FPT welcomes the delegation of the Lao Securities Commission Office and Large Enterprises

Recently, the delegation of the Lao Securities Commission Office (LSCO) and representatives of large Lao enterprises in the fields of fuel, finance, construction, automobile distribution, and agriculture, led by Ms. Fongchinda Sengsourivong, Secretary-General of the LSCO, met with FPT Corporation.

The meeting was within the scheduled agenda of the high-level delegation of the LSCO to visit the Ministry of Finance, the State Bank of Vietnam, the State Securities Commission (SSC), the Stock Exchange, and Vietnamese enterprises, which occurred from July 24 to 27, 2023. FPT is the only technology enterprise visited by the delegation to pass on experience to Lao enterprises while in preparation for listing on the Lao stock exchange.

FPT shared lessons learned as the first listed tech company in Vietnam.

In 2006, FPT was officially listed on the Ho Chi Minh City Stock Exchange (HoSE) with a market capitalization of 24,000 billion VND. After nearly 20 years, its market cap increased more than four times to 100,000 billion VND. FPT is now the 13th largest-cap enterprise on HoSE and the only technology company in VN30. The Corporation has been honored among Vietnam's Top 50 best-listed companies for 11 consecutive years.

Ms. Fongchinda Sengsourivong, Secretary-General of the LSCO, was sharing at the event.

At the event, Ms. Fongchinda Sengsourivong, Secretary-General of the LSCO, expressed gratitude to FPT for its valuable experience on the benefits of being listed. "Participating in today's meeting are companies with the greatest potential to be listed in Laos. I would like to show appreciation for FPT's inspirational stories that may provide Lao businesses with a definite picture of the listing procedures", said Ms. Fongchinda Sengsourivong.

Established in 2010, the Lao Securities Exchange (LSX) is the only trading market in Laos. There are 11 listed companies on the LSX with a total market cap of about 800 million USD.

Mr. Nguyen The Phuong - Executive Vice President of FPT Corporation - shared his opinions at the event.

Regarding the benefits of listing, Mr. Nguyen The Phuong, Executive Vice President and Chief Financial Officer of FPT, said that the five fundamental advantages were to increase company value, attract more investors, raise brand equity, enhance governance capacity, and motivate employees through ESOP policies. Responding to Lao businesses' issue of investors' expectations and long-term partnerships, Mr. Phuong said that well-defined development orientations and information transparency are a must.

Technology is vital for listed companies to connect smoothly with investors, enhance competitive advantage, and grow sustainably. At the event, FPT's representatives expressed the desire to support Lao enterprises to thrive based on the concentrated application of new technology solutions in management, operation, and business activities.

According to the agenda of the meeting, the LSCO high-level delegation visited FPT's office and got hands-on experience with AI and Cloud solutions for the securities industry.

With 20 years of experience in the securities industry, FPT has contributed to a convenient, transparent, and secure investment environment, improving the Vietnamese stock market quality. In 2021, FPT successfully addressed the issue of network congestion of HoSE within 100 days, lifting its capacity to 3-5 million transactions/day. As a result, the solution helped the system go smoothly into operation, creating stability and gaining trust. FPT also developed a Chatbot-based solution for the State Securities Commission to support financial institutions and public companies with procedures and processes related to listing and trading.

Recently, the system of the registration, depository, and settlement of individual corporate bond transactions for Vietnam Securities Depository (VSD) produced by FPT has been successfully put into operation. The system has laid the foundation for operating the corporate bond trading system, vigorously promoting transparency and limiting risks. Previously, numerous core systems of VSD were also built by FPT, including the registration, depository, and clearing for the listed stock market; the registration, depository, and clearing for the stock market of unlisted public companies; and the system of clearing and settlement of derivatives.

Besides, FPT has also been accompanying securities companies to apply emerging technologies, especially AI and Cloud, to system operation and customer management, meeting the increasing growth of accounts and market liquidity. For example, the FPT.AI solution was deployed at SSI Securities Joint Stock Company - the longest-standing and most prestigious enterprise in the stock market - in opening accounts virtually with a 100% eKYC identity rate instead of face-to-face transactions. Besides, the "Virtual Assistants" - FPT AI Chat - for Customer Care services can be applied in Investor Relations activities with the exact mechanism. Virtual assistants allow investors to automatically get updates on the latest information on the stock codes they want and give real-time alerts according to pre-installed risk levels. In addition to FPT.AI, the Cloud-based auto-scaling solution provided by FPT helps SSI serve visitors even when the market has sudden changes, avoiding system overload or "congestions."