Vingroup spearheads technology to become world-class conglomerate

According to the agreement, Vingroup will cooperate with various universities on four main aspects including funding for science technology research projects; exchanging experiences among professors, researchers, students; teaching and sharing knowledge.

At the same time, Vingroup also commits to accepting nearly 100,000 graduates from the IT faculty of these universities in the next 10 years.

Vingroup offcially announced its strategic investment in technology-industry division with the goal of becoming a world-class conglomerate specialising in technology-industry-service, of which technology is the main focus.

In particular, Vingroup has offered several specific solutions to fulfill its goals. In regards to its existing commercial services division, the corporation will continue to promote and improve its quality as well as its performance.

Commercial services not only serve as a financial foundation but also a significant ecosystem supporting the research and commercialization of technology-industry products.

Vingroup will also continue advancing its automobile manufacturing and smart home appliances production in its industry division.

It is expected that the corporation will launch smart phone and smart tivi by the end of this year. At the same time, Vingroup will also develop the export of its industrial products to the world market.

Choosing technology as the top priority division, Vingroup has identified various key areas which can push a stronger investment including focusing on human resource and infrastructure to develop software production with the formation of Vintech, a company separated from Vinsmart.

Vintech will focus on the research of Artificial Intelligence (AI), software manufacturing and the research and development of new generation materials. Currently, Vintech has established two research institutes, which are Large Data Research Institute and Vin Hi-Tech Institute of Advanced Technology.

Furthermore, Vingroup aims to develop VinTech City, a center for the research, development and application of high technology, following the model of Silicon Valley in Hanoi city to create an inclusive ecosystem to serve start-ups in IT, such as office spaces, residential areas and start-up support companies.

Another important goal for Vingroup is to set up a technology investment fund with the purpose of finding cooperation opportunities and developing technology and AI projects that have high potential to apply worldwide.

Besides being supported financially, Vingroup’s partners will also have the chance to use the corporation’s ecosystem to experiment and commercialize their products.

In addition, VinTech has also set up a research fund on science and technology application to support research projects of local teachers and student as well as the National Innovation Center and the Network for Innovation in Vietnam.

This research fund is expected to boost the research and experimental movement of scientific and technological researches, contributing to the capacity of newly graduate technicians.