Insights from Our Vietnam Journey with J3D.AI (Jedi) Labs

We recently returned from an enlightening journey to Vietnam, accompanied by our innovative team at J3D.AI (Jedi) Labs. This trip was part of a broader initiative with the BWA Global Economic Network to deepen our understanding of emerging markets and expand our strategic partnerships. Our recent trip to Vietnam highlights a significant opportunity for J3D.AI to impact global markets. Our delegation's agenda was robust, featuring engagements with both old friends from previous Vietnam trips’, and new potential partners looking for exposure to European Markets. Allow me to share some key insights and reflections from our visit.

Vietnam, with its dynamic economy—ranked among the top 30 globally by purchasing power parity—offered us a canvas of opportunities. The country has sustained an impressive average GDP growth rate of 6% since 2000, reflective of its market potential and burgeoning middle class (compare this to the IMF’s revised GDP Growth expectation of <1% for Germany).

A notable event was our attendance at the office opening of Graf von Westphalen at the influential Deutsches Haus in Ho Chi Minh City. The event, graced by keynotes from German Consular Dr. Josefine Wallat and former Vice Chancellor of Germany, Philipp R?sler, highlighted the deep ties between Germany and Vietnam and the importance of continued economic and cultural exchanges.

As Vietnam transitions from a lower-middle-income to a middle-income country, there is conscious strategizing to navigate the potential 'middle-income trap' that many developing nations face. These economic shifts, compounded by geopolitical tensions between East and West, position Vietnam as a crucial player for companies looking to diversify their manufacturing and business strategies under the 'China Plus One' strategy; adopted by many multinational companies aiming to mitigate the risks associated with over-reliance on China for manufacturing and supply chain operations. The strategy involves diversifying investment and operational presence to include at least one additional country alongside China.

Discussions with Vietnam’s 2nd largest IT services provider, CMC Corporations’s leadership, and the Chairmen of the People’s Committees of Binh Duong and Binh Dinh provinces provided profound insights into Vietnam’s ambitions to expand into European markets and the various investment opportunities these regions offer.

Binh Duong Province is the 3rd largest contributor to Vietnam's GDP, following Ha Noi and Ho Chi Minh City. It is home to 30 industrial parks, and has attracted FDI from more than 60 countries. With the Vietnamese German University (VGU), a 200million USD collaborative project between the World Bank, Germany's state of Hessen, and the Vietnamese Ministry of Education and Training, the economic power house of Binh Duong province has also committed to educating 12,000 young talents by 2030.

In Binh Dinh province, we visited the impressive MerryLand Quy Nhon super project, which will host the Marriott Group's Resort and serve the province's new FDI-incubated projects and talents with high-end shopping and weekend vacation opportunities.

We discussed potential collaborations in areas such as smart manufacturing, investment expansions, and digital upskilling. These sectors represent the future of global economic integration, where technology and tradition merge to create sustainable growth.

The governance of Vietnam, marked by its one-party system, has a significant impact on the country’s economic policies and growth, hence keeping close relationships to the provincial executive organs (the party) is an important strategic stepping stone for success in business in Vietnam.

Participating in the Horasis Global China Leaders Meeting allowed us to contribute European perspectives to critical discussions on global economic strategies. These dialogues were not only enjoyable as always, they are also vital as they enhance our understanding of shared global challenges and foster collaborative approaches to innovation and growth. I chaired a panel on AI Applications, and our excellent panelists shared about challenges and opportunities with regards to building up the national digital tech strategy for Vietnam and the SEA region. I’ll write a separate post sharing insights there. For now, it seems that the main economic growth pockets still lay on the less defensible applications layer, whereas foundational models are rather rare, with VinAI serving as one of the first examples.

The attached images that help us memorize that each step is always a new beginning – and are here to remind us of the power of international cooperation and the human connections that drive our business forward. Making peace more profitable than war by making collaboration more profitable than competition is our mission and vision at J3D.AI.

The Vietnamese ethos of loyalty and commitment mirrors our values at J3D.AI, and these traits are palpable in their approach to business relationships and innovation. As someone with roots in both Germany and Vietnam, I found this visit particularly poignant—a bridge between my heritage and my professional endeavors. The warmth of the Vietnamese business community was heart-felt, reinforcing our commitment to nurturing these relationships and returning soon.

With Vietnam emerging as a key player in smart manufacturing and digital technologies, our platforms and expertise in AI and cybersecurity are perfectly poised to accelerate the nation’s upskilling. As we prepare for the World Economic Forum in January 2025, J3D.AI is eager to continue these vital discussions, utilizing our resources to drive innovation and build sustainable growth in emerging markets.

The road ahead is exciting, and I am eager to share further updates as we continue to explore, innovate, and grow together.

With appreciation and love,

Yip