Lynas secures Vietnam metal processing deal with LS Eco Energy
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Vingroup broadens Africa footprint with $28 million DRC move
Vingroup is expanding its overseas footprint with a new investment aimed at testing opportunities in Africa’s emerging markets.
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| Vingroup’s VinFast manufacturing complex in Haiphong |
On December 6, Vingroup announced plans to invest $28 million to establish a wholly owned subsidiary in the Democratic Republic of Congo (DRC), aiming to explore opportunities in real estate, electric vehicles, and other potential business sectors. The new entity, named Vingroup DRC Holdings SARL, will be headquartered in Kinshasa and will focus initially on market research and identifying investment prospects.
The announcement follows an MoU signed in October between Vingroup and the DRC government to study and construct an urban riverside mega-development covering approximately 6,300 hectares.
The proposal includes housing, villas, hospitals, schools, commercial centres, hotels, recreational complexes, and designated zones for future government offices and ministries. It also covers the transition of more than 300,000 petrol vehicles to electric models, alongside the deployment of electric buses and charging infrastructure.
The Congolese government has allocated land at no cost to facilitate its development.
Vingroup already operates overseas subsidiaries in Singapore, the United States, the Netherlands, Canada, Indonesia, Thailand, and Kazakhstan.
The group remains the largest listed company by market capitalisation in Vietnam, currently valued at around VND1.1 quadrillion (approximately $44 billion).
Strong gains in Vingroup shares, up more than 600 per cent since the beginning of the year, have driven Pham Nhat Vuong’s net worth to $25.5 billion, ranking him 91st globally.
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