FPT Bridges Vietnamese IT Industry with the Indian Tech Legend for Knowledge Exchange

Hanoi, May 20, 2024 – For the first time, Narayana Murthy (referred to as "India's Bill Gates"), the founder of Infosys – one of the top three IT service companies globally with a market capitalization exceeding 70 billion USD and over 320,000 employees, visited Vietnam. He had a packed work schedule spanning four days, from May 19 to 23. Through the efforts of FPT, one of the top 50 Asian IT service companies, Narayana Murthy, the "legend" of the Indian IT industry, shared his experiences and inspirational stories with Vietnamese IT managers, experts, and business leaders. He also engaged in discussions with government leaders. This event significantly reinforced the cooperative relationship between Vietnamese and Indian IT businesses while affirming Vietnam's prominent position on the global technology map.

Mr. Truong Gia Binh, Chairman of FPT, led the discussion session between Infosys Founder Narayana Murthy and the Vietnamese IT community on the afternoon of May 20.

Notably, the discussion took place between Indian billionaire Narayana Murthy and the Vietnamese IT community, led by Mr. Truong Gia Binh, Chairman of FPT, at Hoa Lac Hi-Tech Park on the afternoon of May 20. The event was attended by Deputy Minister of Information and Communications Bui Hoang Phuong, representatives of Vietnamese IT businesses, and technology experts and engineers. This gathering was organized by FPT in collaboration with the Vietnam Software and IT Services Association (VINASA).

During the event, Mr. Narayana Murthy imparted practical business insights, management strategies, and techniques for cultivating corporate culture, contributing to Infosys becoming a legendary entity in the Indian IT sector. Additionally, he engaged in discussions with the Vietnamese IT community regarding strategies for fostering innovation in businesses, navigating emerging technology trends, and identifying opportunities within the Vietnamese IT industry.

Narayana Murthy is widely acclaimed as India's "Bill Gates" and significantly influences the global IT arena. With Infosys, he has made substantial contributions to elevating India into a prominent IT powerhouse on the world stage. Presently, India continues to reinforce its position by playing a pivotal role in providing resources for technical research and development worldwide. According to a recent study by the Indian Software Association (NASSCOM) and Boston Consulting Group, India is poised to become a frontrunner in the global Engineering Research and Development (ER&D) market. The study projects that India will capture a substantial 22% market share, particularly in the software, automotive technology, and semiconductor sectors, by 2030.

Infosys founder Narayana Murthy convened with FPT Chairman Truong Gia Binh and the executive boards of FPT and FPT Software

Vietnam is truly unique 

Narayana Murthy underscored Vietnam's recent ascent as a global technology hub, citing the nation's dedication and investment in this sector. He commended the courage, hard work, discipline, creativity, and ambition of countless generations of Vietnamese individuals. With these attributes, Murthy envisioned Vietnam becoming one of Asia's premier developed nations and among the world's fastest-growing economies within the next 20 years. "Vietnam's GDP has now soared to 4,300 USD per capita and is poised to outpace the growth of most economies globally. I firmly believe that Vietnam will bring prosperity to its people at a swifter pace than many other nations", he said.

He also emphasized that enterprises like FPT will be crucial in unlocking Vietnam's national potential. "After 24 years of globalization, FPT achieved 1 billion USD in IT service revenue from foreign markets in 2023, a milestone Infosys had reached within a similar timeframe. With its unwavering determination, courage, and relentless effort, I have full confidence that FPT will swiftly reach the next milestone of 2 billion USD in IT services from foreign markets. FPT is and will continue to contribute significantly to Vietnam's future growth, " he added.

Mr. Narayana Murthy and Mr. Truong Gia Binh engaged in a discussion with the Vietnamese IT community on the afternoon of May 20

Quoting the sentiments expressed by Mr. Narayana Murthy, Mr. Truong Gia Binh, Chairman of FPT, remarked: "India and Infosys have been a source of inspiration for FPT and Vietnam. Twenty-four years ago, FPT ventured to India to glean insights on transforming Vietnam into a software powerhouse. It was Mr. Narayana Murthy who instilled in us unwavering confidence that Vietnam, as a "one of a kind" nation, possesses the capability to develop software solutions for the global stage."

In 1998, having established itself as Vietnam's premier IT company, FPT resolved to venture beyond its comfort zone. FPT embarked on this ambitious journey with a strategic vision to export software solutions and showcase Vietnamese ingenuity on the global digital technology stage. "If you want to go far, go together." FPT has served as a "torchbearer," rallying domestic software companies to showcase Vietnamese ingenuity globally, fostering happiness and contributing to national prosperity. In 2002, the Vietnam Software Business Association (now the Vietnam Software and IT Services Association - VINASA) was established, proudly embracing a resolute determination: "If Indians can do it, Vietnamese people can do it too." Back then, India's software industry juggernaut commanded 200 times the revenue of Vietnam's software and IT services sector. Over two decades, Vietnam has substantially closed this gap by over tenfold. The Association sets its sights on reaching revenue milestones of 50 billion USD by 2030 and 150 billion USD by 2045 for the industry. FPT plays a vital role in enhancing Vietnam's global intellectual standing by leading the adoption of cutting-edge technology trends like AI, Big Data, Cloud, Blockchain, RPA, and more.

Ms. Chu Thi Thanh Ha, Chairperson of FPT Software, unveiled the company's campus at Hoa Lac Hi-Tech Park alongside Mr. Narayana Murthy.

Three critical factors contribute to business success: Sales - Financial Control - Human Resources

Drawing from Infosys's practical experience, Narayana Murthy, the founder of Infosys, emphasizes that along with jumping into high-demand fields, successful businesses must ensure three crucial factors: Sales, Financial Control, and Human Resources. "If we cannot sell products, the company will generate no revenue, and without revenue, the company cannot operate. Once revenue is generated, it's imperative to ensure stringent cost control measures. The aim should be to spend less than what the company earns. Additionally, it's crucial to ensure the smooth operation of all departments by maintaining a competent and efficient staff."

According to Indian IT Legend Narayana Murthy, a company's paramount objective is not solely about making profits but rather about creating jobs. He asserts that by creating numerous job opportunities, sales and profits will naturally follow, as job creation forms the foundation of business, with sales and profits being mere consequences.

Echoing the sentiment of Infosys Founder, Mr. Truong Gia Binh, Chairman of FPT, affirmed that FPT shares the same vision. FPT is committed to generating more job opportunities to positively impact young people's lives, aiming to reach one million employees by 2035.

Mr. Narayana Murthy and Mr. Truong Gia Binh exchanged business perspectives

An inspiring tale from Infosys for Vietnam's IT industry

With just 250 USD to kickstart his venture, Narayana Murthy has transformed Infosys from obscurity into a cornerstone of the Indian IT sector, wielding global influence. In a monumental milestone, Infosys became the first Indian company listed on Nasdaq's US stock exchange in 1999. In 2023, the company achieved revenues surpassing 18 billion USD, boasted a workforce of 320,000 employees, operated in 50 countries worldwide, and commanded a market cap exceeding 70 billion USD.

One of Narayana Murthy's most influential achievements was pioneering a global IT services delivery model that empowered companies to operate in locations with the most skilled workforce, optimal economic viability, and minimal risks. This groundbreaking model has transformed the global IT service industry by streamlining organizational structure, resource utilization, workload allocation, and enhancing service efficiency and quality.

Another pivotal factor contributing to Infosys's growth is its human resources strategy. With the steadfast backing of Narayana Murthy, Infosys established a Global Education Center in Mysore in 2022, pioneering an in-house training model aimed at fostering continuous learning and skill development opportunities for its workforce. This center has rapidly emerged as one of the largest corporate universities worldwide.

Mr. Narayana Murthy visited and collaborated with the Chairman and Executive Board of FPT and FPT Software

Infosys' narrative has ignited inspiration within FPT, a pioneering enterprise in Vietnam's software export domain. In 1998, after attaining the status of Vietnam's premier information technology company, FPT embarked on a journey beyond its familiar confines, embracing the strategic vision of software exportation, epitomized by the rallying cry "If Indians can do it, Vietnamese people can do it too." After over two decades, FPT has achieved the milestone of generating 1 billion USD in revenue from IT services in foreign markets. It has also established global resource centers across Asia, Europe, and Latin America, attracting over 70,000 employees from over 70 nationalities. Moreover, FPT has made history as the first Vietnamese enterprise to establish a corporate university: FPT University. This institution not only caters to the needs of FPT but also contributes to a high-quality workforce in both the Vietnamese and global labor markets.

Mr. Narayana Murthy was enthralled by the captivating performance of traditional musical instruments by students of FPT University - the pioneering institution nestled within the heart of the enterprise