Vingroup and FPT Forge a Holistic Collaboration Agreement

On April 11, 2024, Vingroup and FPT Corporation formally inked a sweeping cooperation agreement to foster green transformation within Vietnam. This accord not only heralds opportunities for the member companies of both parties to collaboratively establish esteemed, globally recognized Vietnamese brands but also underscores the conscientiousness and societal commitment of both entities toward sustainable development goals.

Per the terms outlined in the cooperation agreement, Vingroup, FPT Corporation, and their respective subsidiaries are poised to collaboratively cultivate prospective projects aimed at delivering substantial societal benefits in an environmentally conscious and sustainable manner. Notably, Vingroup pledges its backing and intends to prioritize the technology products and services offered by FPT, aligning them with the requisites of the Group and its affiliated entities. Concurrently, Vingroup commits to facilitating FPT to broaden its clientele base to include Vingroup employees.

The smart electric car manufacturer VinFast - a member of Vingroup - prioritizes the utilization of FPT's automotive software technology services, along with its IT infrastructure and equipment supply services. FPT lends its support to the Green Transformation strategy and initiatives of Vingroup, especially VinFast. FPT will coordinate the communication and promotion efforts for VinFast electric vehicles and other Vingroup eco-friendly products among its employees and member companies. Furthermore, FPT will orchestrate test drive initiatives to enhance public awareness regarding the advantages of electric vehicles over conventional gasoline-powered cars, contributing to the green transformation movement.  

Mr. Nguyen Van Khoa - CEO of FPT Corporation - signed the cooperation agreement with Mr. Nguyen Viet Quang - CEO of Vingroup.

Addressing the attendees at the signing ceremony, Mr. Nguyen Viet Quang, CEO of Vingroup, articulated: "Green transformation stands as a pivotal policy imperative that Vietnam is steadfastly pursuing, aligning with the overarching objective of achieving Net Zero emissions by 2050 - a commitment our Government pledged at the COP26 Conference in combating global climate change. Mindful of their roles and responsibilities, Vingroup and FPT Corporation have formalized a comprehensive cooperation agreement to advance green transformation initiatives in Vietnam. This collaborative endeavor signifies our alignment with the Government and the populace in fostering a sustainable, eco-friendly future. This accord also optimizes the synergies between the two entities, fostering mutual support to bolster their presence in the global market and establish distinguished Vietnamese brands within industry and high technology."

Mr. Nguyen Van Khoa, CEO of FPT Corporation, expressed, "FPT and Vingroup are aligned in our vision for sustainable green development and our aspiration for global outreach. Over the past 35 years, FPT has consistently enhanced its managerial proficiency to adhere to the most advanced sustainable development benchmarks. In 2023, FPT emerged as the sole technology stock included among the 20 component stocks of the VNSI index (Sustainable Development Index), as appraised by the Ho Chi Minh City Stock Exchange (HoSE). Committed to leading initiatives in Vietnam aimed at mitigating the impact of greenhouse gas emissions, FPT aims to achieve Net Zero emissions by 2040. Additionally, it aspires to influence the living, working, and learning environments of over 1 million workers by 2035. We firmly believe this all-encompassing cooperation agreement will be pivotal in effecting tangible and positive changes in Vietnam's Green Transformation journey. Moreover, it will afford both parties enhanced opportunities for robust growth."  

Mr. Nguyen Van Khoa - CEO of FPT Corporation - discussed cooperation opportunities with Mr. Nguyen Viet Quang - CEO of Vingroup.  

Presently, FPT is channeling its efforts toward advancing the automotive technology sector, boasting a team of 4,000 experts and cultivating numerous partnerships with esteemed global brands. In 2023, FPT established FPT Automotive, headquartered in Texas (US), intending to capture the global automotive software market valued at hundreds of billions of USD. Simultaneously, VinFast, the pioneering smart electric car brand of Vingroup, is experiencing robust expansion across all continents with two manufacturing facilities under construction in the US and India and an extensive business network spanning North America, Europe, Asia, and Africa. Notably, VinFast's state-of-the-art manufacturing facility in Vietnam spearheads producing electric cars, electric motorbikes, electric bicycles, and electric buses destined for the global market.

As trailblazing entities in establishing esteemed national brands within the domains of industry and high technology on a global scale, the cooperation agreement between Vingroup and FPT not only unlocks new opportunities for both parties but also underscores the profound sense of responsibility and unwavering commitment of these two corporations toward the shared objectives of the nation. In 2023, Vingroup took a significant step by establishing the "For Green Future" Foundation to execute environmental initiatives, with funding derived from the business activities of member companies specializing in eco-friendly products and services.

FPT Corporation has embarked on numerous impactful initiatives to pursue the Green Transformation objective, setting a target to curtail total greenhouse gas emissions by 15.8% by 2030. Notably, FPT assumes a pioneering role as a consulting enterprise and a provider of digital transformation and green transformation solutions for organizations and businesses. In the realm of green transformation, FPT has crafted holistic ESG solutions, including consultancy services for developing ESG implementation roadmaps and VertZéro, a greenhouse gas inventory solution. These solutions aid businesses in automating and digitizing the entire process of data collection, calculation, management, report generation, and progress monitoring in fulfilling commitments, thereby ensuring adherence to international standards.