The Minister of Information and Communications: FPT's strategic focus on AI, Semiconductor Chips, and Automotive Software is the right approach


Hanoi, February 15, 2024, on the inaugural working day of the Year of the Dragon, Mr. Nguyen Manh Hung, a Member of the Party Central Committee and Minister of Information and Communications (MIC), along with a delegation from the Ministry, visited and engaged in discussions at FPT Corporation. Minister Nguyen Manh Hung commended FPT's accomplishments in 2023. He affirmed, "FPT has grown into a prominent entity among Vietnam's top enterprises and has successfully expanded globally to compete on the international stage. Now, it's time to pay it forward. FPT should leverage technology to modernize and digitally transform Vietnam, propelling it to become a powerhouse — an enduring symbol of strength and progress."

Accompanying Minister Nguyen Manh Hung during the working visit to FPT Corporation on the first day of the new year was Mr. Nguyen Huy Dung, Deputy Minister of Information and Communications, and leaders from various departments under the MIC, including the Authority of Information Technology and Communication Industry, the Department of National Digital Transformation, the Authority of Telecommunications, and the Authority of Information Security. Welcoming the delegation from the MIC was Mr. Truong Gia Binh, Chairman of FPT, along with leaders from the Corporation and its member companies.

FPT will concentrate its efforts on AI, Semiconductors, and Automotive Technology in 2024

Commencing the working session with leaders from the MIC, Mr. Truong Gia Binh, Chairman of FPT Corporation, presented the accomplishments FPT strived for in 2023 — a year fraught with challenges for all enterprises. In 2023, FPT achieved a revenue of 52,618 billion VND, marking a growth of 19.6%, and a profit of 9,203 billion VND, reflecting a 20.1% increase over the same period. A noteworthy highlight is FPT's IT service revenue from abroad, which surpassed 1 billion USD for the first time. Additionally, FPT has expanded its global presence to 30 countries. Regarding the objectives for the Year of Giap Thin, Mr. Truong Gia Binh asserted: "This year's heavenly stem is Giap - in parallel with its property (Yang) and Basic Element (Wood). The Wood part is technology. This year is anticipated to be a period of significant technological advancement and momentum. The Year of the Dragon, traditionally associated with strength in Asian culture, symbolizes a potent force. Therefore, it represents an opportune time for technological advancement, akin to harnessing the dragon's power. However, the key challenge lies in ensuring harmonious collaboration among individuals. FPT is committed to fostering unity and prioritizing the development of human resources."

Mr. Truong Gia Binh, Chairman of FPT Corporation, presented FPT's accomplishments in 2023.

Mr. Truong Gia Binh, Chairman of FPT Corporation, presented FPT's accomplishments in 2023.

Mr. Truong Gia Binh outlined that AI, Semiconductors, and Automotive Technology would be FPT's three primary focal points. FPT possessed a substantial foundation cultivated over numerous years in each of these domains. In particular, it boasts a sizable team of AI experts and has established the Quy Nhon AI Center. Moreover, FPT has engaged with the global AI alliance initiated by IBM and Meta. Over the recent Tet holiday, FPT was awarded over 170 AI certificates by NVIDIA and aimed to obtain tens of thousands of certificates in the future. In the realm of semiconductor chips, FPT Semiconductor stands as the pioneering Vietnamese company in chip design for commercial purposes. The company is fulfilling orders for 70 million chips from Japan, Korea, and Taiwan. It also establishes collaborations with organizations and companies in Japan and the US.

Furthermore, the Corporation has assembled a team of 4,000 experts specializing in automotive software technology alongside numerous partners and customers, including major global brands. It also established FPT Automotive company. "In pursuit of significant objectives, FPT believes that the happiness of individuals is paramount, and we harness the power of AI to enhance people's lives and promote overall happiness," affirmed Mr. Truong Gia Binh.

Minister Nguyen Manh Hung: FPT inspires Vietnamese digital companies

During the working session, Minister Nguyen Manh Hung acknowledged FPT's accomplishments in 2023. He highlighted that Vietnam boasts over 40,000 Digital Companies, predominantly small-scale businesses. The Minister emphasized that FPT's success would inspire small businesses, particularly those venturing into international markets.

Minister Nguyen Manh Hung held high expectations for FPT during his visit to the Corporation on February 15, 2024.

Minister Nguyen Manh Hung held high expectations for FPT during his visit to the Corporation on February 15, 2024.

Commenting on FPT's achievements in 2023, particularly the milestone of reaching 1 billion USD in revenue from foreign markets, the Minister remarked that this breakthrough elevates FPT to a distinct rank and class on a global scale. Mr. Nguyen Manh Hung affirmed, "It can be said that FPT's success is attributed to digital technology, digital transformation, AI, and resilience with its inherent strengths. FPT's strategic focus on AI, semiconductor chips, and automotive software technology, particularly AI, is undeniably a sound strategy."Speaking about FPT's legacy, the Minister emphasized the Hope School. He stated, "More than 200 children who lost their parents due to COVID-19 are being nurtured in FPT's school, aptly named Hope. While COVID-19 has caused destruction, it has also given rise to new life. These seeds of life are flourishing here, within FPT itself."

In the future, Minister Nguyen Manh Hung assigned FPT the responsibility of utilizing technology to advance digital transformation and green transformation, thereby catalyzing global sustainability efforts and establishing digital infrastructure crucial for fostering the digital economy. Furthermore, the Minister expressed confidence in FPT's ability to excel in AI — the cornerstone of the fourth industrial revolution. AI must be democratized as a service, underscoring the obligation of digital enterprises such as FPT in this endeavor.

The Minister of Information and Communications:  FPT's strategic focus on AI, Semiconductor Chips, and Automotive Software is the right approach

Mr. Truong Gia Binh presented Minister Nguyen Manh Hung with the book "From Obscurity to a Global Corporation," FPT's inaugural publication made available to the public and business community. The book encapsulates numerous success stories, and invaluable experiences garnered over FPT's 35-year journey toward establishing itself as a globally recognized entity.

2024 will be the year that Vietnam embarks on implementing the national strategy for the Semiconductor Industry, marking the inception of a pivotal and enduring sector for the nation over the next 30-50 years. The Minister emphasized that for FPT to spearhead the development of the semiconductor and electronics industries, it must harbor a grander vision and unwavering determination."Giap symbolizes the Wood element, the beginning of a 10-year cycle of the heavenly stem. This year, Giap Thin, belongs to the fire element, a shining lamp that drives away the previous year's difficulties. "The Year of the Dragon symbolizes power, nobility, and triumph. I extend my heartfelt wishes to FPT for a year marked by a profound awareness of its mission to serve the nation and its people. May FPT harness the energies of heaven and earth to achieve resounding success," expressed the Minister, conveying his confidence in FPT Corporation for the upcoming year.