Vietnam stepping up global tech supply

FPT Software, one of Vietnam’s biggest tech firms, is planning to open its representative office in Denmark in September, thus expanding its network to 28 countries and territories.

Pham Minh Tuan, general director of FPT Software told VIR, “Digital transformation has been the main trend globally over the past two years and it is still now a top issue of interest as businesses are heading to optimise their business operations. Economic depression forces businesses to come up with new strategies, and technology is one of their top priorities.”

Vietnam stepping up global tech supply, FPT Software

At present, the United States and Japan are FPT Group’s well-performing markets in revenue, while Singapore is its emerging market. In the US, the Vietnamese group plans to increase its revenues to $500 million by 2024.

Tuan elaborated, “We also plan to develop FPT Village in the US to create a more favourable working and living environment for our staff there.”

In 2020, FPT beat hundreds of well-known IT companies to sign numerous large-value digital transformation consultancy contracts with international groups, including a big automobile company in the US with a contract worth some $150 million; and a $200-million contract for digital transformation consulting and implementation at Malaysia’s Petroliam Nasional Berhad. During that year, FPT also expanded globally with four new branches in Canada, the Middle East, India, and Costa Rica.

Last year, FPT Software kept on expanding with announced investments in global IT services provider Intertec International, aiming to strengthen its North American nearshore delivery capabilities. In 2022, the group continues its ambition to increase its presence in the global market by signing partnerships with foreign tech partners, including Singapore’s NCS and Japan’s SCSK, among others.

In June, FPT Software was named a “contender” among the eight most significant Internet of Things (IoT) consultancies in Asia-Pacific, as cited in a report by global research firm The Forrester Wave. The report evaluated and scored the most significant IoT players based on 28 criteria grouped into current offerings, strategy, and market presence.

In July, FPT’s global IT services segment saw solid revenue growth of 29.1 per cent on-year, fueled by outstanding performance in the US market (up 43 per cent) and Asia-Pacific (up 62 per cent). The Japanese market witnessed rapid recovery with on-year revenue growth of 20.2 per cent.

Also during last month, FPT’s signed revenues of the global IT services segment recorded a rise of 43.2 per cent.

Military-run Viettel and VNPT are striving to boost their presence in the global market. Viettel is promoting business-to-business services in Myanmar, network information security services in Germany, and telecommunications network equipment in South Asia. It is also increasing international partnerships with Nvidia and AI businesses worldwide.

Viettel is now the number-one telecoms firm in Southeast Asia, the 10th in Asia, and 18th globally in terms of network operators with the highest value, and is present in 10 markets on three continents. To date, seven markets make a profit. Global enlargement has contributed to Viettel’s better business performance in recent times.

In the first half of 2022, the company gained double-digit growth, marking a record high in the last four years.

Chairman Tao Duc Thang said, “Viettel will continue on its digital development journey to bring prosperity to the country and become the number one business in network security and digital transformation. We will combine resources both at home and abroad to develop breakthrough and market-led products.”

Similarly, VNPT is also increasing international cooperation with global partners to expand its network abroad. Thus far, it has set up partnerships with 200 multinational corporations in the post and telecoms industry. They include AT&T, NTT, France Telecom, Telstra, KDDI, SingTel, KT, Kinnevik, and others.

In addition, VNPT has also joined international telecoms forums such as the International Telecommunication Union and the Asia-Pacific Telecommunity.

VNPT has developed tech products such as the ONE Telco device management platform and BioID, a biometric authentication platform. ONE Telco is now available in Thailand, Indonesia, and Myanmar while VNPT expects that BioID will become the number one biometric ID platform in Vietnam and deployed in markets such as Laos, Cambodia, and Myanmar.