Rikkeisoft plans to invest up to US$30 million in the US by 2026

Wednesday, Sep 20, 2023 10:12

Bùi Hoàng Tùng, SEVP of Rikkeisoft and CEO of RKTech (left, bottom) announced the investment up to US$30 million in the presence of Prime Minister Phạm Minh Chính and a high-level delegation. — Photo courtesy of the firm

Rikkeisoft, the largest private technology company in Việt Nam, specialising in helping customers with digitalisation and innovative solutions, is embarking on a strategic commitment to invest up to US$30 million in the US over the next three years.

The announcement was made by Bùi Hoàng Tùng, Senior Executive Vice President of Rikkeisoft and CEO of RKTech (Rikkeisoft's US subsidiary), during the Việt Nam and the US Business Forum -​ Technology and Innovation Co-operation in San Francisco on Monday (the US time).

This was announced in the presence of Vietnamese Prime Minister Phạm Minh Chính and the delegations from both countries.

Tùng said that RKTech would primarily focus the investment in M&A plans, expanding new offices, and developing technology human resources. Specifically, the investment for 2023 is set at $2 million and is expected to increase to $30 million by 2026.

This significant investment is projected to generate hundreds of technology-focused job opportunities in the US market, propelling Rikkeisoft into the ranks of tech companies worth billions of dollars within the next five years.

RKTech, wholly owned by Rikkeisoft, was established in Dallas in early 2023 to provide high-quality and comprehensive information technology solutions and services to American businesses. To date, RKTech has already achieved initial success in expanding its network of US partners and fostering technological collaborations in various sectors, such as automotive and manufacturing.

"This investment is more than a financial infusion. It is a solution to the pressing talent shortage in the US tech industry,” Tùng said.

“With Việt Nam's burgeoning highly skilled and cost-effective tech talent, we are uniquely positioned to offer value-added services to US clients. Rikkeisoft’s goal is not just to reach an IPO in the US in 2028. It is to fundamentally enrich the US tech landscape by providing a sustainable solution to talent scarcity.”

Tạ Sơn Tùng, Chairman of Rikekisoft said that the US market represents a strategic investment for Rikkeisoft.

"The company envisions becoming a global technology services firm with a market capitalisation of $1 billion. Consequently, a substantial market like the US can significantly contribute to Rikkeisoft's realisation of this goal," he said. — VNS

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