NMDC Group and Vingroup to advance sustainable coastal development in Vietnam
The project is expected to create jobs for local communities, fostering new wave of economic growth in Vietnam’s coastal regions
NMDC Group and Vingroup have signed a Memorandum of Understanding (MOU) to undertake large-scale coastal protection and land reclamation projects in Vietnam. The partnership reinforces both organisations’ commitment to sustainable development, with a focus on high-end real estate and critical coastal infrastructure.
NMDC Group and Vingroup will explore collaboration across a number of areas, in particular, large-scale projects focused on environmental sustainability. These will include projects for coastal land and for urban expansion, sustainable coastal protection for high-end real estate, and industrial land reclamation as well as offshore wind development projects, said a statement.
The NMDC Group will employ its advanced marine engineering solutions to ensure a positive and sustainable environmental impact and long-term coastal resilience.
Eng. Yasser Zaghloul, Group CEO of NMDC, commented, “Our partnership with Vingroup aligns perfectly with NMDC’s strategy to deliver sustainable marine infrastructure that supports both economic development and environmental protection. We are excited to bring our technical expertise to Vietnam’s coastline, creating long-term value for both communities and investors.”
Nguyen Nhat Quang, Vice Chairman and Chief Executive Officer of Vingroup added, “We are delighted to partner with NMDC Group, a highly reputable and capable partner in marine infrastructure development. This cooperation not only benefits Vingroup but also contributes significantly to sustainable projects in Vietnam, helping to strengthen infrastructure resilience in the face of climate change.”
The projects are expected to create thousands of jobs for local communities, fostering economic growth in Vietnam’s coastal regions as well as bringing vast social benefits. The collaboration will support Vietnam’s vision to position itself as a destination for coastal tourism and attract significant investments in marine infrastructure.
