Vingroup Vietnam To Become Tech-Industry-Service Conglomerate
Vingroup a leading real estate and retail conglomerate in Vietnam signed an agreement with the country’s top 50 universities to provide funding for the university’s science & technology projects and co-operate with them on training and education programmers. In addition, Vingroup has committed to employing 100,000 technology students within the next 10 years. Included in the plan is the setting up of a fund to support research projects for domestic students and lecturers to pursue science and technology application.
“After 25 years of consolidation and diversification of its investment, Vingroup is now actively growing its business in the technological and industrial sectors. A tech hub in Hà Nội called VinTech City will also be developed following the US tech cluster Silicon Valley. VinTech City where its aims is to create a business ecology that is similar to the Silicon Valley to serve information-technology startup companies” said Vice Chairman cum Deputy General Director of Vingroup, Nguyễn Việt Quang. He adds further that the investment is part of the group’s plan to become an international-standard technology-industry-service conglomerate by 2028 with a focus on technology development and application. With investments in the two sectors, the company aims to create a new tech-industry environment to boost Việt Nam in the world’s technology industry,” Quang said at the signing ceremony.
In VinTech City, the company’s VinTech division leads by setting a hub to develop artificial intelligence (AI) products, software programs and new generation materials. This newest business has set up two research institutions — the Big Data Institution and Vin Hi-Tech Institution. This sub-unit now focus on the production of automobiles and smart home-appliance products.