FPT achieves billion-dollar revenue from foreign markets

Sunday, Jan 14, 2024 11:53

Trương Gia Bình, CEO of FPT, delivered a speech at a ceremony to announce the corporation’s achievement of reaching billion-dollar revenue from foreign markets. — Photo FPT

FPT's achievement of reaching billion-dollar revenue from foreign markets is indeed a significant milestone, said Trương Gia Bình, CEO of Việt Nam leading technology giant, FPT.

Bình emphasised that the billion-dollar revenue represents not just a number but also the hard work and dedication of the FPT team. He highlighted the impact of this achievement on FPT's reputation, as it has brought Vietnamese intelligence to the global stage and put Việt Nam's name on the world digital map.

The CEO made the statement during a ceremony to announce the corporation’s achievement of reaching billion-dollar revenue from foreign market held in Hà Nội on January 11. During the ceremony, the FPT leader also announced its target of reaching US$5 billion in IT service revenue by 2030.

Binh recalled that since starting their global journey in 1998, with just 17 employees, they have expanded their IT services for foreign markets to employ 30,000 people of 70 different nationalities. This diverse workforce brings a wide range of perspectives and expertise to the company, contributing to its success.

Establishing its presence in 30 countries, including major markets like the US, Japan, Singapore and Europe, demonstrates FPT's commitment to expanding its global footprint and serving clients on an international scale. FPT having gained the trust of nearly 100 companies in the Fortune Global 500 is a testament to their expertise and reputation in the industry. FPT's entry into the realm of billion-dollar IT service businesses signifies their growth and success in the industry.

Bình also highlighted the evolving perception of Việt Nam and FPT in the global IT industry. The fact that large customers and partners are actively seeking Việt Nam and FPT as their preferred destinations signifies a shift in the dynamics of the market.

The recognition of Việt Nam as a new destination in the world reflects the country's growing prominence in the global IT sector. This is further emphasised by Binh's mention of Việt Nam rising to the second position in software, only behind India.

Binh's emphasised FPT's focus on researching the latest technologies and moving up the technology value chain, indicating the company's commitment to staying at the forefront of technological advancements. Nearly 50 per cent of total revenue comes from digital transformation services, showing the growing demand and importance of these services in the market.

FPT's growth in terms of potential revenue from large contracts during the first nine months of 2023 stood at over $5 million with an increase of 66 per cent. This indicates a significant shift in the company's value chain towards securing contracts of tens and hundreds of millions of dollars, as opposed to orders of several million dollars as before.

With more than 10 years of experience in the automotive software technology industry, FPT has certainly established itself as a major player in this industry with its extensive capacity and a wide range of customers. With a growth rate of around 40 per cent in recent years, the automotive software market has proven to be a lucrative sector. FPT's ability to achieve a milestone of $1 billion in IT service revenue for foreign markets in 2023 is a testament to its success in leveraging its expertise and meeting the demands of the industry.

Also at the ceremony, Nguyễn Văn Khoa, the General Director of FPT, expressed ambitious goals and dreams for the company. One of these goals is to achieve $1 billion in IT service revenue from foreign markets. This indicates FPT's aspiration to expand its presence and increase its revenue through international IT services. Furthermore, FPT intends to concentrate on key technology fields such as AI, semiconductor chips and automotive technology.

Phạm Minh Tuấn, the General Director of FPT Software, has expressed the company's commitment to becoming a world-class company. FPT Software's willingness to accompany its customers and partners in large-scale projects globally demonstrates its ambition and determination. — VNS

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