Vietnam: $24B Bank Bailout & Legislature Chairman Resignation, FPT $6B Tech Conglomerate Growth and Apple Investment & China High-Speed Rail - E416

BRAVE Southeast Asia Tech: Singapore, Indonesia, Vietnam, Philippines, Thailand & Malaysia Startups, Founders and Venture Capital VC

Valerie Vu, Founding Partner of Ansible Ventures, and Jeremy Au discussed three main points:

1. Vietnam $24B Bank Bailout & Legislature Chairman Resignation: Jeremy and Valerie discussed the $12B fraud at Saigon Bank, the death penalty verdict, the appeals process and the closure of 50+ bank branches. The Vietnamese central bank injected $24B of "special loans" to prevent a banking crisis, which reduced the liquidity of their foreign exchange by one quarter. They touched on new political resignations due to the "blazing furnace" anti-corruption campaign, including the Chairman of the National Assembly - one of the country's top 4 leadership positions.

2. Apple Investment & China High-Speed Rail: International investors continue to move capital into the country despite these political shifts, exemplified by Apple's $16B of spending through the local supply chain since 2019, 200,000+ jobs created and increasing their CSR commitments. China is collaborating on cross-border high-speed railways, connecting Vietnam's port cities of Haiphong and Quang Ninh through Hanoi to Lao Cai province, which borders China's Yunnan province, and from Hanoi to Lang Son province, bordering China's Guangxi region.

3. FPT $6B Tech Conglomerate Growth: FPT was founded in 1988 as "Food Processing Technology" and has now become the country's leading software tech conglomerate valued at $6.4B on the Vietnam stock exchange with $1.7B+ of annual revenue operating across 50+ countries. FPT announced its strategic partnership with Nvidia to build a $200M AI R&D factory leveraging multiple Nvidia chips and technology frameworks.

Jeremy and Valerie also talked about why people haven't heard of FPT, why companies actually invest in corporate social responsibility (CSR), and whether they would take the local train from Hanoi to Ho Chi Minh City.

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