Vingroup and Mitsubishi agree to collaborate

June 02, 2024 - 09:35
Through this collaboration, both parties aim to achieve new milestones in business operations in Việt Nam and internationally.
Representatives pose for a photo during a MoU signing ceremony. — Photo courtesy of Vingroup

NHA TRANG — Vingroup and Mitsubishi Corporation have signed a Memorandum of Understanding (MoU) for comprehensive strategic cooperation.

The partnership focuses on five key areas: urban development, data centre development, renewable energy, used cooking oil recycling and the automotive industry. Through this collaboration, both parties aim to achieve new milestones in business operations in Việt Nam and internationally.

In the field of urban development, Mitsubishi Corporation will make large-scale investments in Vinhomes to develop world-class smart city projects in Việt Nam. This collaboration will enhance the quality of real estate offerings. The two sides will also collaborate on developing interior design platforms and applying digital technologies to improve the management of real estate projects. In addition, a focus will be placed on using green materials to achieve net-zero emissions, thereby reducing carbon emissions nationwide.

In the field of data centre business, the two parties will conduct a feasibility study to establish a joint venture for data centre operations in Việt Nam. This initiative aims to provide critical digital infrastructure for Vietnamese society, contributing to Việt Nam 's digital transformation and social development.

Regarding renewable energy, the two sides will conduct a feasibility study on implementing wind power projects in Việt Nam. These projects aim to supply clean and reliable energy to urban development projects developed by Vinhomes.

Regarding used cooking oil recycling, Mitsubishi Corporation will establish a working group to collect used cooking oil from Vinhomes and Vinpearl projects, recycling it into biofuel to protect the environment. Additionally, they will promote community activities to foster a green lifestyle in urban areas.

In the automotive industry, Mitsubishi Corporation will explore providing after-sales services for VinFast in international markets, thereby enhancing the competitiveness of the VinFast electric car brand.

Leveraging their extensive experience in Japan, Việt Nam, and the global market, the collaboration between Mitsubishi Corporation and Vingroup, through the establishment of working groups, will swiftly execute the MoU's objectives. This partnership aims to bring international-standard products and services to the market, advancing sustainable development. — VNS