Vingroup zooms into Africa with $28M investment in DR Congo

By Trong Hieu December 8, 2025 | 03:00 pm PT

Vietnam’s biggest conglomerate Vingroup has earmarked US$28 million to set up a subsidiary in the Democratic Republic of the Congo for property development and distributing electric vehicles.

It said in a recent statement that the subsidiary, Vingroup DRC Holdings SARL, would be located in the capital Kinshasa.

In October the company owned by Vietnam’s richest man Pham Nhat Vuong signed a memorandum of understanding with the Congolese government to develop a riverside urban project spanning 6,300 hectares.

A factory of VinFast, a Vingroup company, in Hai Phong City, Vietnam. Photo courtesy of VinFast

It will also distribute more than 300,000 electric vehicles, establishing an electric bus system, and developing charging infrastructure.

The urban area will have housing including villas, hospitals, schools, shopping centers, hotels, entertainment facilities, and areas designated for government and ministerial offices. The government has allocated the land free of charge for the project.

Vingroup already has subsidiaries in Singapore, the U.S., the Netherlands, Canada, Indonesia, Thailand, Kazakhstan, and India.

Its market cap is around $41.7 billion and its chairman Vuong is the world’s 91st richest person with a net worth of $25.5 billion, according to U.S. magazine Forbes.