Rikkeisoft, the largest private technology company in Vietnam that specialises in helping customers with digitalisation and innovative solutions, is embarking on a strategic commitment to invest up to $30 million in the United States within the next three years.
|Tung Bui of Rikkeisoft announces the $30 million investment alongside Prime Minister Pham Minh Chinh and his delegates |
This significant investment will be used to foster technology and human resource development, expand infrastructure, and execute well-planned mergers and acquisitions (M&A).
The pledge was unveiled by Tung Bui, senior executive vice president of Rikkeisoft and CEO of RKTech (Rikkeisoft's US subsidiary), during the Vietnam and United States Business Forum - Technology and Innovation Cooperation in San Francisco on the morning of September 18 (US time).
The announcement, made under the watchful eyes of Vietnam Prime Minister Pham Minh Chinh and key delegates, underscores the company's ambitious global aspirations.
“RKTech's phased investment begins with $2 million in 2023, with projections soaring to a cumulative $30 million by 2026. These funds will be strategically channelled into M&A initiatives, office expansions, and talent development,” Bui shared with VIR.
Experts predict this hefty capital injection could create hundreds of technology-focused job opportunities in the US market, propelling Rikkeisoft into the ranks of technology companies worth billions of dollars within the next five years.
Founded earlier this year in Dallas, Rikkeisoft's wholly owned subsidiary, RKTech, offers comprehensive IT solutions tailored to the US business environment.
To date, RKTech has already achieved initial success in expanding its network of US partners and fostering technological collaborations in various sectors, including automotive and manufacturing.
Bui elaborated on the multi-faceted impact of the investment and the unique edge that a Vietnamese technology company can bring to the US
"This investment is more than a financial infusion. It is a solution to the pressing talent shortage in the US tech industry," he said.
"With Vietnam's highly skilled and cost-effective tech talent, we are uniquely positioned to offer value-added services to US clients. Rikkeisoft’s goal is not just to reach an initial public offering (IPO) in the US in 2028, it also plans to fundamentally enrich the US tech landscape by providing a sustainable solution to talent scarcity," he added.
Tung Ta, chairman of Rikekisoft, shared that the US market represents a strategic investment for Rikkeisoft. "We envision becoming a global tech services firm with a market capitalisation of $1 billion. Consequently, a substantial market like the US can significantly contribute to Rikkeisoft's realisation of this goal," he remarked.
Rikkeisoft is researching and developing AI solutions for facial and voice recognition to enhance the productivity of businesses operating in the human resource, finance, and banking sectors.
Regarding human resource training, Rikkeisoft is expanding its subsidiary, Rikkei Academy, aiming to educate Vietnamese students who aspire to become IT engineers.
Rikkeisoft is committed to forging high-impact, far-reaching cooperation initiatives. Establishing RKTech, and other long-term investments in the US market, will play a pivotal role in helping Rikkeisoft achieve its IPO target in 2028.
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