Vingroup to develop 6,300 ha urban complex project in Congo

Vietnam's leading private conglomerate Vingroup (HoSE: VIC) and the government of Kinshasa, the capital of the Democratic Republic of the Congo (DRC), will jointly explore and develop a 6,300-hectare riverfront mega-urban project.

This is included in an MoU the two sides reached recently to collaborate on research and development of large-scale urban projects and green mobility in Congo.

The agreement marks an important milestone in the cooperation between Vietnam and Congo, reflecting the shared vision of both sides toward sustainable development and improving quality of life for residents, Vingroup said in a release on Saturday.

The mega-urban project is located between the southern bank of the Congo River and the northern area of N’djili International Airport - a strategic site in the city’s expansion plan.

It is expected to include residential zones, villas, apartments, hospitals, schools, shopping centers, hotels, entertainment complexes, as well as a future administrative district for government ministries and agencies.

The development aims to create a modern new urban center that will serve Kinshasa’s residents while becoming a tourist destination and a symbol of the city’s progress. The city will allocate the land to Vingroup free of charge.

Under the MoU, both parties also agreed to expand cooperation into green transportation projects, including the development of electric bus and taxi systems and EV charging infrastructure operated by VinFast - the EV arm of Vingroup - and Green and Smart Mobility Joint Stock Company (GSM) - the operator of Xanh SM - Southeast Asia’s first all-electric ride-hailing service.

They will gradually convert more than 300,000 gasoline-powered vehicles to electric vehicles, and establish 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 EVs. The company will also explore the supply of VinFast electric buses and support the establishment and operation of electric Bus Rapid Transit (BRT) routes. The city has committed to providing land for charging infrastructure to accelerate the city’s green transition

Speaking at the signing ceremony, Daniel Bumba Lubaki, Governor of Kinshasa, emphasized: “We welcome Vingroup’s presence in Kinshasa. We have witnessed firsthand the remarkable achievements Vingroup has made in Vietnam and many other countries around the world.”

“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.”

Le Thi Thu Thuy, vice chairwoman of Vingroup, noted her belief that the collaboration will help “transform the city’s landscape and foster sustainable development” in both the capital and across DRC.

Kinshasa is the capital and largest city of Congo, with a population of approximately 17 million. It is the political, economic, and cultural center of the country and one of the fastest-growing cities in Africa.

Vingroup is Vietnam’s leading private multi-sector conglomerate, operating across five core pillars: industrials & technology, real estate & services, infrastructure, green energy, and social enterprises.

It has been ranked among the top 1,000 global companies by the U.S.-based Time magazine for its outstanding achievements in sustainability, innovation, and global impact.