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Vietnamese conglomerate Vingroup has announced its ambitious plan to invest a substantial sum of US$28 million in setting up a subsidiary in the Democratic Republic of the Congo (DR Congo). This strategic move is aimed at spearheading real estate developments and electric vehicle initiatives in the region. Earlier in October of this year, Vingroup and the DR Congo government inked a memorandum of understanding. The agreement outlines a grand vision to undertake large-scale urban development projects. Moreover, it includes a phased approach to replace over 300,000 gasoline-powered vehicles with eco-friendly electric alternatives. Additionally, the plan encompasses the establishment of a comprehensive electric public transportation system, complete with the necessary charging infrastructure.
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