JETRO: FPT Emerges as the Foremost Vietnamese Enterprise with Pivotal Investments in Japan
•
28/11/2023
Takeo Nakajima, the Chief Representative of the Japan External Trade Organization (JETRO) in Hanoi, has reported a notable surge in investments in Japan by Asian companies, with Vietnamese enterprises prominently contributing to this trend. The primary focus of Vietnamese businesses' investments lies within the realm of information technology. According to JETRO, the most substantial investment in this domain hails from FPT. The company boasts a workforce of nearly 15,000 engineers dedicated to serving Japanese clients, with 2,900 employees from 16 offices and development centers across Japan.
The previously mentioned information is featured in the article "Vietnam - Japan Economy: Half a century of working side by side" on VnExpress in the context of President Vo Van Thuong's official visit to Japan from November 27 to 30, following an invitation extended by the Japanese government.
In the course of this visit, Vietnamese President Vo Van Thuong and Japanese Prime Minister Kishida declared the elevation of the Vietnam-Japan relationship to a Comprehensive Strategic Partnership for peace and prosperity in Asia and globally. This announcement reflects their shared determination to enhance collaboration across various domains as well as to expand areas of cooperation, including innovation, technology transfer, digital transformation, and green transformation.
President Vo Van Thuong and Japanese Prime Minister Fumio Kishida on November 27. Photo: TTXVN
Japanese Prime Minister Fumio Kishida underscored the significant contribution and presence of Vietnamese individuals in various aspects of Japanese society and economy. The Vietnamese community in Japan, numbering around 500,000 people, stands as the second-largest foreign community.
Vietnam and Japan initiated diplomatic relations on September 21, 1973, marking the beginning of a strategic partnership in 2009. This collaboration was further expanded in 2014 when the two nations established an extensive strategic partnership for peace and prosperity in Asia. The relationship reached a new milestone on November 27, 2023, with the elevation to a Comprehensive Strategic Partnership, signaling their commitment to fostering peace and prosperity in Asia and globally.
Since 2000, FPT has been involved in the Japanese market, facing initial skepticism from Japanese companies regarding Vietnam's capacity for software development. Despite these challenges, FPT persevered with determination and a learning commitment. Its efficient operational model emphasized the development of a workforce fluent in Japanese language and culture, the establishment of offices throughout Japan for prompt customer support within a two-hour timeframe, and a proactive approach to adopting and implementing cutting-edge technologies. FPT has firmly established itself and flourished in the competitive Japanese market through these strategic initiatives.
As of now, FPT Japan holds a position among the Top 100 Best Places to Work in Japan and is recognized in the Top 5 Best Places to Work for Japanese Women in 2022, as documented by the reputable Great Place To Work organization.
FPT currently has 2,900 employees working in 16 offices and development centers in Japan.
Japan is among the top three pivotal markets for FPT's software exports. Remarkably, during the initial ten months of 2023, FPT has sustained an impressive growth rate of 44% in the Japanese market despite the challenges posed by the depreciation of the Yen.
In early 2022, FPT Japan entered into a non-controlling investment agreement, becoming a strategic shareholder in LTS, Inc. - one of the Top 20 consulting, business management, and digital transformation companies in Japan with a rich history spanning over two decades. The strategic collaboration is geared towards maximizing the synergies in the realms of consulting and technology services, aiming to gain lucrative contracts amounting to tens of millions of dollars in the Japanese market and globally. This agreement follows a prior partnership in 2019 when FPT Japan and LTS, Inc. joined forces to establish FPT Consulting Japan—a joint venture concentrating on business consulting and end-to-end digital transformation. The emphasis was on deploying cutting-edge technology solutions such as SAP and Salesforce as well as enhancing capabilities to deliver adept management and operational services for technology systems and business functions.
FPT Japan was honored with a certificate of merit, recognizing its commendable endeavors in fostering economic and cultural exchanges between Vietnam and Japan.
FPT Japan has set ambitious targets for its future growth, aspiring to reach a workforce of 4,000 employees, a position among the Top 20 largest technology service companies in Japan by 2025, and a revenue milestone of one billion USD by 2027. In order to realize these objectives, FPT Japan is strategically expanding its service offerings, extending beyond consulting to operations, thereby enhancing the "Made by Vietnam" value in the supply chain. The company is also intensifying its efforts to recruit Japanese and international experts, fostering diversity in its human resources. Furthermore, training initiatives are actively promoted, equipping its workforce with in-depth expertise in economic domains and the requisite skills to thrive as global citizens.