FPT began its global journey in 1998. What key lessons can Vietnamese digital tech companies draw from its experience?

To go global, businesses must stay committed. In the early days, pioneering Vietnamese companies like FPT faced immense skepticism and a lack of policy support. We chose software exports as our entry point, at a time when Vietnam’s information technology (IT) industry was virtually unknown. Many questioned whether we could succeed. But we remained steadfast, willing to take risks and step out of our comfort zone.

Initially, like many others, we also chased short-term gains. But we soon realized that true, lasting growth comes from building long-term value. That’s when FPT committed to competing globally through Vietnamese intellect and capability, a choice that proved vital to our success.

Our people have also been a key driver. We built a team willing to do what others wouldn’t, embracing uncertainty and even failure to unlock opportunities. Sustainable growth requires a shared vision and top talent.

Global expansion demands a skilled workforce. That’s why we invested early in training tech talent in Vietnam. Today, as global demand for AI-capable talent surges, Vietnam, with its young and tech-driven population, has a unique opportunity. This is where FPT aims to lead in the AI era.

So tech talent is now Vietnam’s key advantage in going global?

Absolutely. Leading economies like the US, Europe, Japan, and South Korea are grappling with aging populations. In contrast, Vietnam holds a golden advantage: a young, tech-savvy population with ambition and a strong passion for innovation.

This isn’t just an opportunity, it’s Vietnam’s moment to position itself as a global hub for high-quality tech talent, particularly in AI and semiconductors. In this context, FPT has set a target of equipping 500,000 people with AI knowledge and skills and training 10,000 semiconductor engineers by 2030.

But talent alone is not enough. For Vietnamese tech companies to truly break through, significant investment in research and development (R&D) is essential. The level of R&D investment must be high enough to drive real differentiation and turn ambition into reality.

How much has FPT invested in R&D?

We allocate around 5 per cent of our pre-tax profit to R&D. At the same time, we’re moving up the technology value chain, especially into product development.

From Day 1, FPT aspired to become a new-generation company powered by innovation and technological excellence, contributing to national prosperity through science and engineering. We were born a tech company.

Politburo Resolution No. 57-NQ/TW marked a turning point, a rallying call that assigned tech companies like FPT the responsibility to accelerate the development of “Made in Vietnam” digital products.

Science and technology have never been as central to Vietnam’s national development strategy as they are today. For FPT, this is both an opportunity and a powerful motivation to nurture and unleash our “innovation gene”, and to continue leading as a pioneer in the innovation ecosystem. We are committed to doing what hasn’t been done before, driving innovation to contribute to the nation’s growth.

Still, R&D requires more than just funding, it needs exceptional talent, both domestic and international. We are seeking like-minded partners, people who think big, act boldly, and are willing to tackle the toughest challenges others shy away from.

It took FPT 24 years to reach $1 billion in revenue from global IT services, in 2023. Do you think that’s too long for a digital tech company to build its prestige on the world stage?

Over 25 years ago, when FPT began its globalization journey, Vietnam still had a question mark hanging over it in the eyes of the world. Many clients we met would ask, “Where is Vietnam? Is there still a war going on?” Things have changed dramatically since then. Today, Vietnam has a much stronger international presence and reputation. This progress provides a solid foundation for Vietnamese enterprises to expand globally.

Beyond improved positioning, businesses now benefit from robust policy support. The “Four Pillars” - Resolution No. 57 on science and technology, innovation, and digital transformation; Resolution No. 59-NQ/TW on international integration in the new context; Resolution No. 66-NQ/TW on reforming law-making and enforcement activities to meet national development requirements in the new era; and Resolution No. 68-NQ/TW on the development of the private sector - place enterprises, science, and technology at the center of Vietnam’s development in the new era. These resolutions emphasize creating the right conditions - through policy mechanisms and national-scale challenges in science, technology, innovation, and digital transformation - for tech companies to tackle and use as springboards for global growth.

That’s why I believe today’s companies don’t need 25 years to globalize. The opportunities are right in front of us. What matters is the courage to take the leap and step beyond the comfort zone.

One of the most accessible paths for Vietnamese companies to go global is through IT services. However, if we truly aim, like Politburo Resolution No. 57 envisions, for Vietnamese digital tech firms to stand alongside global leaders, we must create products that are used worldwide.

The tech sector comprises two core areas: services and products. Services are like “selling everyday meals”; they bring in steady revenue and are always in demand. But if you want to do something great, something transformative, you must build products. Products are like selling “signature delicacies” - just one remarkable creation can establish your name and earn global recognition.

I often joke that technology is like composing music: you only need to write one classic to leave a legacy. In technology, one outstanding product, one that carries your own “national signature”, can earn lasting global respect and fuel sustainable growth for generations.

In your view, how many Vietnamese digital tech companies have achieved international recognition or are on par with global players?

Vietnam already has more than five strong tech brands with a global presence. In addition to FPT, Viettel, and VNPT, we also have CMC, TMA, KMS, as well as unicorns like VNG and Sky Mavis. However, the national vision is to develop five tech companies that are globally competitive by 2030 and ten by 2045.

From my perspective, being on par with global players means being comparable in terms of scale, market share, and technological advancement. Achieving that requires significant effort, and the four key policy resolutions will help accelerate this goal.

To become a global tech company, one must create products used worldwide. It’s not easy. Even leading tech nations like Japan or South Korea have only a few globally-recognized products. But if Vietnamese companies truly want to grow, we must aim for that.

How should Vietnamese tech companies create products to go global?

There are two main ways to get there. One is through market-driven innovation, where businesses create solutions based on real demand. The other is government-led, where the State defines major national challenges and enables private sector participation through public-private partnerships. The latter approach, though promising, is still uncommon in Vietnam.

In 1992, when South Korea decided to build Incheon International Airport, serving Seoul, it could have hired foreign contractors. Instead, it gave domestic companies the opportunity. The result was the Korea Airport Engineering Corp, a consortium of South Korean firms that successfully delivered the project. Vietnam needs similarly bold, long-term thinking.

Politburo Resolution No. 57 sets out a clear direction, allocating 2 per cent of GDP for R&D and 3 per cent for innovation. Many still see technology as just a tool for governance. But if we fully understand the Resolution, that mindset must shift. Technology is no longer optional or external, it is fundamental to national management.

One point in the Resolution that particularly resonates with us is the emphasis on institutional and policy reform as the foundation of national competitiveness. It is a strategy for the future, designed to lead Vietnam into “The era of the nation’s rise”.

The framework is in place. The question now is how it will be implemented, what challenges will be identified, and which companies will be entrusted to take them on.

Politburo Resolution No. 57 is a long-term strategy designed to shape the future. What should Vietnam be doing now to build that future for its tech sector?

People often overlook that “science” comes before “technology” because the core of technology is science. And industrial production is where science shows its true value.

Vietnam already holds core technologies in key sectors such as steelmaking, construction materials, wood processing, brick, concrete, and road building, all of which contribute directly to GDP. However, we still rely heavily on imported machinery.

To change that, we must invest seriously and systematically in science and technology, and that begins with education.

FPT believes a fundamental shift in mindset is needed, especially in tech education, along with a stronger role for private education. We need more practical training, stronger capacity in innovation, and greater internationalization of our workforce to develop globally-competitive talent.

Many universities remain disconnected from real-world needs, with limited engagement in scientific research or links to industry. At the general education level, we should prioritize natural sciences, technology, robotics, STEM (Science, Technology, Engineering, and Mathematics), and data literacy from an early stage.

South Korea offers a valuable example. It prioritized science and technology education early on and invested heavily in domestic capabilities. Today, South Korean technology has surpassed even Japan’s in several fields.

For Vietnamese businesses, this is a golden window to invest long-term in technology. We can’t keep chasing short-term gains or temporary trends that eventually burn out.

Politburo Resolution No. 57 calls on Vietnamese tech companies to proactively reach global markets. To do that, our thinking must evolve. Diplomacy should no longer be seen as the government’s job alone, it must become a core skill for businesses. Economic diplomacy, especially in tech, when done properly and proactively, can open doors to global markets. Today, tech companies benefit from strong backing by government agencies, associations, and especially the Ministry of Foreign Affairs. In many key markets, Vietnamese ambassadors are already acting as “technology ambassadors”.

It’s worth noting that most Vietnamese businesses still join diplomatic delegations primarily to buy. But Politburo Resolution No. 57 envisions our tech enterprises standing shoulder-to-shoulder with global peers. That means we must bring value to international customers. Economic diplomacy is no longer optional; it’s essential, and businesses must take the lead.

For example, during Party General Secretary To Lam’s recent State visit to Indonesia, FPT signed a $67 million framework agreement with KMP Aryadhana, one of Indonesia’s top innovation firms. Shortly after, at the Vietnam-France Business Forum in Paris, where Prime Minister Pham Minh Chinh was in attendance, FPT was named the Global Strategic Technology Partner of Airbus.

Vietnam’s position on the world stage has changed, and so has the role of our tech companies.

What qualifies a company as being on a “global scale”?

In my opinion, to be considered a global tech enterprise, a company must first achieve at least $1 billion in revenue. But more importantly, that revenue should come from high value-added, intellectual property-driven products, rooted in research and innovation, not from simple trading or resale activities.

The $1 billion milestone is critical. Reaching it is a complex journey, but once a company hits that mark, scaling up to $2 or $3 billion becomes significantly more feasible.

Beyond revenue, a global enterprise must also operate across multiple countries, have strong R&D capabilities, own patents, develop innovative and core technologies, and hold a place in regional or global rankings.

Technology is evolving rapidly, and I believe AI presents a window of opportunity for Vietnam in the short, mid, and long terms. AI has been identified as the most critical among the eleven strategic technology industries outlined in Decision No. 1131/QD-TTg dated June 12, 2025. In the longer term, semiconductors will play a central role. FPT has proactively invested in R&D and is actively building capacity in seven of those industries, including AI and semiconductors.

From a business perspective, do you think the government needs to introduce additional policies or incentives to help tech enterprises accelerate?

With the recent release of the four breakthrough Politburo Resolutions mentioned above and Decision No. 1131, I believe Vietnamese tech companies already have sufficient leverage to accelerate. From our perspective, these central-level strategic frameworks reflect strong political will and forward-thinking leadership.

One particularly encouraging sign is Resolution No. 68, which affirms that the private sector is not just a component of the economy but a primary driver of growth and innovation. Private enterprises are being empowered to grow stronger, participate in national-level projects, and act as a cornerstone of Vietnam’s prosperity.

This marks a major shift in development thinking. That said, for policies to truly become growth engines, we must avoid adding bureaucratic hurdles or regulatory burdens that hinder innovation.

The Resolutions are clear, comprehensive, and transformative. Now what’s needed is swift, unified, and decisive implementation across the entire political system to turn policy spirit into tangible action.

The government should expand the policy space and give priority to Vietnamese tech products and companies in large-scale projects, especially public investment and national programs. A robust and open domestic market is essential. Without it, Vietnamese enterprises lack the foundation to go global. If we look back, every major global tech company, from the US to China to South Korea, began with a domestic market that served as their strategic launch pad.

In addition, the government must invest heavily and strategically in critical digital infrastructure such as 5G networks, big data systems, and cloud computing. These are essential for the growth of the digital economy.

More importantly, breakthrough incentive policies must be rolled out quickly. These should go beyond financial support to include regulatory sandboxes, tax incentives, and digital transformation promotion mechanisms tailored to each economic sector. Only then can we truly empower enterprises to adopt and develop digital technologies at scale.