Through many different paths, ways of thinking and doing, the Vietnamese business community and entrepreneurs are creating many new milestones and steps to affirm their spirit of not faltering in the face of any challenges.
 |
| FPT aims to have 1 million artificial intelligence consultants by 2035. |
Business and dedication
Two months ago, VinFast established its headquarters in the Jebel Ali Free Trade Zone (JAFZA) with the support of the Dubai International Chamber. The company has signed dealership agreements in Oman and the United Arab Emirates (UAE), indicating its growth potential in the Middle East market.
With its presence in Dubai, VinFast has high expectations for the Middle East market. Dubai is a city where many rich and famous people live. The goods here are considered luxury goods.
Previously, at the end of 2023, VinFast also displayed its most advanced electric car model, the VF 9, at the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) in Dubai. This is one of the important international conferences, with the participation of heads of state from nearly 200 countries around the world.
Vietnam should set a strategy to become a country that provides AI products, services and resources globally, using AI as a driving force for the country's economic development in the next 30 years. 
- Mr. Do Cao Bao, member of FPT Board of Directors
In February 2024, VinFast Auto officially signed a cooperation agreement with Bahwan Automobiles Trading Company (BAT) on distributing electric vehicles in the Oman market. According to the agreement, BAT is the official dealer of VinFast in Oman.
During the period 2024 - 2027, BAT plans to open and operate 13 VinFast stores and service workshops.
Recently, on the occasion of the 5th anniversary of the inauguration of the VinFast Automobile Manufacturing Plant (June 14, 2019 - June 14, 2024), in an interview with Bloomberg Media, Vingroup Chairman Pham Nhat Vuong affirmed that the strong promotion of VinFast aims to bring Vietnam's manufacturing industry to the international level, because VinFast is not only a business project, but also a project of dedication. Accordingly, instead of focusing on producing low-cost cars as many people think, VinFast will target products with reasonable prices, true to their real value.
Although it only started producing cars more than 5 years ago, VinFast is now competing with global names such as Tesla and Hyundai when entering the US market. VinFast is also penetrating markets such as India and Indonesia.
On a personal level, Vingroup's boss said he will financially support VinFast until he runs out of money. He currently owns assets of about 5.3 billion USD. He is confident that he can steer VinFast through challenges, despite the fact that global car brands such as Toyota and Volkswagen are facing difficulties.
VinFast faces many challenges to become a successful brand on a global scale. Chinese electric car manufacturers are stepping up exports of low-cost electric cars. Tesla is cutting prices. VinFast is also facing many difficulties in the US market.
In fact, many Chinese electric car manufacturers have been targeting Europe, Southeast Asia and other foreign markets, threatening the world's long-standing automakers from Europe and the US.
The electric vehicle industry is also witnessing many efforts like what billionaire Elon Musk has done with Tesla. In the first half of 2024, VinFast sold 21,747 electric cars globally, up 92% compared to the same period in 2023. This result shows VinFast's strong growth momentum. However, economic uncertainties and challenges globally require a more cautious strategy in the remaining months of 2024. Therefore, the Company adjusted its vehicle delivery target to about 80,000 vehicles in 2024, up 2.3 times compared to 2023 (34,855 vehicles).
According to international media experts, VinFast needs to build its brand and compete with big rivals. Mr. Vuong understands that to succeed in the US, it requires a lot of time and investment capital. But he is showing an undaunted spirit in the face of any challenge. He even believes that VinFast will soon reach the break-even point and become self-sufficient.
Betting Your Entire Future on AI
In a recent in-depth discussion on FPT’s “Future of FPT AI”, FPT Chairman Truong Gia Binh affirmed that by 2035, the Group must have 1 million artificial intelligence (AI) consultants. This goal was set by FPT in the context of the AI field exploding to the point of threatening the fate of every human’s job.
For its own survival and development, FPT must act decisively. In fact, FPT has been researching and building products in the field of AI for about 10 years. The group is providing more than 20 solutions in the AI technology ecosystem for 100 domestic and foreign enterprises, serving more than 20 million end users, and expanding cooperation with leading research institutes and companies in AI, such as Mila Institute (Canada), Landing AI Company (USA). Recently, FPT attracted attention when it entered into a comprehensive strategic cooperation with Nvidia - the world's largest chip manufacturing corporation.
But the biggest investment, which FPT has never done before, is investing 200 million USD to build an AI factory in Vietnam. FPT is building AI labs in Singapore, in Silicon Valley (USA), collaborating with world masters such as Yoshua Bengio, Andrew Ng…
FPT expects that AI technology will create distinct competitive advantages so that the Group can quickly achieve the target of 5 billion USD in IT service revenue from foreign markets by 2030, contributing to further enhancing its position in the group of billion-dollar IT enterprises globally.
To achieve the big goal, FPT Chairman set out a specific direction for each employee to increase labor productivity by 30%. “Everyone must be AI. FPT people must be AI experts, every FPT leader must be an AI leader, every FPT unit must be AI, every FPT product and service must be AI,” Mr. Truong Gia Binh shared.
Recently, Dr. Nguyen Xuan Phong, Director of AI at FPT Software (a member company of FPT Corporation) is the only Vietnamese person to be included in the top experts in the field of AI in the world (Top 150 pioneering leaders promoting the development of AI globally - AI150, selected and announced by Constellation Research in Silicon Valley). FPT is also the only Southeast Asian enterprise represented in this list.
As Director of AI at FPT, Dr. Nguyen Xuan Phong plays an important role in establishing FPT's cooperation with leading AI partners such as Nvidia, Mila, Landing AI, AITOMATIC. Notably, FPT Software recently became a founding member of the AI Alliance initiated by IBM and Meta.
Mr. Do Cao Bao, member of FPT Board of Directors, shared that after the software export strategy in 1998, AI is the second most important strategy in FPT's 36-year history. In particular, with the software export strategy, FPT has reaped the sweet fruit of 1 billion USD in revenue in 2023. Now, AI is expected to bring FPT an even bigger breakthrough.
On a national scale, Mr. Bao said that Vietnam should set a strategy to become a country that provides AI products, services and resources globally, using AI as a driving force for the country's economic development in the next 30 years.
Meanwhile, in Vietnam, there are also many start-ups with only a few dozen employees, but with the dream of making technology products for hundreds of thousands, millions of users.
Becoming a “tech unicorn” is not a dream
It can be said that, amidst the uncertainties of the global economy, technological innovation has become an important factor promoting Vietnam's sustainable economic development.
Vietnam has emerged as an attractive destination for technology investment in the region in recent years. This is thanks to the digital economy witnessing the highest growth in Southeast Asia for the past two consecutive years (2022 and 2023). Moreover, it is also the season of fundraising.
“Unicorn” start-up is a term used to refer to start-ups valued at over 1 billion USD. This is the goal of all start-ups in the world, not just in Vietnam. With the goal of creating 10 technology unicorns by 2030, in recent years, the Government has launched many initiatives to nurture potential start-ups.
The goal of conquering the dream of becoming a “technology unicorn” and reaching the world is creating great pressure on business leaders. They become the guides, the bearers, the ones who inspire all their companions. The responsibility on their shoulders is not only “bread and butter”, the company’s profits, but also the dreams of their teammates and staff.
However, investors are becoming more and more demanding, the market is gradually saturated, and businesses are facing increasing pressure and challenges to survive.
Businesses believe that the business context was difficult in the past, and is even more difficult today. But more than anyone else, they understand that only when they are truly faced with the battle for survival with the worry of "bread and butter" in the current economic period, do they truly realize that they and their businesses need to transform more practically and practically than ever.
The generation of Vietnamese entrepreneurs, whether young or old, are full of aspirations to bring their companies to the world, making Vietnam a startup powerhouse with the world's leading startups.
And in fact, we have startups with tens of millions of users worldwide, with billions of dollars in capitalization, and with tens or hundreds of millions of dollars in revenue from the global market.
However, to have more and more young entrepreneurs with companies reaching the world, to have more and more Vietnamese entrepreneurs carry the dream of a better life for workers, it is necessary to have the cooperation of the Government and state agencies to create favorable conditions not only in terms of laws and policies, but also in terms of connections and support for businesses to reach out to the big sea.
First of all, the Government needs to support Vietnamese enterprises and entrepreneurs to gain a foothold at home, then cooperate with foreign direct investment (FDI) enterprises to penetrate deeper into the global value chain.
In addition, there needs to be a mechanism to support businesses in terms of taxes, capital, preferential interest rates, etc., helping businesses restructure their business models to better meet new world standards and global production trends, such as green production, renewable energy, circular economy, responsible business, etc. Only then can Vietnam quickly build a new generation of entrepreneurs of international stature, contributing to the country's strong development.
Source: https://baodautu.vn/nac-thang-moi-cua-doanh-nghiep-viet-nam-d223910.html
Comment (0)