FPT Corporation

FPT Corporation. It is the largest information technology services company in Vietnam and a prominent multinational corporation in the Asia-Pacific region. Founded during the early stages of the country's economic reforms, it has grown into a diversified conglomerate with global operations. The corporation is a leader in digital transformation, providing a wide array of services from software outsourcing to telecommunications and education.

History

The company was established in 1988 by a group of scientists and mathematicians, including Trương Gia Bình, within the context of the Đổi Mới economic renovation policies. Its early work involved importing and assembling personal computers, a scarce commodity in Vietnam at the time. A pivotal moment came in the 1990s when it secured a major contract with Fujitsu to provide software development services, marking its entry into the global IT outsourcing market. Throughout the 2000s, it expanded aggressively, listing on the Ho Chi Minh City Stock Exchange and establishing its first international offices in countries like Japan and the United States. Subsequent decades saw strategic acquisitions, such as the Intelligent Process Automation provider RPA Technologies, and the formation of key partnerships with global giants like Microsoft, SAP, and Amazon Web Services.

Business segments

The corporation operates through several core business segments. The Technology segment encompasses software development, system integration, cloud computing services, and artificial intelligence solutions, serving clients worldwide. Its Telecommunications segment, under the brand FPT Telecom, provides ISP services, data center operations, and pay television across Vietnam. The Education segment is represented by FPT University, a network of universities focusing on technology and business disciplines. Additionally, other segments include investments in digital content, advertising, and retail through various subsidiaries and joint ventures.

Corporate affairs

The company is headquartered in the FPT Tower in Hanoi, with major operational hubs in Ho Chi Minh City and Đà Nẵng. Its leadership has been notably stable, with Chairman Trương Gia Bình serving since inception and guiding its strategic direction. The corporate culture emphasizes innovation and entrepreneurship, famously modeled on principles from Jack Welch's tenure at General Electric. It maintains an extensive global presence with offices and delivery centers in over 30 countries, including key markets like Japan, the United States, Australia, and throughout Europe. The company is also known for its significant investment in training through the FPT Software Academy.

Financial performance

The corporation has demonstrated consistent revenue growth, reporting over $1.5 billion in total revenue for the 2022 fiscal year. A substantial portion of this revenue is derived from its overseas markets, with exports of software and IT services being a primary driver. It has been a perennial leader in software export revenue within Vietnam, as reported by the Vietnam Software and IT Services Association. The company's shares are a constituent of the VN30 Index on the Ho Chi Minh City Stock Exchange, and its market capitalization makes it one of the most valuable technology firms in the country. Financial analysts from organizations like SSI Securities Corporation and VinaCapital frequently cover its stock performance.

Technology and innovation

The company is a major proponent of research and development, investing heavily in emerging technologies. It operates dedicated labs and centers for artificial intelligence, notably in fields like computer vision and natural language processing, applied to solutions for smart cities and healthcare. It was an early adopter and partner for SAP S/4HANA implementations in the ASEAN region. The corporation has also developed its own enterprise resource planning platform and is a leading provider of low-code platform solutions in Asia. Its innovations in 5G technology, in collaboration with partners like Mavenir, and its FPT.AI platform, have been recognized with awards from institutions like the International Data Corporation and Asia-Pacific Stevie Awards.