Investment Project Proposal

(Applicable to projects that are not subject to the Decision on Investment Policy – Clause 2,
Article 37 of the Law on Investment)

THE SOCIALIST REPUBLIC OF VIETNAM

Independence – Liberty – Happiness

INVESTMENT PROJECT PROPOSAL

(Attached to the written request for implementation of the investment project

March 15, 2023)

I. INVESTOR'S NAME:

1. OpenAI

2. Microsoft Corporation in Vietnam

3. FPT Corporation

It is proposed to invest in and implement a project on applying AI to the e-government

system in Vietnam with the following contents:

II. PROPOSED IMPLEMENTATION OF INVESTMENT PROJECTS WITH THE

FOLLOWING CONTENT :

1. Name and location of project:

1.1. Name of project : Soft Door

1.2. Location of project : Microsoft Vietnam headquarters - Capital Place Building, 29

Lieu Giai, Hanoi

93 Nguyen Du Street, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam.
 2. Project objective:

No. Operational Major name Major Major CPC (*)

goals (Insert name of code
(For major with a
industry level 4 according
CPC code, if
according to to VSIC
applicable)
VSIC) (Major
code level
4)
Information
technology
6209
Software 842 - 841 - 845 -
technology 843

Date analysis

Customer
relationship
0111
Marketing
8110

1 Energy and water 3511

2 Build, plan, and 4229

set up
infrastructure

3 Transportation 4933
 4 Public Safety and 8423
Legal

5 Tourism, 8890
entertainment and
culture

6 Education 8560

7 Health and social 8890

services

8 Public 7830
administration
managemnet

9 Cyber security 8423

3. Investment regulations:
- Products provided: Soft Door application - legal and demographic management system

Project objectives:

1) Upholding the people's moral values and freedom of speech while ensuring that
people comply with the laws and the state's constitution.
2) Developing an AI-based open e-government system for the Socialist Republic of
Vietnam.
3) Safe, reliable and user-friendly system design.
4) System integration with existing government information and services.
5) Facilitate communication between citizens and government officials.
6) Ensure the system complies with all relevant laws and regulations.
- Scale: The application will be deployed in Vietnam, used on all operating
systems including IOS and Android, Window,...
4. Investment capital:

4.1. Total investment capital: Three hundred fifty-three thousand six hundred and sixty-
two billion five hundred million dong and equivalent to fifteen billion US dollars, of
which:

a) Fixed capital: One hundred and forty four thousand four hundred and sixty five billion
dong, equivalent to 6 billion US dollars.

b) Charter capital:

• Hardware: 500,000,000 USD

• Software: 409,000,000 USD

• License: 250,000,000 USD

• Training: 150,000,000 USD

• Maintenance: $180,000,000

• Consulting: 370,000,000 USD

• Total: 1,859,000,000 USD

4.2. Investment funds:

a) Contributed capital to implement the project (detailed by each investor):

No. Investor's Contributed capital Ratio Method of

name (%) capital
VNĐ USD
contribution
equivale
(*)
nt

1 Microsoft One hundred thirty- 5.6 40% Collect cash

two thousand zero billion Collect data
hundred thirty-four
billion Vietnamese
 Dong

2 Open AI One hundred thirty- 5.6 40% Collect data

two thousand zero billion Contribute
hundred thirty-four software
billion Vietnamese
Dong

3 FPT Sixty-six thousand 2.8 20% Fundraising

zero hundred billion for media
seventeen billion Collect data
Vietnam Dong

NOTE:

Capital contribution in cash: Three hundred fifty-three thousand six hundred and sixty-
two billion five hundred million dong.

Data capital contribution: With more than 20 years of experience working in the Socialist
Republic of Vietnam, Microsoft will support Open AI with information about the
government, ministries and departments based on projects that Microsoft has contracted.
cooperate with ministries, departments and branches of the Socialist Republic of
Vietnam.

Contributing capital to the media: FPT Corporation will support Soft Door software
communication in the Vietnamese market and cooperate with Microsoft Corporation to
train human resources in the field of information technology and develop AI technology
for the government. Socialist Republic of Vietnam. In addition, with the strength of being
a domestic company that understands the Vietnamese market, FPT will support OpenAI
in researching and developing projects in the Vietnamese market.

5. Project implementation/activity duration: 2022-2027

6. Project implementation schedule

- June 2022 - August 2022 market research: what does the Socialist Republic of Vietnam
need? What resources do I promote? based on the available premise is the City Next
project

- September 2022 - November 2022 based on information, make a plan group, make a
general plan.

- December 2022 - February 2023 survey the market to find out the feasibility of each
step of the plan compared to reality, giving detailed plans for each stage of
implementation.

- March 2023 censored the entire plan. Leaders read papers signed and stamped for
censorship. Submit application documents to the relevant ministries.

- April-May 2023: conveying information to all human resources, dividing human

resources. Based on the budget to divide the implemented capital.

→ After 12 months of implementing the plan, the issues are: plan, personnel, capital,
documents. Officially kick off the project as planned.
- From June to December 2023, the project will be built. Based on the proposed plan,
experts and human resources to build the project

- March 1, 2024 test run, give the software to the target group to use and test it

- April-May 2024 edit, summarize test run errors, complete the project 100%

→ After 11 months of implementation, the project will be put into operation

- From June to December 2024 to communicate and mobilize nationwide to use the
software

- After 2 years and 5 months, SOFT DOOR is used nationwide by the Socialist Republic
of Vietnam.

7. Labor demand:
- Microsoft will support OpenAI and the Government of the Socialist Republic of
Vietnam in providing high-quality AI human resources and training personnel for the
Socialist Republic of Vietnam during the period of time. contract extension.

- FPT will support human resources for OpenAI during the implementation of the Soft
Door project in Vietnam, specifically in manufacturing, testing and operating software
according to the project implementation plan. In addition, FPT will work with Microsoft
to train AI human resources at FPT universities and colleges

8. Assessment of the project's socio-economic impacts and efficiency:

Up to now, Vietnam has made some achievements in the field of AI, but according to the
overall assessment, the development of AI in Vietnam is still quite low compared to
developed countries. other in the world.

With Microsoft's position as one of the world's largest technology corporations along with
the cooperation with Open AI and FPT to deploy Soft Door software to help the
Vietnamese Government uphold moral values and freedom of expression. of the people
but still ensuring that the people comply with the laws and the constitution of the state.
Soft Door is being assessed by AI researchers and information technology strategy
researchers as having great potential for development in Vietnam.

9. Explanation of the satisfaction of investment conditions applicable to foreign

investors: The participating parties (Microsoft, OpenAI and FPT) bid for a project on
applying AI to the e-government system in Vietnam with the name called Soft Door will
not be allowed to ally or associate with two other bidding enterprises, Viettel and VNG in
the process of participating in bidding negotiations, all fraud issues will be handled
according to state law Socialist Republic of Vietnam.

III. PROPOSED INVESTMENTS, INVESTMENT SUPPORT

1. License Tax
Filed annually to the tax administration directly. Tax collection rate by tier, determined
based on the charter capital/investment capital or revenue of the previous business year of
Soft Door software

2. Incentives on corporate income tax:

In the first year, because Microsoft, Open AI and FPT support the free software package
for the government of the Socialist Republic of Vietnam, businesses will not pay tax for
Soft Door software in the first year. first. From next year, the enterprise will pay 5% rent
based on total revenue.

3. Value added tax:

Declare 10% value added tax (VAT) monthly according to the law of the Socialist
Republic of Vietnam, based on revenue since the 2nd year of operation of Soft Door
software.

TP. Hồ Chí Minh, ngày 15 tháng 3 năm 2023

Microsoft Vietnam OpenAI FPT Corporation