FPT Consortium Begins Construction of $173 Million AI Centre in Southern Vietnam
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On Wed, 21 Aug, 8:02 AM UTC
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FPT consortium commences work on $173 million AI centre in southern Vietnam
HANOI (Reuters) - Vietnam's top tech firm FPT and its subsidiaries kicked off construction on a $174 million artificial intelligent project in south-central Binh Dinh province, its latest push to tap into AI sector, the company said on Wednesday. The project, developed by a consortium including FPT City Danang, FPT Investment, and FPT Software, covers an area of 93.24 hectares, FPT said in a statement. It comprises an AI centre, an education zone and a supporting urban zone, of which the AI centre will focus on research, software production, digital transformation assistance and cybersecurity solution provision, it added. FPT is the most valuable technology company on Vietnam's Ho Chi Minh City bourse, with a market capitalisation of $7.7 billion. It offers a variety of AI, cloud and big data services, and last year its total revenues exceeded $2 billion. In April, FPT announced a plan to build a $200 million AI factory using Nvidia's graphics chips and software. (Reporting by Phuong Nguyen; Editing by Rashmi Aich)
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FPT Consortium Commences Work on $173 Million AI Centre in Southern Vietnam
HANOI (Reuters) - Vietnam's top tech firm FPT and its subsidiaries kicked off construction on a $174 million artificial intelligent project in south-central Binh Dinh province, its latest push to tap into AI sector, the company said on Wednesday. The project, developed by a consortium including FPT City Danang, FPT Investment, and FPT Software, covers an area of 93.24 hectares, FPT said in a statement. It comprises an AI centre, an education zone and a supporting urban zone, of which the AI centre will focus on research, software production, digital transformation assistance and cybersecurity solution provision, it added. FPT is the most valuable technology company on Vietnam's Ho Chi Minh City bourse, with a market capitalisation of $7.7 billion. It offers a variety of AI, cloud and big data services, and last year its total revenues exceeded $2 billion. In April, FPT announced a plan to build a $200 million AI factory using Nvidia's graphics chips and software. (Reporting by Phuong Nguyen; Editing by Rashmi Aich)
[3]
FPT consortium commences work on $173 million AI centre in southern Vietnam
The project, developed by a consortium including FPT City Danang, FPT Investment, and FPT Software, covers an area of 93.24 hectares, FPT said in a statement. It comprises an AI centre, an education zone and a supporting urban zone, of which the AI centre will focus on research, software production, digital transformation assistance and cybersecurity solution provision, it added.Vietnam's top tech firm FPT and its subsidiaries kicked off construction on a $174 million artificial intelligent project in south-central Binh Dinh province, its latest push to tap into AI sector, the company said on Wednesday. The project, developed by a consortium including FPT City Danang, FPT Investment, and FPT Software, covers an area of 93.24 hectares, FPT said in a statement. It comprises an AI centre, an education zone and a supporting urban zone, of which the AI centre will focus on research, software production, digital transformation assistance and cybersecurity solution provision, it added. FPT is the most valuable technology company on Vietnam's Ho Chi Minh City bourse, with a market capitalisation of $7.7 billion. It offers a variety of AI, cloud and big data services, and last year its total revenues exceeded $2 billion. In April, FPT announced a plan to build a $200 million AI factory using Nvidia's graphics chips and software. (Reporting by Phuong Nguyen; Editing by Rashmi Aich)
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A consortium led by FPT Corporation has started work on a $173 million AI centre in Vietnam's Binh Duong province. The project aims to boost the country's AI capabilities and attract global tech companies.
FPT Consortium Launches Ambitious AI Project
In a significant move for Vietnam's technology sector, a consortium led by FPT Corporation has commenced work on a $173 million artificial intelligence (AI) centre in the southern province of Binh Duong. The project, which broke ground on Sunday, marks a major step in Vietnam's efforts to position itself as a key player in the global AI landscape 1.
Project Details and Objectives
The AI centre, spanning an impressive 5.9 hectares, is set to become a cornerstone of Vietnam's AI ecosystem. FPT Corporation, Vietnam's leading information technology company, aims to complete the first phase of the project by 2025. The centre is designed to house up to 20,000 AI engineers and experts, creating a hub for innovation and technological advancement 2.
Economic Impact and Government Support
This initiative aligns with Vietnam's ambitious goal of becoming a major player in AI by 2030. The government has thrown its support behind the project, recognizing its potential to attract global tech giants and boost the country's economy. Deputy Prime Minister Tran Hong Ha, who attended the groundbreaking ceremony, emphasized the project's role in Vietnam's digital transformation journey 3.
FPT's Vision and Partnerships
FPT Corporation's Chairman, Truong Gia Binh, expressed the company's commitment to developing Vietnam into an AI hub for the region and the world. The project is expected to foster collaborations with international partners, including technology giants and leading universities. These partnerships aim to facilitate knowledge transfer and drive innovation in AI technologies 1.
Implications for Vietnam's Tech Landscape
The establishment of this AI centre is poised to have far-reaching effects on Vietnam's technology sector. It is expected to create numerous high-skilled job opportunities, attract foreign investment, and potentially position Vietnam as a competitive force in the global AI market. The project also aligns with the country's broader strategy to transition from a manufacturing-based economy to one driven by high-tech industries and innovation 2.
Reference
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U.S. News & World Report
|FPT Consortium Commences Work on $173 Million AI Centre in Southern Vietnam
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