Vietnamese enterprise achieves billion-dollar revenue from software exports

DNHN - Within three years, FPT has recorded impressive growth, reaching a revenue of 1 billion USD from exported Information Technology (IT) services.

FPT has marked a significant milestone by becoming the first technology enterprise in Vietnam to achieve a billion-dollar revenue from software exports. This success not only demonstrates the strength of the Vietnamese technology industry but also leaves an important mark of Vietnamese intellect on the global map, while actively contributing to the comprehensive development of the national economy.

Within three years, FPT has recorded impressive growth, reaching a revenue of 1 billion USD from exported Information Technology (IT) services. This is mainly attributed to three key markets: Japan, the Americas, and Asia-Pacific. Currently, all these markets are showing strong growth, exceeding 30%. The Japanese market stands out with a growth rate of up to 54%, driven by the increasing demand for IT, especially in the field of digital transformation.

Remarkably, in recent years, FPT has witnessed a significant shift in IT services in international markets, focusing primarily on high-end stages in the technology value chain. To date, 50% of total export revenue comes from digital transformation services, with a nearly six-fold increase in the past five years. Notably, Cloud accounts for 40% of digital transformation service revenue, along with advanced technologies such as AI and data analytics accounting for 12%, and RPA & Lowcode accounting for 10%, which are notable highlights in FPT's impressive development journey on the international stage.

Thus, after more than two decades of accumulating experience in the global market, FPT has built in-depth capabilities in specialised fields with the potential for extensive development in the future.

As a result, out of the 1 billion USD in revenue from IT services in foreign markets, 21% comes from customers in the automotive and manufacturing software technology sector, 11% from the finance and banking sector, and 11% from energy. Notably, revenue from the automotive and manufacturing software industry has maintained a growth rate of over 30%. This reflects FPT's growing reputation among customers in this sector.

FPT Corporation Chairman Truong Gia Binh shared: "More than two decades ago, FPT aspired to bring Vietnamese intellect and technology to the world, and FPT Software was established to realise that vision. After two decades, Vietnam has ranked second in the list of countries, a global destination for IT services, known to the world as a hub for business investment and Digital Transformation. We have proven to be a pioneer in driving this wave, making Vietnamese intellect shine across all five continents. On the journey ahead, we will continue to dream of elevating our country to the highest level through technology, for a sustainable and prosperous future."

In 2023, FPT has made significant strides in enhancing its stature in the global market through M&A deals, collaborations with major partners in various sectors, and enhanced technological technology capabilities in specialised domains.

Within just one year, FPT has executed four M&A deals and invested in reputable technology companies in the US and France, such as Intertec International, Cardinal Peak, AOSIS, and Landing AI. These deals have enabled FPT to rapidly enhance its technological capabilities in new areas such as SAP, Data, Cloud, IoT, AI, embedded software, and intelligent solutions; add high-quality human resources through the addition of experienced foreign technology experts; expand its customer base in the Americas and Europe; and swiftly seize the opportunities that are opening up globally.

FPT has also expanded and enhanced its collaboration with many of the world's most renowned partners, such as SAP, Microsoft, AWS, Salesforce, and Adobe, and joined the AI Alliance initiated by IBM and Meta, creating a distinct competitive advantage for the company to participate in large-scale digital transformation projects; competing head-to-head with formidable rivals from India, Europe, and the US, securing contracts worth tens and hundreds of millions of USD. Additionally, FPT has organised hundreds of visits and meetings with delegations from major corporations, opening up new business opportunities in the future. At FPT Techday 2023, for the first time, Vietnam simultaneously welcomed top executives from 600 enterprises from all continents to discuss potential collaborations.

The previous year has seen a significant implementation of the growth-scale and depth-investment strategies to take advantage of possibilities in high-growth sectors including automotive software, banking and finance, energy and health care, etc. To dominate the automotive software market, which is predicted to reach a magnitude of 116.62 billion USD by 2032, FPT founded FPT Automotive Company with a goal of USD 1 billion by 2030.

As a world-class technology company, FPT is committed to continuing to make Vietnam a new technology hub of the world, to achieve revenue and profit milestones of billions of dollars from a single market, industry, and contract. Among these, Chips and AI are considered by FPT to be the core directions in the coming time, as one of the key factors for Vietnam to catch up with developed countries in the world.

FPT is constantly searching for methods to collaborate with top companies in this industry. The leaders of the Group recently met to discuss ways to collaborate with Nvidia, the world's largest semiconductor company. The goal is to help Nvidia transform Vietnam into a hub for luring AI talent and semiconductors from around the globe to support startups, build and develop supercomputers, and contribute to the growth of the semiconductor and artificial intelligence ecosystem.

Thu Phuong