HÀ NỘI — Property developer Vingroup on Tuesday announced its plan to produce electronic equipment, starting with the smartphone brand, Vsmart.

Implementing the strategy to expand its industrial production sector following VinFast’s automobile and electric motorbike manufacturing project, Vingroup has set up the VinSmart Joint Stock Company with a charter capital of VNĐ3 trillion (US$131 million).

VinSmart will operate in two main areas: one is the production of smart electronics and the second is researching, experimenting and applying artificial intelligence (AI), automation and new generation materials.

Vsmart’s production plant will be built in accordance with international standards at the VinFast automobile and electric motorbike manufacturing complex in Đình Vũ-Cát Hải industrial park in the northern port city of Hải Phòng.

In terms of technology, Vingroup is working with the world’s leading consulting firms to hire design consultants, seek qualified professionals, acquire design licences for smartphone components and purchase equipment for telephone production. The co-operation with leading partners will ensure that the smartphones are manufactured by using the most modern and advanced technology to optimise efficiency and ensure product quality.

In its second area of operation, VinSmart will also actively study and buy the copyrights of inventions and experiments in Việt Nam to bring these innovations to life.

Nguyễn Việt  Quang, vice chairman cum general director of Vingroup, said the group wanted to invest significantly in the research and application of new technologies to contribute to the emergence of Việt Nam on the world’s technology map. Participating in high-tech and complex sectors, such as smartphone manufacturing, confirms Vingroup’s determination to move towards knowledge- and science-based production that contributes to improving productivity of the domestic economy, Quang added.

By manufacturing smartphones and engaging in experimental research and application of advanced technologies, Vingroup not only plans to build a new future for the Vietnamese industry, but also contribute to the building of a solid knowledge-based economy by capturing the opportunities for growth from the fourth industrial revolution. — VNS