FPT accompanies 12,000 VYEA members in digital transformation

Hanoi, November 9, 2022 - At the National Conference Center (Hanoi), the Conference under the theme "Young Vietnamese Entrepreneurs with Digital Transformation" was organized by the Vietnam Young Entrepreneurs Association (VYEA) Central Committee and the Technology and Digital Transformation (TDX) Club. Within the agenda of the Conference, VYEA, VINASA (Vietnam Software & IT Services Association), and FPT Corporation signed a tripartite cooperation agreement. The agreement aimed to promote digital transformation in VYEA's members toward sustainable development and successful digitalization. VYEA has about 12,000 members across 63 provinces and cities nationwide.

Representatives of VYEA, VINASA, and FPT - Mr. Nguyen Van Khoa, CEO of FPT (first row, far right) at the signing ceremony

According to the cooperation agreement, VINASA and FPT will support VYEA's members in digital transformation (DX) with the following activities: Organizing training courses in digital transformation, consulting digital transformation models, and implementing appropriate software solutions and technology applications.

The content of the courses will be designed based on the Digital Transformation Guidance Frameworks for SMEs (26 frameworks for 26 industries) and the specific Digital Transformation Guidance Framework for Manufacturing Enterprises developed by VINASA and leading digital transformation experts in 2021.

With practical experience and diverse platforms and solutions, FPT will play its role as a consulting and implementing firm. Furthermore, it will accompany VINASA and other technology enterprises in developing end-to-end DX solution suites for VYEA's members according to their sizes and domains.

On the other side, VYEA will connect its members to VINASA and FPT while bringing them together to promote DX and enhance their competitiveness for economic growth.

The "Young Vietnamese Entrepreneurs with Digital Transformation" conference had the presence of leaders of the Youth Union Central Committee, the Youth Federation Central Committee, the VYEA Central Committee, the Digital Transformation Strategy Institute (DTSI), representatives of ministries, and more than 300 young local entrepreneurs. The Conference aimed to share helpful information and practical experiences on digital transformation and the "Economy 4.0", helping enterprises analyze opportunities and challenges for best managing the digital transformation process.

An overview of the "Young Vietnamese Entrepreneurs with Digital Transformation" conference that took place on November 8, 2022

Within the framework of the Conference, there were also two seminars named "Spreading the aspirations of Digital Transformation" and "Exploring the Digital Transformation mindset". In those sessions, some key directions of DX issues and specific solutions were clarified to help businesses be more adaptive to the ceaseless transformation of the digital economy. Under the impact of the 4th Industrial Revolution, DX is an inevitable and vital trend for countries, organizations, businesses, and consumers around the world. The enormous changes in labor productivity, consumer demand, behaviors, habits, and new business models reveal the massive impact of digital transformation on social life and industries.

At the seminar with the theme "Exploring Digital transformation mindset", Mr. Nguyen Hoang Minh - CEO of FPT Information System Co., Ltd. (FPT IS - a subsidiary of FPT) - shared his efficient experiences of accompanying various enterprises in the digital transformation journey. He said that Vietnam is gradually transforming into an economy where "digital" factors appear everywhere. As a result, companies are making record-breaking investments in digital transformation, especially in the banking and retail sectors. However, approximately 76% of digital transformation projects end in failure, even in large enterprises, as their investment strategy lacks direction and suitability. Mr. Minh pointed out the "3H + 3S" formula of the FPT Digital Kaizen methodology. Accordingly, in order to implement the "digital revolution", companies need to start their impact on the "Heart" – inspirations and enthusiasm in the entire organization, then the "Head" – strategic orientations, and finally, the "Hand" – action plans. The implementation process includes "3S" phases: Strategy (think big), Start smart and Scale fast. Moreover, the best starting point is choosing the right pain points to solve with ease of implementation and prompt results, which encourages more participation and determines the possibility of further application.

Mr. Nguyen Hoang Minh, CEO of FPT IS, shared his opinions at the seminar named "Exploring Digital transformation mindset"

The Technology and Digital Transformation (TDX) Club also introduced its permanent club members at the event. The Club is an affiliated unit of the VYEA with the mission of gathering young entrepreneurs and enterprises with knowledge, enthusiasm, and aspirations in technology and digital transformation. Joining the Club will allow them to support each other to create more value and facilitate digital transformation. Under the Conference's agenda, the TDX Club signed its first partnership agreement with DTSI to develop a complete set of solutions for businesses according to current circumstances in Vietnam.