The Low-Altitude Economy Alliance, consisting of FPT and related businesses, is working with Ho Chi Minh City on their target to develop a UAV industry worth $10 billion over the next 10 years, creating around 1 million jobs, Binh told a meeting between city leaders and the science-technology and innovative startup community on Tuesday.

Binh quoted a Japanese partner as saying that Japan is preparing to announce 17 strategic technologies this year. Japan is also shifting its international cooperation strategy - from one-to-one collaboration to broader engagement with Southeast Asian nations, with Vietnam identified as the top priority. One field Japan is highly interested in is the low-altitude economy, though implementation in Vietnam remains challenging due to incomplete regulatory frameworks and administrative procedures.

Binh said he has proactively invited Japanese partners to conduct pilot projects in Vietnam first, and once Vietnam completes its legal framework, these models could then be applied back in Japan.

“Our Japanese partners are aiming not just for bilateral cooperation, but for producing UAVs for the global market,” he added.

However, according to the FPT chairman, the biggest bottleneck at present is the near-complete absence of institutional frameworks.

"Vietnam lacks definitions for sandbox mechanisms, technical standards and regulations, and certifications or origin documentation for UAV activities. Meanwhile, Japan is ready to help Vietnam develop the entire legal structure," he noted.

The FPT chairman proposed that HCMC allow FPT to directly participate in designing the city’s pilot sandbox as a first step before scaling to the national level.

Vietnam’s UAV industry is currently worth only around $100 million per year, but the goal is to increase it 100-fold within a decade. Binh emphasized Vietnam’s advantages in labor costs and software development capabilities - critical factors for global competitiveness.

"Software is an area where we can win on almost any playing field. I believe the low-altitude economy will be the same," he affirmed.

In response to the city leaders’ question about the scope and focus of the low-altitude economy, Binh said that in the long term, UAVs will be part of national defense capabilities, and Vietnam’s biggest opportunity lies in manufacturing for global demand, as supply worldwide is currently scarce.

In terms of application, he said agriculture holds the greatest potential, with several successful real-world models already in operation. UAV delivery services are also feasible if Vietnam develops a standardized digital addressing system for all pickup and drop-off locations.