Vietnam tech giant FPT hits $1 bln in global IT services revenue

Hanoi-headquartered global technology corporation FPT has surpassed $1 billion in the global information-technology (IT) services segment, generated by its subsidiary FPT Software.

In a Friday release, FPT said the achievement 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 big 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, Amazone Web Services (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, namely Japan, the Americas, and Asia Pacific, accounting for roughly 30% each.

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.

As a leader in Vietnam’s 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 in the semiconductor industry with Nvidia. It has obtained orders for nearly 70 million chips, scheduled for delivery by 2025.