Chairman of the Hanoi-based company Truong Gia Binh announced the decision Thursday, less than 24 hours after learning about the Covid-19 orphanage figures.
Binh said he himself had to live far away from his parents starting from the age of eight during wartime.
The school will operate for the next 20 years and FPT will commit to spend at least VND80 billion ($3.5 million) each year on it.
Students will be trained up to college level and even higher if they want.
The urban complex FPT City Da Nang in the central region is set to be the location for the school including accommodation.
FPT established its FPT University in 2006 and has trained 90,000 students since. It has campuses in five locations including Hanoi, Ho Chi Minh City and Da Nang.
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