HANOI / KINSHASA (Market Insider) — Vietnam’s largest private conglomerate, Vingroup, has signed a landmark deal to develop a 6,300-hectare green megacity along the Congo River in Kinshasa, the capital of the Democratic Republic of Congo — marking one of the most ambitious urban development projects by an Asian company in Africa.
The memorandum of understanding, signed on October 25, outlines a plan to build a modern riverside city south of the Congo River and near N’djili International Airport. The sprawling project will feature residential neighborhoods, villas, hospitals, schools, shopping malls, hotels, entertainment areas, and future government offices — essentially a “city within a city.”
But the project goes beyond real estate. Vingroup and Kinshasa authorities also aim to electrify the city’s transport system, replacing over 300,000 gasoline vehicles with electric ones and building an extensive network of electric buses, taxis, and charging stations. The initiative will be implemented in partnership with VinFast — Vingroup’s EV arm — and GSM (Green Smart Mobility), both central to Vietnam’s national clean-energy drive.
Kinshasa’s government has pledged to allocate land for free to facilitate infrastructure development and charging networks, positioning the project as a key driver of the city’s green transition.
“This collaboration marks a turning point toward a modern and sustainable Kinshasa,” said Governor Daniel Bumba Lubaki, praising Vingroup’s track record in urban planning and technology innovation in Vietnam and abroad.
Le Thi Thu Thuy, Vice Chairwoman of Vingroup, said the megacity will “accelerate sustainable growth, improve living standards, and connect Kinshasa to the global green economy.”
With an estimated 17 million residents, Kinshasa is one of Africa’s fastest-growing cities and a critical hub for regional commerce and politics. Its population is projected to double by 2050, putting immense pressure on infrastructure and housing — a challenge Vingroup’s investment could help alleviate.
Founded by billionaire Pham Nhat Vuong, Vingroup has evolved into a diversified global group spanning industry, technology, energy, services, and philanthropy. The company was recently listed by Time Magazine among the Top 1,000 Most Influential Companies Worldwide, recognized for its innovation and international reach.
If completed as envisioned, the Kinshasa project could become one of Africa’s largest urban sustainability initiatives— and a bold statement of Vietnam’s growing economic footprint beyond Asia.
