Vingroup and Mitsubishi Corporation sign comprehensive strategic cooperation

Vingroup and Mitsubishi Corporation have just signed a memorandum of understanding on comprehensive strategic cooperation in five key areas. First, in the field of urban development, Mitsubishi Corporation will invest heavily in Vinhomes to create high-class smart urban projects in Vietnam, increasing the quality supply for the market.

The Japanese group also participates in developing interior design platforms and building digital technology applications to optimize the efficiency of construction management of real estate projects; using green materials to move towards Net Zero, reducing carbon emissions nationwide.

Second, the two sides will evaluate the feasibility of establishing a joint venture to develop a data processing center in Vietnam to support society as a digital infrastructure, enhance digitalization and contribute to the benefits of Vietnamese society.  Third, in the field of renewable energy, the two sides will study the feasibility of implementing a wind power project in Vietnam, aiming to provide clean energy suitable for Vinhomes’ urban projects.

Fourth, in the field of cooking oil recycling, the Japanese partner will establish a working group to collect used cooking oil at Vinhomes and Vinpearl projects to recycle into biofuel to protect the environment, as well as enhance community activities towards a green lifestyle in urban areas.

Fifth, in the field of the automobile industry, Mitsubishi Corporation will consider providing after-sales services to VinFast in the international market, thereby enhancing the competitiveness of the VinFast electric car brand in new markets.

With rich experience in markets of Japan and Vietnam as well as the global market, Mitsubishi Corporation and Vingroup’s promotion of the establishment of working groups will quickly implement the goals of the agreement, bringing to the market products and services meeting international standards, while contributing to the process of promoting sustainable development.

Mr. Takuya Kuga, General Director of Urban Development and Infrastructure of Mitsubishi Corporation said “Mitsubishi Corporation is implementing many business activities with the mission of improving the quality of life of Vietnamese people. With Vingroup and Mitsubishi Corporation establishing a comprehensive strategic partnership, I expect the two corporations to have strong development steps, reaching new heights in the coming period.” Vingroup is a leading multi-industry private economic group in Vietnam, operating mainly in three key areas including technology – industry, trade – services and social charity.

Currently, Vingroup and its member companies have built a system of production and business facilities covering all provinces/cities in Vietnam and in a number of countries around the world (North America, Europe, Southeast Asia). Grasping the potential investment and business opportunities with the motto of connecting global intelligence, Vingroup has been and will cooperate with the world’s leading corporations and companies to constantly innovate and create an ecosystem of high-class products and services, contributing to improving the quality of life for everyone and raising the position of Vietnamese brands in the international market.

Mitsubishi Corporation is a global business group, implementing business activities through its global network of about 1,800 companies. The three corporate’s principles – corporate social responsibility; honesty and fairness; and global understanding through business – have been the core philosophy of Mitsubishi Corporation since its establishment, serving as the basis for the company to continuously improve and enhance its economic, environmental and social responsibilities worldwide.


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