Vingroup spends 28 million USD to establish a company in Congo, carrying out a 6,300ha project

(Dan Tri) - Vingroup plans to establish a subsidiary with capital of 28 million USD in Congo. The goal is to research the market and seek investment opportunities in real estate, electric cars...

The Board of Directors of Vingroup Corporation (stock code: VIC) has just issued a resolution approving the capital contribution to establish a subsidiary in the Democratic Republic of Congo.

Accordingly, the subsidiary is expected to be named Vingroup DRC Holding SARL, headquartered in Gombe district, Kinshasa capital. Vingroup plans to invest 28 million USD, the capital contribution will be carried out according to the investment progress registered with the competent State agency of Vietnam.

Billionaire Pham Nhat Vuong, Chairman of Vingroup Corporation (Photo: Bloomberg).

The expected operational objective is to research the market and seek investment opportunities in the real estate business, electric cars and other business fields in Vingroup's ecosystem.

Previously, on October 25, the Kinshasa City government (Congo) and Vingroup signed a memorandum of understanding on cooperation in research and development of large-scale urban projects and green transportation.

According to the memorandum of understanding, the two sides will coordinate to research and develop a riverside metropolis project on a land area of ​​about 6,300 hectares, converting more than 300,000 gasoline vehicles to electric vehicles; establishing an electric bus system and charging station infrastructure.

The mega-urban project is strategically located in the capital's expansion plan, located between the south bank of the Congo River and north of N'djli International Airport. The large-scale, complex project includes houses, villas, apartments, hospitals, schools, shopping centers, hotels, entertainment areas, and key locations of future government agencies and ministries.

The project aims to develop a modern urban center that contributes to improving the quality of life, changing the urban landscape, and becoming a tourist destination as well as a new development symbol of Kinshasa. The city will allocate land for the project to Vingroup free of charge.

In addition to real estate, the two sides also agreed to expand cooperation in green transport projects, including the development of electric bus systems, electric taxis and charging station infrastructure operated by VinFast and GSM.

Source: https://dantri.com.vn/kinh-doanh/vingroup-chi-28-trieu-usd-lap-cong-ty-tai-congo-lam-du-an-6300ha-20251208103804140.htm