "B3, positive outlook".

Another positive point, according to observers, is that the Congolese government under President Félix Tshisekedi has accelerated a comprehensive reform program, focusing on macroeconomic stability, transparent public finance management, and improving the legal framework for the private sector.

Congo's transformation has also led experts to express high expectations for a partnership with Vingroup. With the presence of a leading private corporation like Vingroup, Congo will not only attract more foreign investment but also a partner with a development philosophy focused on people and a sustainable future.

International experts also expressed confidence that the modern urban projects, green infrastructure, and electrified transportation initiated by Vingroup will not only contribute to changing the face of the capital Kinshasa but also contribute to the long-term growth foundation of this Central African country.

For Vingroup in particular, this strategic move into Congo is seen as a new milestone in the Vietnamese brand's global expansion journey, while also affirming the increasingly important role of Vietnamese businesses on the international cooperation map.

Source: https://vtv.vn/tong-thong-va-thu-tuong-congo-ban-chuyen-hop-tac-voipho-chu-tich-vingroup-100251027153905666.htm