Unveiling Vingroup’s Bold New Venture in Africa

Having achieved its goal of entering the U.S. and other global markets, VinFast aims to concentrate its sales efforts on markets with distinct advantages. Chairman Vuong stated that international sales figures are expected to show significant growth from 2026 onward, eventually becoming the primary revenue source.

Following its expansion into India and Indonesia, Vingroup recently signed a Memorandum of Understanding (MoU) to enter another high-potential market: the Democratic Republic of the Congo (DRC). With its large population and dynamic economy, the DRC offers favorable conditions for Vingroup’s investment and growth.

An Ideal Foundation for Clean Energy and Electric Vehicles

The Kinshasa project, formalized through an MoU signed on October 25, 2025, with the DRC capital’s authorities, marks a strategic move by Vingroup to enter this market. The project focuses on green transportation, aiming to replace over 300,000 gasoline-powered vehicles with VinFast electric vehicles (EVs), develop electric bus rapid transit (BRT) systems, and establish charging infrastructure operated by VinFast and GSM.

VinFast will supply vehicles tailored to Kinshasa’s plan to phase out 300,000 fossil fuel vehicles, while also exploring the provision of electric buses and supporting the construction and operation of BRT lines. In return, Kinshasa will provide land for charging infrastructure, accelerating the city’s green transition.

This initiative aligns with the global shift toward sustainable transportation, addressing Kinshasa’s growing traffic congestion and pollution challenges.

At the DRC-Africa Business Forum, hosted by President Félix-Antoine Tshisekedi and the African Development Bank (AfDB), Congo outlined its ambition to integrate into the global battery, EV, and renewable energy value chains.

Leveraging its expertise in manufacturing and green mobility solutions, VinFast is well-positioned to lead the EV trend in the DRC. This partnership allows Vietnam to share its development experience while Congo capitalizes on its resource advantages and vast market potential.

Addressing Urbanization and Housing Challenges

Vingroup’s expansion into Africa includes not only VinFast but also Vinhomes, its real estate arm.

Over the past decade, the DRC has achieved notable economic growth, with GDP averaging 7-8% between 2010 and 2015. Despite global uncertainties, the DRC’s GDP grew by 6.5% in 2024. The World Bank describes it as “Africa’s resilient giant.”

As a rapidly developing market, the DRC attracts foreign investment, particularly as it diversifies its economy away from mining toward industrialization, infrastructure, and urbanization.

Kinshasa, with its rapid urbanization rate (4-5% annually) and population of 17 million, is one of Africa’s fastest-growing cities. Adding approximately 1 million residents annually, it is projected to surpass Lagos as Africa’s most populous city by 2030.

This population boom has created a massive demand for housing, infrastructure, and urban services. According to Congo’s Ministry of Construction, the country faces a housing shortage of nearly 4 million units, with Kinshasa accounting for over 54%. The city requires approximately 143,000 new homes annually, with a severe shortage in the middle-income housing segment.

This presents an opportune moment for Vingroup to extend its global footprint into real estate, bringing the successful Vinhomes model—which has developed over 10 large-scale urban areas in Vietnam—to Africa.

Under the agreement, Vingroup will develop a 6,300-hectare riverside megacity between the Congo River’s south bank and N’djili International Airport. The project will include residential units (villas and apartments), hospitals, schools, shopping centers, hotels, entertainment areas, and future government offices. Aimed at enhancing the quality of life for Kinshasa’s 17 million residents, the project will position the city as a tourism hub and a symbol of the DRC’s development. The city will provide land free of charge, enabling Vingroup to optimize costs and focus on quality.

At the signing ceremony, Kinshasa Governor Daniel Bumba Lubaki remarked, “We welcome Vingroup’s presence in Kinshasa. We have witnessed their impressive achievements in Vietnam and globally. With their international expertise in urban development, housing, and infrastructure, we are confident this partnership will transform Kinshasa into a modern, sustainable, and civilized city.”