Vingroup and Mitsubishi Corporation Sign a Memorandum of Understanding for Comprehensive Strategic Cooperation

Vingroup

30 May 2024 at 6:50 am·2-min read

NHA TRANG, VIETNAM - Media OutReach Newswire - 30 May 2024 - 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 center 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 Vietnam and internationally.

Leaders of Mitsubishi Corporation, Vingroup and its member companies at the signing ceremony.

Specifically, in the field of urban development, Mitsubishi Corporation will make large-scale investments in Vinhomes to develop world-class smart city projects in Vietnam. 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. Additionally, a focus will be placed on using green materials to achieve net-zero emissions, thereby reducing carbon emissions nationwide.

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

Regarding renewable energy, the two sides will conduct a feasibility study on implementing wind power projects in Vietnam. 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, Vietnam, 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.

Mr. Takuya Kuga, CEO of Urban Development and Infrastructure, Mitsubishi Corporation, shared: "Mitsubishi Corporation is actively pursuing a wide range of business ventures driven by the mission of enhancing the quality of life for the people of Vietnam. With the establishment of a comprehensive strategic partnership between Vingroup and Mitsubishi Corporation, I am confident that the two groups will embark on a path of robust growth, scaling new heights in the years ahead".

Vingroup, Vietnam's leading private multi-industry economic group, operates primarily in three core sectors: Technology and Industry, Commerce and Services, and Social Charity. Vingroup and its subsidiaries have established a production and business system across Vietnam and in several countries (North America, Europe, Southeast Asia). Seizing potential investment and business opportunities with a global approach, Vingroup has cooperated and will continue to cooperate with leading global corporations and companies to continuously innovate and create an ecosystem of high-class products and services, enhancing the quality of life for everyone and elevating the status of the Vietnamese brand in the international market.

Mitsubishi Corporation, a global business conglomerate, conducts business activities through a global network comprising approximately 1,800 group companies. The three corporate principles – Corporate Responsibility to Society; Integrity and Fairness; and Global Understanding through Business – have been Mitsubishi Corporation's core philosophy since its inception, guiding its commitment to continuously improve and enhance economic, environmental, and social responsibilities worldwide.

Hashtag: #Vingroup

The issuer is solely responsible for the content of this announcement.

The Telegraph
Saudi Arabia shuts pilgrims out of air-conditioned areas as over 1000 die in extreme heat
Saudi Arabian officials shut illegal pilgrims out of air-conditioned rest areas in Mecca during extreme heat that killed more than 1,000 people on hajj.
CBC
Grolar bear hybrids in N.W.T. all traced back to same 'strange' female polar bear
A family of polar and grizzly bear hybrids, or grolars, in Canada's western Arctic — which all started with a "pretty strange" female polar bear — is "quite rare," according to a new study. The research paper, published last week in the journal Conservation Genetics Resources, used a new tool to look at samples from 371 polar bears and 440 grizzly bears across Canada, Alaska and Greenland. The samples had been collected between 1975 and 2015. Ruth Rivkin, a postdoctoral research fellow at the Un
BBC
Using fake nests to save rare bird from dying out
Predation is seen as one of the biggest threats to the survival of the near-extinct capercaillie.
BBC
One of world’s rarest cats no longer endangered
The Iberian lynx is now classed as "vulnerable" as numbers surge due to conservation efforts.
PA Media: UK News
Birth of wildcat kittens in Kent wildlife park sparks hope for rarest UK mammal
Wildwood Trust said the litter were born about nine weeks ago in a dedicated off-show breeding enclosure, to parents Talla and Blair.
The New York Times
New ‘Detective Work’ on Butterfly Declines Reveals a Prime Suspect
What’s driving ominous declines in insects? While a growing body of research shows decreases in many insect populations, it has been hard for scientists to disentangle the possible causes. Are insects suffering from habitat loss as natural areas are plowed and paved? Is climate change doing them in? What about pesticides? The latest insight comes from a study on butterflies in the Midwest, published Thursday in the journal PLOS One. Its results don’t discount the serious effects of climate chang
AFP News
US expedites air defence to Ukraine as Russia pounds power plants
Washington promised Thursday to prioritise shipments of air-defence missiles to Ukraine after Russian bombardments forced mass blackouts and prompted the country's president to call for solar panels on hospitals and schools."Solar panels, smart meters, and energy storage units must appear in every school and hospital as soon as possible," he said in a statement on social media.
Reuters
Heatwave kills dozens of homeless in India's capital, group says
(Reuters) -The heatwave gripping northern India has killed nearly 200 homeless people in New Delhi over the last week, a group dedicated to helping the homeless said on Thursday, as the country grapples with record high summer temperatures. As many as 52 bodies were brought to hospitals in the past two days, the Times of India reported on Thursday, adding that most of them were poor people who lived and worked in the open. A total of 192 homeless people died in New Delhi between June 11 and June 19, according to government figures shared by non-profit organisation Centre for Holistic Development, higher than in previous years.
BBC
Wildlife fans urged to look out for baby hedgehogs
A Leicestershire rescue centre urges people to act fast if they see hoglets during daylight hours.
Reuters Videos
Haj pilgrimage threatened as hundreds perish in heat
STORY: Nearly 2 million Muslims will complete the haj pilgrimage this week, but extreme heat has been fatal for hundreds who started the journey last Friday, to the Kaaba in Mecca, Saudi Arabia.According to reports, at least 562 people have died during the haj. Egypt has reported 307 deaths and 118 missing, with temperatures hitting over 124 degrees Fahrenheit.The haj's timing is based on the lunar year, moving back 10 days each year.While the haj is now moving towards winter, it will occur in the peak of summer in Saudi Arabia by the 2040s.Climate scientist Fahad Saeed says these deaths hint at future risks for millions of haj pilgrims."We need to prepare, we need to adapt, we need to introduce the adaptation option as much as we can. While realizing that it will compromise on the centuries old ritual, but still we need to save people. But at the same time, we must do climate action to stop the global warming at 1.5 degrees centigrade. At anything beyond that, we are putting those pilgrims at the risk of death."Heat-related deaths during the haj have been recorded since the 1400s.Pilgrims' vulnerability stems from exertion, exposure, and older age, as well as a simple lack of acclimatization to the heat.According to Saudi officials last year, more than 2,000 people suffered from heat stress during that haj.A 2021 study in the journal Environmental Research Letters found that if global temperatures rise by 2.7 degrees Fahrenheit above pre-industrial levels, heat stroke risk for haj pilgrims will increase by five times.Still, pilgrims remain determined - for some, it's a one-in-a-lifetime affair."Haj is the fifth pillar of Islam and it is a mandatory duty for every capable person. So you have to exert efforts and get tired. Haj is a difficult task, so you have to exert efforts and perform the rituals even in the conditions of heat and crowding. You use an umbrella, drink water and pour it onto your body to prevent dehydration. And the water sprinklers in the walkways help."In 2016, Saudi Arabia implemented a heat strategy with shaded areas, water points at every 500 meters, and improved healthcare.Saudi health authorities advised pilgrims to stay hydrated and avoid outdoor activities from 11 a.m. to 3 p.m. during this year's haj.
Evening Standard
Mysterious monolith discovered in desert near Las Vegas
The structure’s origins are a mystery, said Las Vegas police
Associated Press
Hawaii residents fined $20K after Hawaiian monk seal pup mauled by unleashed dogs
Two Hawaii residents were fined $20,000 for their alleged roles in the fatal mauling of a female Hawaiian monk seal pup by unleashed dogs, U.S. officials said Thursday. Hawaiian monk seals are a critically endangered species. The loss of a female is a particularly hard blow to conservation efforts because she could have grown up to give birth to pups of her own.
PA Media: UK News
Chimps helping scientists find plants that have potential to become medicines
Observing primates could pave the way for new drug discoveries, researchers say.
The Independent
Solar panel achieves world record with ‘miracle material’
New record for perovskite-silicon cell is more than 7 per cent more efficient than a standard silicon cell
Reuters Videos
Chinese farmers struggle in the heat as reservoir shrinks
STORY: Selling his produce along a street in Jinan in eastern China, 56-year-old farmer Li Weidong says the city is as hot as a stove.The capital of Shandong province has been struggling with scorching heat for over a month. On Wednesday (June 19) authorities in the province declared an orange heat alert.A nearby reservoir – though not completely dried-up – is showing signs of distress. Li says the water used to be much closer to the road. “When it was not dried up, the water was just a couple of meters away from the road. Now it’s shrunk, now it’s dried up. The irrigation for farmland and drinking water supply for the city both depend on it."This 70-year-old farmer in Jinan says she planted apples, peaches and other crops during this summer's planting season. She estimates 90% of those crops are now damaged."Even with the drought in the 1960s, it wasn't as dry as it is this year," she says. "Back then, it still rained once or twice in the spring, but this year, it hasn’t rained even once.”In some parts of the wheat-growing provinces of Hebei, Henan and Shandong, temperatures could reach upwards of 111 degrees Fahrenheit, potentially breaking historical records for the month of June, Chinese state broadcaster CCTV said.
BBC
Rare zebra born at wildlife park in 'UK first'
The newborn maneless zebra foal at Peak Wildlife Park is one of 40 living in zoos across the world.
PA Media: UK News
Supreme Court ruling is ‘massive vindication’, says campaigner who brought case
Justices said that emissions created by burning fossil fuels must be considered when granting planning permission for new drilling sites.
Associated Press
It's hard to find treatment for snakebites in Kenya. Thousands of people are dying every year
Esther Kangali felt a sharp pain while on her mother’s farm in eastern Kenya. Kangali was rushed to a nearby health center, but it lacked antivenom to treat the snake's bite. The 32-year-old mother of five knows it could have been avoided if clinics in areas where snakebites are common are stocked with antivenom.
The Telegraph
Sir Jim Ratcliffe attacks Labour plans days after backing Starmer
Labour’s green energy plans will tax the North Sea “out of existence”, Sir Jim Ratcliffe has warned, days after he publicly backed Sir Keir Starmer.
AFP News
US's Gaza aid pier effort hit by repeated setbacks
The controversial US effort to boost Gaza aid deliveries by building a temporary pier has faced repeated problems, with bad weather damaging the structure and causing other interruptions to the arrival of desperately needed assistance.High seas caused four US Army vessels supporting the mission to break free of their moorings on May 25, beaching two of them, and the pier was damaged by bad weather three days later, requiring sections to be repaired and rebuilt at Ashdod.

Straits Times Index

Nikkei

Hang Seng

FTSE 100

Bitcoin USD

CMC Crypto 200

S&P 500

Dow

Nasdaq

Gold

Crude Oil

10-Yr Bond

FTSE Bursa Malaysia

Jakarta Composite Index

PSE Index

Vingroup and Mitsubishi Corporation Sign a Memorandum of Understanding for Comprehensive Strategic Cooperation

Latest stories

Saudi Arabia shuts pilgrims out of air-conditioned areas as over 1000 die in extreme heat

Grolar bear hybrids in N.W.T. all traced back to same 'strange' female polar bear

Using fake nests to save rare bird from dying out

One of world’s rarest cats no longer endangered

Birth of wildcat kittens in Kent wildlife park sparks hope for rarest UK mammal

New ‘Detective Work’ on Butterfly Declines Reveals a Prime Suspect

US expedites air defence to Ukraine as Russia pounds power plants

Heatwave kills dozens of homeless in India's capital, group says

Wildlife fans urged to look out for baby hedgehogs

Haj pilgrimage threatened as hundreds perish in heat

Mysterious monolith discovered in desert near Las Vegas

Hawaii residents fined $20K after Hawaiian monk seal pup mauled by unleashed dogs

Chimps helping scientists find plants that have potential to become medicines

Solar panel achieves world record with ‘miracle material’

Chinese farmers struggle in the heat as reservoir shrinks

Rare zebra born at wildlife park in 'UK first'

Supreme Court ruling is ‘massive vindication’, says campaigner who brought case

It's hard to find treatment for snakebites in Kenya. Thousands of people are dying every year

Sir Jim Ratcliffe attacks Labour plans days after backing Starmer

US's Gaza aid pier effort hit by repeated setbacks