FPT and Hue co-drive innovation through technology

Innovation is considered the DNA for development of many countries, including Vietnam. With its political, cultural, economic, and resource advantages, the Central region of Vietnam, typically Hue and Da Nang, can become the heart of innovation strategy. As a leading technology company in Vietnam, FPT Corporation wishes to work side-by-side with Hue in particular and our home country in general to plant innovation incubators for sustainable development.

Hue – Da Nang are potential lands for Innovation Ecosystems in Vietnam

On March 13, the Department of Science and Technology, the Department of Information and Communications of Hue and the National AI Technology Village jointly held a forum named “Promote innovative start-up activities in the IT field and Launch the plan for the Innovative Start-up Competition in Thua Thien Hue province in 2024”.

At the event, Mr. Tran Tuan Anh, Chief Product Officer of FPT IS, shared his views through the presentation “IT growth promotes innovative startups in Thua Thien Hue province” and emphasized that Hue – Da Nang’s conditions are very favourable for building Innovation Ecosystems in Vietnam, following the model of Silicon Valley.

Mr. Tran Tuan Anh, Chief Product Officer of FPT IS, expressed that Hue – Da Nang possesses considerable advantages to become Vietnam’s Silicon Valley.

Just 100km apart, with good services and quality of life, the two provinces can attract talents and investment capital from leading universities (Hue University, FPT University), utilize IT infrastructure (FPT R&D Center in the Central Region), and enjoy favorable regulations and legal frameworks from the Vietnamese government.

To leverage its strengths of human resources, infrastructure and innovation development policies, Hue needs joint effort and cooperation from the Vietnamese government, people, and especially from reputable technology companies and partners.

How to foster innovation?

As a tech giant in Vietnam and the region, FPT knows without a doubt the importance of innovation development.

According to a report by the National Innovation Center (NIC), innovation brings positive impacts to the national economy, contributing up to 95% to the competitiveness of the economy. 66% of innovation value will affect people’s lives, and 65% of universities and research institutes will participate in innovation activities.

Innovation through science and technology is believed to be the key to helping Vietnam free itself from the middle-income trap and will soon reduce the country’s dependence on low technology and resources. As a result, the factors that stimulate innovation effectively in Vietnam are being perfected.

FPT reckons that the determination of leaders and a culture of creativity among the entire population are prerequisites for the growth and spread of innovation DNA in Hue.

The corporation is ready to become a partner of Hue to unlock and exploit all of the province’s potential. FPT has been nurturing the entrepreneurial spirit within our organization, encouraging individuals and teams to think up ideas, research and create new solutions through R&D policies, our annual innovation program, iKhien, and human resource retention and development strategies. These efforts have enabled FPT to launch over 4,500 initiatives to date. The “Made by FPT” ecosystem is continuously being expanded with more than 200 high-quality products and services brought to the market, fulfilling the demands of localities, domestic and international customers.

Technology is ready for innovation

During its 35 years of establishment, FPT has taken the lead in diverse aspects such as bringing technology solutions to life in Vietnam, exporting software to mark Vietnam on the world digital map, and building a model of practical, hands-on learning, to serve and bring prosperity to the nation.

In particular, the corporation has been developing BOT and PPP-based digital transformation investment mechanisms tailored for localities. For instance, the electronic train ticket system developed by FPT won Top 10 Sao Khue Awards thanks to the adoption of the new investment mechanism with super quick implementation time and growth to 15 million users in the first year.

As the demand for identity verification through chip-based ID cards rises, FPT IS has researched and developed FPT.IDCheck – an anti-fraud solution for digital identity verification, and FPT.IDReader – a chip-based ID card reader. The solution suite features facial recognition and up to 100% verification accuracy, enabling its application in a variety of fields like Banking – Finance, Insurance, E-commerce, Real Estate, to name a few, as well as in any businesses and units with desires for identification such as schools, notary offices, hospitals, etc.

The “Made by FPT” solution ecosystem solves social problems.

In education, more than 20,000 candidates attending the critical thinking assessment exam of Hanoi University of Science and Technology in 2023 had their identity verified via chip-based ID cards. In banking, 11 financial organizations and banks use FPT.IDCheck to verify their customers for remote account opening or loan services, strongly boosting the development of digital banking.

In 2023, FPT IS’s Robotic process automation (RPA) solution – akaBot won the Innovation Star Award of the Vietnam Ministry of Planning and Investment. Equipped with the capability of imitating human gestures and mass performing repetitive tasks, over 10,000 virtual robots of FPT akaBot have been provided to more than 3,900 businesses in 21 countries.

FPT IS also pioneers the creation of the digital authentication and transaction ecosystem in Vietnam, with multiple solutions including Electronic Contract – FPT.eContract, Electronic Contract Authentication System – FPT.CeCA, Digital Signature – FPT.eSign, etc. The solution ecosystem developed by FPT IS helps businesses save operating costs, reduce transaction times, and ensure legality.

In the three years since its launch, FPT.eContract has been used in over 3 million transactions, by more than 5 million signing partners and more than 2,000 business customers. The product won a number of major awards, namely Top 24 Innovative Solutions in the Vietnam Innovation Challenge Program (2023), Make in Vietnam Awards (2021).

FPT.eSign is the leading digital signing service in the Vietnamese market, accounting for over 70% market share and annually issuing more than 10 million digital certificates. This solution is becoming the choice for electronic transactions in all fields such as banking – finance, insurance, securities, real estate, tax, treasury, customs, etc.

To maximize the advantages mentioned, FPT will constantly strive to produce technology solutions for fast, effective and reliable transactions between the Vietnamese Government, people and businesses, contributing to the development of Digital Government, Digital Society, and Digital Economy in Vietnam.