FPT is the first Vietnam-headquartered tech firm to reach $1 Billion USD Revenue

Press Release: December 22, 2023

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FPT is the first Vietnam-headquartered tech firm to reach $1 Billion USD Revenue
HANOI, VIETNAM, December 22, 2023 – Global technology corporation FPT has surpassed one billion USD in the global IT services segment, generated by its subsidiary FPT Software. This marks FPT as the first Vietnam-headquartered tech firm to reach this milestone, underscoring its sustainable growth, steadfast commitment to innovation, and dedication to client satisfaction.

In 2023, the IT firm made monumental strides in expanding its global presence and alliances to deliver successful digital transformation to customers, evident from its elevated strategic partnerships with several industry leaders, including SAP, Microsoft, AWS, Salesforce, and Adobe. As part of FPT’s global expansion strategy, it has also inked several investment and acquisition deals with Landing AI, Intertec International, Cardinal Peak, and AOSIS to enhance its competencies and provide closer support to clients in overseas markets. These efforts allow FPT to double its revenue from global IT services in three years, with the largest contribution from its major markets – Japan, the Americas, and Asia Pacific, accounting for roughly 30 percent each.
 
FPT has established itself as a trusted partner for businesses across several sectors, with digital transformation playing a large role in its end-to-end services and solutions portfolio, accounting for nearly 50% of total global revenue. The corporation has extensive expertise in several domains, including ERP modernization, cloud and data, and software-defined vehicles. The recent launch of FPT Automotive further solidifies its strategic investment and builds on its decade-long experience in automotive product engineering services and solutions. 

These achievements are supported by FPT’s human-centric approach to doing business, with its strong commitment to sustainable practices, workplace diversity, and workforce development. It earned EcoVadis Silver rating for its ESG initiatives and was recognized as the ‘Great Place to Work’ in various countries, including Vietnam, Japan, Singapore, the US, and more. 

As a world-class technology enabler for complex business challenges and opportunities, FPT anticipates immense global market potential and opportunities to reach more billion-dollar milestones in revenue and profit from a single market, a single vertical industry, and a single contract. Following this direction, the IT firm will continue delivering comprehensive services and solutions, all embedded with artificial intelligence (AI). Its global workforce will be further strengthened with seasoned experts and a robust pipeline of young, skilled IT talents from its home country, Vietnam, and other locations like India, China, the Philippines, and Latin America. At the same time, it will be at the forefront of promoting the momentum of Vietnam as the world’s emerging digital hub to help its clients reinvent business excellence and resilience. 

FPT Corporation Founder and Chairman Dr. Truong Gia Binh said: “FPT Corporation’s ambition is to showcase Vietnamese intelligence and technology to the global stage, and our subsidiary FPT Software was founded to realize that vision. As the world turns its attention to Vietnam as a prominent hub for business investment and digital innovation, we have proven our pivotal role in driving this movement. In the journey ahead, we will persist as a trusted partner, empowering global enterprises towards a more sustainable and happier future.” 

FPT Software Chairwoman Chu Thi Thanh Ha said: “People development is the foundation for our sustainable growth. This achievement is a testament to the collective efforts and wisdom accumulated across generations of FPT Software’s people. We will continue focusing on talent development and equip our people with a happy working environment and the necessary knowledge and skills to keep up with growing market demand and global standards.”

FPT Software CEO Pham Minh Tuan said: “​​With AI as an accelerator embedded in all services and solutions, we are committed to enabling agility and scalability and optimizing quality and productivity for all projects. Looking forward, we have plans for new partnerships and M&As with leading companies worldwide to enhance our nearshore network expansion, delivery quality, core competencies, and operational excellence to provide end-to-end solutions and better serve our global clients.” 

As a leader in Vietnam’s nationwide movement of digital transformation, FPT has also set its sights on AI and semiconductor as strategic focuses with a series of initiatives, including becoming the founding member of the AI ​​Alliance led by IBM and Meta, advancing its strategic partnership with Mila, launching Semiconductor Circuit Faculty and working on collaboration opportunities with world’s leading names in semiconductor like Nvidia. It has obtained orders for nearly 70 million chips, scheduled for delivery by 2025.

ENDS


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