Vietnam’s FPT sets billion-dollar tech services target by 2021

FPT Chairman Truong Gia Binh commits to investments in not just technology but also education.

Vietnam’s FPT Corporation has unveiled plans to reach USD 1 billion in revenue from technology services by 2021, with digital solutions cited as the “main growth motivation”.

Unveiled during a meeting with 300 investors and brokers in Ho Chi Minh City, the technology giant aims to take a sizeable slice out of an expanding market both regionally and globally.

Mr. Truong Gia Binh, chairman of FPT’s Board of Directors, believes that with the current growth rate of over 20 per cent per year, the goal of reaching US$1 billion in revenue by 2021 is feasible.

Under the banner of digital transformation, key leaders from within the business outlined how the provider hopes to firstly transform itself, but also how it plans to capitalise on digital transformation throughout Vietnam and the region.

Mr. Truong Gia Binh, chairman of FPT’s Board of Directors, believes that with the current growth rate of over 20 per cent per year, the goal of reaching US$1 billion in revenue by 2021 is feasible. He expects the majority of that growth to come from digital transformation projects.

To be among the top digital transformation services companies in the world, the firm sees investments in not just technology but in education as well as key to that growth.

Mr. Binh used the example of the Y2K incident having short-term opportunities for countries such as India, however, he believes initiatives such as the fourth industrial revolution with its focus on digital transformation having more long-term opportunities, in the range of 15-20 years, with year-on-year high growth rates and value in the trillions of dollars.

“We currently have an almost unlimited market in the world which shows a great need,” said Mr. Binh. “It is vital to better itself to meet market demands.

“In principle, meeting these demands depends on education, so technology and education must come together. If developing well and stimulating innovation, FPT will achieve high and sustainable growth.”

Also at the event, FPT leaders shared the financial picture of FPT in the next three years, stating that in the period of 2019-2021, its growth in revenue and profit will be 17.8 per cent and 20 per cent, respectively.

In acknowledging the shortcomings of a traditional university system for today’s needs; from the encouragement of the government in educational socialization for greater human resource development; and from the demand of FPT Corporation – the largest IT and Telecommunications Corporation in Vietnam, FPT University was officially established over a decade ago. 

FPT University concentrate on developing a ‘new generation university’ with a modern educational philosophy which combines training activities with the actual need for skills in the country, leveraging Vietnam to a level at which it can compete with developed countries in the world. 

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Source: Channel Asia Singapore