Data is money, big money: Vietnam tech giant FPT

Vietnamese tech giant FPT Corporation views data as a new resource and is determined to convert it into money and an artery of the economy, says its general director Nguyen Van Khoa.

Speaking at FPT Techday 2024, Vietnam’s largest annual international tech forum that closed Thursday in Ho Chi Minh City, Khoa noted that the company will focus on three “new” pillars: digital workforce, digital materials, and digital manufacturing methods.

Emphasizing that the future lies in data, Khoa said it has been estimated that Vietnam would need around three million IT workers to help protect data, ensure cybersecurity and maintain national cyberspace sovereignty.

FPT currently has over 80,000 employees and has a goal of reaching one million by 2035, he noted.

Highlighting the huge scope to expand Vietnam’s software exports beyond the current $2 billion, Khoa emphasized the need to enhance the country’s attractiveness to foreign investors, improve efficiency of the administrative system, and strengthen connections between the government, businesses and the public.

The FPT leader also underlined the importance of two laws on data and personal data protection, currently under development, in the local tech landscape, especially in the AI sector.

In terms of digital manufacturing, he pointed to the use of supercomputers in AI facilities, noting that FPT has already established AI centers in both Vietnam and Japan.

FPT was committed to supporting local companies in integrating AI and boosting their competitiveness, Khoa said.

FPT Corporation, listed on the Ho Chi Minh Stock Exchange as FPT, closed Friday down 1.54% at VND133,900 ($5.27) a share.