US investment fund TPG optimistic about digital transformation in Vietnam

On the afternoon of September 22, during his working trip to the United States, General Secretary and President To Lam met with a number of representatives of US businesses and investment funds in a seminar on digital transformation. On the sidelines of the seminar, The World and Vietnam Newspaper had the opportunity to talk with Mr. Pham Duc Trung Kien, a long-time investor in Vietnam and a philanthropist supportingeducational development activities in the country, especially the Khan Academy Vietnam program. We would like to share with readers the interview with Mr. Kien.

Overview of the meeting between General Secretary andPresident To Lam with investors in the United States.

PV: Hello Mr. Kien, nice to meet you at this discussion. Could you tell us what your role is?

Mr. Pham Duc Trung Kien: I am here as a representative of the US investment fund TPG Capital, in the role of senior advisor to the fund for the past 17 years. This is a very interesting exchange between General Secretary and President To Lam and US businesses.

Could you tell us how TPG fund is currently investing in Vietnam?

TPG currently manages approximately $230 billion. We have been investing in Vietnam since 2006, starting with FPT in the technology sector, followed by Masan in the food sector, CrowX in the supermarket and convenience store sector, the Vietnam-Australia school chain in the education sector, and Columbia Hospitals in the healthcare and medical sector. We continue to explore additional investment opportunities in Vietnam.

Why does TPG fund focus on the Vietnamese market?

As an international investment organization, we are particularly interested in the stability of the market, society and political institutions. We believe that the Vietnamese Government has managed social stability and economic development well, creating a premise for peace of mind in investing. The Vietnamese Government implements these policies with a spirit of national pride and aspiration for national development, thereby bringing common benefits to investors like us, and that is a very good thing.

The Vietnamese government is pushing for digital transformation. How do you assess Vietnam's chances of success in this area?

I believe that Vietnam has a very high chance of success. Over the past 25 years, Vietnam has invested heavily in telecommunications and Internet infrastructure, with good domestic and international connectivity. Vietnamese people have a very high rate of Internet access at a lower cost than many other countries. This is a solid foundation for the development of the digital economy and digital society in the future. A typical example is that 4 months ago, the semiconductor manufacturing company for artificial intelligence Nvidia signed a contract with FPT to open the first AI Factory in Vietnam - a great achievement for both FPT and Vietnam.

However, to carry out the digital revolution, the human factor is also very important. In your opinion, does Vietnam have enough human resources to meet this demand?

In my opinion, Vietnam currently does not have enough human resources. However, over the past 20 years, universities such as Hanoi National University, Ho Chi Minh City National University, Danang University, Posts and Telecommunications Institute of Technology, and recently FPT University have trained hundreds of thousands of software engineers. As General Secretary and President To Lam emphasized at the meeting, Vietnam has the conditions to both conduct digital transformation and train more human resources, including training abroad.

What do you think about the role of foreign technology companies in Vietnam?

Companies like Microsoft, Intel, Samsung, and Synopsys have been very supportive of Vietnam in training human resources. I believe that upcoming companies like Nvidia and Qualcomm will also actively participate in this.

Do you have any message for companies or financial institutions that are still skeptical about the Vietnamese market?

In fact, the Vietnamese economy is still in its development phase. Skepticism is understandable. However, I would advise those who are hesitant to look at large companies such as Microsoft, Facebook, Meta, Google, and Apple. In addition, look at the dynamism and thirst for learning of Vietnamese youth to get a more accurate view of the bright path this country is taking.

Thank you for taking the time to share with us.

Source: https://baoquocte.vn/quy-dau-tu-tpg-hoa-ky-lac-quan-voi-cong-cuoc-chuyen-doi-so-tai-viet-nam-287399.html