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Tatler Asia
29-04-2025
- Business
- Tatler Asia
Legacy 50: Memoirs 'From Ben Hai River to Independence Palace' shared by the son of Major General Hoang Dan, Former Chairman of FPT Software
Taking on leadership roles at FPT Software, FPT Telecom, and now guiding educational initiatives at FPT Education, what lasting lessons do you believe today's leaders can draw from your father's generation, particularly in light of Vietnam's increasing engagement on the global stage? The history of our nation's struggle, through two major resistance wars, has offered countless lessons. Among them, perhaps the most enduring is the value of foresight—the ability to recognise opportunity, respond with agility, and act decisively to accelerate victory and protect the lives of soldiers. In today's fast-evolving world, the clarity of vision expected from a leader is more crucial than ever. Every decision carries weight—not only for the organisation and its workforce but for the families behind each individual. A misstep can have lasting repercussions. April 30 not only marked the end of conflict, but also the beginning of a new era of national innovation. With your background in technology and a forward-thinking mindset, what do you see as the most significant 'innovation lesson' Vietnam has learnt—and continues to learn—from its past? To me, it is the lesson of 'thinking differently—doing differently.' In the complex global context of the last century, where opposing interests and ideologies collided, achieving peace was no easy task. Yet, with a clear commitment to unity and sovereignty, our Party and armed forces made the bold decision to liberate the South—not eventually, but by the rainy season of 1975. That determination, that distinct way of thinking, is what led to the momentous events of 30 April. It reflected the will of the leadership, and the collective yearning for peace across the nation. That same mindset emerged once again when Vietnam swiftly entered the renovation period, guided by the late General Secretary Truong Chinh's decision to transform the economic model—even as other socialist states were grappling with upheaval. Today, we continue to see that spirit of innovation, from the restructuring of provinces and municipalities to the national movement for 'Digital Literacy for the People.' These are not surface-level shifts, but deep and determined efforts to prepare the nation for a new era shaped by artificial intelligence and rapid change. It speaks to the vision of our leaders, and the readiness of the people, working together to move forward. A powerful lesson from our history is the art of uniting the people towards a common cause, what we call a people's war. Vietnam, a small country, has triumphed over much larger forces not by relying on the latest weapons or technologies, but through unity. That strength came from the people—their resolve, their support, their shared commitment. In 1941, when President Ho Chi Minh returned to lead the revolutionary movement, he famously said, 'When the masses are highly enlightened, we will have weapons.' He also reminded us: 'A hundred times easier without the people, we can endure. Ten thousand times harder, we can overcome'—a thought that has echoed through generations. When we, at FPT, entered the business world, that same spirit was with us. Whether we were working with global corporations or launching software projects, we moved as one—from the Chairman to the cleaning staff. We were united by a shared ambition: 'Go global.' It was never just about earning a living. It was about contributing our knowledge and effort to place Vietnam firmly on the world map. Read more: Legacy 50—Four Vietnamese brands and their stories of rising to international prominence after the smoke cleared
Yahoo
18-04-2025
- Business
- Yahoo
Vietnam's public security ministry aims to take majority stake in internet firm, document shows
By Phuong Nguyen and Francesco Guarascio HANOI (Reuters) - Vietnam's Ministry of Public Security plans to take a majority stake in FPT Telecom, one of the country's largest internet providers, as part of its efforts to boost national cybersecurity, according to a document seen by Reuters. The ministry, which oversees the police, has become increasingly involved in Vietnam's internet and telecoms sector. It took control of the country's third-largest telecoms operator, MobiFone, last year and also spearheaded a tightening of data protection rules that has caused concerns among foreign tech firms. Under the plan, Vietnam's State Capital Investment Corporation (SCIC), a holding company for assets controlled by the state, will transfer its stake in FPT Telecom to the ministry, the document showed. SCIC owns 50.17% of FPT Telecom, while FPT Corp, Vietnam's largest private tech company, has a 45.66% stake but retains control of the unit, according to FPT Telecom's financial statements for last year. Reuters was not able to ascertain whether the transfer would lead to the ministry taking effective control of FPT Telecom. The public security ministry did not reply to a request for comment. FPT Corp said it currently had no information to share on the matter. The finance ministry, to which the plans have been submitted, also did not reply to a request for comment. Shares in FPT Corp tumbled nearly 7% on Wednesday, the day after the document was submitted. An investor in FPT Corp and a broker said the slide was caused by uncertainty over the future of FPT Telecom which is an important source of revenue for the group. The shares have pared some of those losses since then and are now down 2.8% compared to Tuesday's close. In addition to providing internet services, FPT Telecom is involved in the development of undersea fibre-optic cables, which Communist-run Vietnam considers a national priority as most of its existing cables are ageing and prone to accidents. The transfer "will contribute to the good performance of the functions and tasks of the Ministry of Public Security", the document dated April 14 said. It listed the protection of data and the monitoring and prevention of cyber risks as core functions of the ministry. The document urges the finance ministry to seek the prime minister's approval for the plan. Vietnam's largest telecoms operator, Viettel, is owned by the defence ministry, while the second-largest, Vietnam Posts and Telecommunications Group (VNPT), is controlled by the SCIC, which is overseen by the finance ministry.
Yahoo
18-04-2025
- Business
- Yahoo
Vietnam's public security ministry aims to take majority stake in internet firm, document shows
By Phuong Nguyen and Francesco Guarascio HANOI (Reuters) - Vietnam's Ministry of Public Security plans to take a majority stake in FPT Telecom, one of the country's largest internet providers, as part of its efforts to boost national cybersecurity, according to a document seen by Reuters. The ministry, which oversees the police, has become increasingly involved in Vietnam's internet and telecoms sector. It took control of the country's third-largest telecoms operator, MobiFone, last year and also spearheaded a tightening of data protection rules that has caused concerns among foreign tech firms. Under the plan, Vietnam's State Capital Investment Corporation (SCIC), a holding company for assets controlled by the state, will transfer its stake in FPT Telecom to the ministry, the document showed. SCIC owns 50.17% of FPT Telecom, while FPT Corp, Vietnam's largest private tech company, has a 45.66% stake but retains control of the unit, according to FPT Telecom's financial statements for last year. Reuters was not able to ascertain whether the transfer would lead to the ministry taking effective control of FPT Telecom. The public security ministry did not reply to a request for comment. FPT Corp said it currently had no information to share on the matter. The finance ministry, to which the plans have been submitted, also did not reply to a request for comment. Shares in FPT Corp tumbled nearly 7% on Wednesday, the day after the document was submitted. An investor in FPT Corp and a broker said the slide was caused by uncertainty over the future of FPT Telecom which is an important source of revenue for the group. The shares have pared some of those losses since then and are now down 2.8% compared to Tuesday's close. In addition to providing internet services, FPT Telecom is involved in the development of undersea fibre-optic cables, which Communist-run Vietnam considers a national priority as most of its existing cables are ageing and prone to accidents. The transfer "will contribute to the good performance of the functions and tasks of the Ministry of Public Security", the document dated April 14 said. It listed the protection of data and the monitoring and prevention of cyber risks as core functions of the ministry. The document urges the finance ministry to seek the prime minister's approval for the plan. Vietnam's largest telecoms operator, Viettel, is owned by the defence ministry, while the second-largest, Vietnam Posts and Telecommunications Group (VNPT), is controlled by the SCIC, which is overseen by the finance ministry. Sign in to access your portfolio
Reuters
18-04-2025
- Business
- Reuters
Vietnam's public security ministry aims to take majority stake in internet firm, document shows
HANOI, April 18 (Reuters) - Vietnam's Ministry of Public Security plans to take a majority stake in FPT Telecom, one of the country's largest internet providers, as part of its efforts to boost national cybersecurity, according to a document seen by Reuters. The ministry, which oversees the police, has become increasingly involved in Vietnam's internet and telecoms sector. It took control of the country's third-largest telecoms operator, MobiFone, last year and also spearheaded a tightening of data protection rules that has caused concerns among foreign tech firms. Under the plan, Vietnam's State Capital Investment Corporation (SCIC), a holding company for assets controlled by the state, will transfer its stake in FPT Telecom to the ministry, the document showed. SCIC owns 50.17% of FPT Telecom, while FPT Corp ( opens new tab, Vietnam's largest private tech company, has a 45.66% stake but retains control of the unit, according to FPT Telecom's financial statements for last year. Reuters was not able to ascertain whether the transfer would lead to the ministry taking effective control of FPT Telecom. The public security ministry did not reply to a request for comment. FPT Corp said it currently had no information to share on the matter. The finance ministry, to which the plans have been submitted, also did not reply to a request for comment. Shares in FPT Corp tumbled nearly 7% on Wednesday, the day after the document was submitted. An investor in FPT Corp and a broker said the slide was caused by uncertainty over the future of FPT Telecom which is an important source of revenue for the group. The shares have pared some of those losses since then and are now down 2.8% compared to Tuesday's close. In addition to providing internet services, FPT Telecom is involved in the development of undersea fibre-optic cables, which Communist-run Vietnam considers a national priority as most of its existing cables are ageing and prone to accidents. The transfer "will contribute to the good performance of the functions and tasks of the Ministry of Public Security", the document dated April 14 said. It listed the protection of data and the monitoring and prevention of cyber risks as core functions of the ministry. The document urges the finance ministry to seek the prime minister's approval for the plan. Vietnam's largest telecoms operator, Viettel, is owned by the defence ministry, while the second-largest, Vietnam Posts and Telecommunications Group (VNPT), is controlled by the SCIC, which is overseen by the finance ministry.
