The pandemic makes way for FPT other Made in Viet Nam tech solutions

Per traditions, at the Annual General Meeting of Shareholders 2021 (AGM 2021), Chairman of FPT Corp., Mr. Truong Gia Binh, had shared his insights on the Corporation’s strategies for the next three years. This year, prior to discussing with shareholders about FPT’s strategies for the period of 2021 - 2023, Mr. Binh asserts that, the current landscape is a difficult and challenging one, but one that creates opportunities for FPT. "Time is on FPT’s side", Mr. Binh assures.

According to Mr. Binh, the pandemic has a severe effect on the economy, putting many corporations into difficult positions, from sales to finance, prompting many to adhere to the strategy of "Do more with less". This presents an opportunity for FPT.

As proof of this great opportunity given to FPT, Mr. Binh shared an anecdote of a million-USD contract between FPT and America’s leading automotive Company. He asserts that, in the social landscape prior to the pandemic, this gigantic work load will be divided into many individual tasks, with each being handled by a different partner. But during these times, they would prefer to handle it with minimal costs, and the 150 million USD investment package for this entire work load becomes a race between 193 corporations, from which only 3 winners will be selected. "Among the participants are some of the names that we have always admired, such as IBM (US), Tata (India) and we’ve won that race, making FPT the Champion (the number-one priority partner)", shared Mr. Binh.

In all tasks, FPT was the first partner to get on board. If FPT failed to solve the problem, only then would it be the other partners’ turn. "Since the start of the year, we’ve never had to turn over any of our tasks to the other partners", shared Mr. Binh.

This package is only one of three contracts valuing over 100 million USD that FPT won in 2020, something that never happened prior to the pandemic. "Those who wanted to 'Do more, with less' in the past, they had never wanted to hand over such large contracts to Vietnam, to FPT, but where we are now proves that it’s possible. FPT has not only grown in scale, in tech, but could also handle everything from A to Z for mega corporations, including consultation", according to Mr. Binh.

These changes cemented how FPT has started to become a distributor of digital transformation tools, and not just a service provider. The corporation was also responsible for many other platforms, from education to medical, traffic, etc… The current issue is that it must move alongside other corporations to establish a healthy digital transformation ecosystem.

Chairman of FPT Corp. shared at the AGM 2021

In 2021, FPT reached a revenue mark of VND34,720 billion, with a pre-tax profit of VND6,210 billion, a growth of 16.4% and 18% compared to the same period the previous year, respectively. This is also the stable growth rate that FPT would strive to maintain in the long term, especially as the world is emerging into the digital era, a golden opportunity for tech corporations like FPT.

The FPT leadership had also affirmed their pursuit of their long-term goal to become one of the world’s Top 50 digital transformation providers by 2030. At the same time, digital transformation continues to be their focus during their coming growth period and promises a steady stream of long-term profits.