Leading real estate and retail conglomerate Vingroup signed agreements with the top 50 universities in Viet Nam on Tuesday as it aims to become an international-standard technology-industry-service business in the future.

Vingroup has agreed to provide funding for university science-technology projects and co-operate with them in training and educational programmes to share ideas and lectures.

In addition, Vingroup has committed to employing 100,000 technology students within the next 10 years.

The activities are parts of the group’s plan to become an international-standard technology-industry-service conglomerate by 2028 with a focus on technology development and application.

To achieve the target, Vingroup plans to improve the quality and efficiency of its service and trading segment.

Vingroup will also enhance the production of automobiles and smart home-appliance products through the establishment of its software developer VinTech, which has split from another sub-unit VinSmart.

VinTech will specialise in developing artificial intelligence (AI) products, software programmes and new-generation materials. Vingroup’s newest business has set up two research institutions – the Big Data Research Institute and Vin Hi-Tech Research Institute.

A tech hub in Ha Noi called VinTech City will also be developed following the US tech cluster Silicon Valley. VinTech City is hoped to create a business ecology that’s similar to the Silicon Valley to serve information-technology startup companies.

Moreover, a technology investment fund will be founded to seek opportunities in technology and AI projects that are applicable on a global scale.

Vingroup will help those projects with financial assistance and allow them to make the best use of the conglomerate’s business ecology to test and commercialise their products.

VinTech also plans to set up a fund for science-technology applications to support research projects of domestic students and lecturers.

The new fund is expected to boost research activities in Viet Nam to improve the quality of engineering graduates.

“Vingroup has now qualified to join the technological and industrial sectors after 25 years of consolidation and investment," said Vice Chairman cum Deputy General Director of Vingroup, Nguyen Viet Quang.

"Investments in the two sectors will not only help Vingroup reach new heights but also create a new tech-industry environment to boost Viet Nam in the world’s technology industry," Quang said at the signing ceremony.

"This is our destiny and we’ll strive to realise this target,” Quang added. — VNS

Vingroup launches four new sub-units Vingroup on Tuesday introduced its four sub-units to help the real estate and retail conglomerate become Viet Nam’s leading technology-industry-service business in the future. The units include technology developer VinTech Company that researches and acquires licences from Vietnamese organisations to bring initiatives and technologies to life. VinTech will study and test products with artificial intelligence (AI), automation and new-generation material. The second unit is the Big Data Research Institute that targets big data fields such as AI and focuses on applied science. The institute will also organise training programmes and will be headed by the US-based Yale University’s professor Vu Ha Van. The third sub-unit is Vin Hi-Tech Research Institute that studies applications and is in charge of receiving handovers of technologies on new energy, new material, biology, environment and electronics. The institute is chaired by Professor and Doctor Nguyen Quoc Sy. Finally the fourth unit is the Fund of Applied Science and Technology that sponsors science projects on computing, AI, robotics, automation, nano technology, renewable energy and new-generation material. The fund is expected to help develop products and solutions that benefit the Vietnamese community. It will also grant scholarships to Vietnamese technology students. — VNS