FPT Software on May 15 opened a new office in New York City to explore new opportunities for development, expecting to provide technology and digital transformation services for large enterprises in the Northeast region of America.
|Prime Minister Pham Minh Chinh attended the opening ceremony of FPT Software's new office in New York City |
Speaking at the ceremony, Prime Minister Pham Minh Chinh stressed the importance of the event in the context of Vietnam’s rapid recovery after the pandemic, showing the country’s sustainable socioeconomic development with a focus on technology and innovation.
The PM believed that FPT would develop faster and stronger, contributing to the development of science and technology among Vietnam’s businesses.
Dang Tran Phuong, CEO of FPT Americas said, “This is a milestone asserting our rapid and strong growth in the world's largest economy. In the next three years, we expect the new office to contribute 20 per cent of FPT Software's total revenue in the US, with the number of employees working directly with US reaching 5,000 people."
This is FPT Software's 10th office in the US and the company's 58th worldwide. The new office is located at 295 Madison Avenue in New York City's Midtown Manhattan. The area serves as the city's primary central business district, home to prominent buildings such as the Empire State, Chrysler, and Rockefeller Centre.
The US IT market was reported to have recovered to its pre-pandemic growth rate of 6 per cent per year, maintaining its position as the largest globally, accounting for a third of the international IT market. In the US, FPT Software provides technological services and facilitates digital transformation for close to 100 companies listed in Fortune Global 500.
After 14 years since its first appearance in the US, FPT Software currently has 700 employees working across America, with a large customer base in 30 states across the country. Currently, the US is one of the two largest markets for FPT Software. In 2021, the company reported a growth of 52 per cent in this market and even a high rate of 60 per cent for revenue growth in the first quarter of 2022 over the same period.
FPT Software CEO Pham Minh Tuan said that it is expected that the US would become FPT's largest overseas market in the next two years, playing an important role in FPT Software's plan to reach a billion-dollar revenue by 2023. The company also works with partners to deploy FPT urban areas in the US.
FPT Software took a significant step forward in its globalisation in 2018 when it acquired 90 per cent of Intellinet, one of the fastest-growing technology consulting businesses in the US. The deal helped FPT Software strengthen its technological position, allowing the company to provide its customers with a broader range of services, including strategic consultation, design, implementation, and maintenance
More than 700 businesses use FPT Software's IT services, including 100 Fortune Global 500 firms. The company aims to continue growing capacity in consulting, solutions, and transfer services.