Praised as unique by an Indian IT legend, FPT's CEO dreams of Vietnam having many unicorns like his neighbor, and soon earning a second billion USD.

According to information from the Ministry of Information and Communications , Vietnam's technology industry has matured, with revenue from software and IT services, electronic hardware, and digital content activities reaching US$142 billion in 2023. Of this, revenue from software and IT services was US$16 billion, with 1.4 million technology personnel, including over 300,000 engineers in the software sector. It is noteworthy that in Vietnam, the information technology and digital technology sectors are experiencing remarkable growth, with 15-20% growth over the past 10 years, and many large foreign corporations have entered the market. "Vietnam also has large corporations capable of competing with foreign companies such as FPT and VNPT...", emphasized Mr. Bui Hoang Phuong, Deputy Minister of Information and Communications, during a dialogue held at the Hoa Lac High-Tech Park. This event is part of a series of activities during the first visit to Vietnam from May 19th to 23rd by Mr. Narayana Murthy, co-founder of Infosys Technologies, known as the "Bill Gates of India". To achieve this success, the Vietnamese government has implemented a series of dynamic and innovative policies, such as the policy of developing concentrated information technology zones. Since 2001, Vietnam has had 8 concentrated information technology zones, with over 1,000 businesses operating. In addition, the government has issued many preferential policies in the software production sector, supporting FDI enterprises in Vietnam.

Deputy Minister of Information and Communications Bui Hoang Phuong shared this at the event.

In the coming period, the Government will continue to issue many supportive mechanisms and policies. For example, in June, the Government will issue a plan for developing semiconductor human resources until 2030, and submit it to the National Assembly. It is expected that by 2025, a law on the digital technology industry will be enacted to promote this field. "I hope that today will leave a new mark, a new source of inspiration. Inspiration for Vietnam to have many billion-dollar technology corporations like India, inspiration for Vietnam to have many unicorns like India, leaving a mark in the technology cooperation between Vietnam and India to serve the global market," shared Mr. Nguyen Van Khoa - General Directorof FPT and Chairman of VINASA.

Mr. Nguyen Van Khoa, General Director of FPT and Chairman of VINASA, shared at the event.

FPT expects to soon secure a second billion USD investment. Speaking about this visit, the Indian IT "legend" assessed Vietnam as the only country in Southeast Asia capable of creating a software services enterprise like FPT. He affirmed that FPT in particular and Vietnam in general are "unique." Narayana Murthy asserted that Vietnam has recently emerged as a global technology destination, reflecting the country's commitment and investment. He also praised the courage, diligence, discipline, creativity, and ambition of many generations of Vietnamese people. Thanks to these qualities, in the next 20 years, Vietnam will soon become one of the leading developed countries in Asia and one of the fastest-growing countries in the world . Regarding FPT, from its early years, the founders faced many difficulties. However, thanks to good leadership and a bit of luck, the group has risen and achieved many successes. He believes FPT will achieve even greater success in the future.

Narayana Murthy assessed Vietnam as the only country in Southeast Asia capable of creating a software services business like FPT.

It is known that last year was the first time FPT reached the milestone of $1 billion in revenue from overseas markets. Last year, FPT's customer profile saw its first client with sales exceeding $200 million. This client, based in the US, is the only company in the world providing a complete solution suite for automotive distributors, covering inventory, marketing, sales, after-sales service, and operations. In the future, the company will implement a balanced strategy, developing simultaneously across markets including the US, Japan, and APAC, with 30-35% of each market, ensuring growth exceeding 25%. Simultaneously, the company will shift its customer base, specifically starting in 2018 with a "whale hunting strategy" focusing only on million-dollar revenue clients, and currently 80% of its clients generate million-dollar revenue for FPT Software. “After 24 years of globalization, FPT reached $1 billion in IT services revenue from overseas markets in 2023, and Infosys also achieved the same feat in a similar timeframe. Therefore, I believe that FPT will reach the next milestone, $2 billion in IT services from overseas markets, much faster, with immense determination, courage, and relentless effort. FPT is and will contribute significantly to Vietnam's future growth,” Mr. Narayana Murthy emphasized. Drawing from Infosys's practical experience, the founder of Infosys, Narayana Murthy, believes that to succeed, in addition to choosing high-demand sectors, businesses need to ensure three crucial elements: Sales, Financial Control, and Human Resources. “If we can't sell our products, the company won't have revenue, and without revenue, the company can't operate. Once we have revenue, we must ensure all expenses are controlled. Let's try to spend less than the company has. And another important thing is that to ensure the operation of all departments in the company, we need a good team of personnel.” According to Indian IT legend Narayana Murthy, the most important thing for a company is not to generate profit, but to create jobs. He believes that when you create more jobs, sales and profits will naturally follow, because that is the root of business, while sales and profits are just consequences. Sharing the same viewpoint as the founder of Infosys, Mr. Truong Gia Binh, Chairman of the Board of Directors, stated that FPT is also doing the same, aiming to create more jobs to change the lives of young people and aiming for the milestone of 1 million employees by 2035.

Mr. Narayanan Murthy visits and works with FPT leaders and member companies.

Infosys – the "father" of India's information technology industry – boasts a history of rapid growth. Infosys is known as a long-established company in India, founded in the early 1980s with relatively small initial capital. Mr. NR Narayana Murthy shared that when he founded the company, his initial dream was to become one of the most important businesses in India. However, instead of money, he prioritized respect above all else. This has been the guiding principle throughout the company's establishment and development. Just six years after its founding, Infosys opened its first branch in Boston, USA, and quickly became a public company in 1993. In 1999, the company achieved revenue of $100 million and its shares were listed on the NASDAQ stock exchange in the United States. Not stopping there, they continued their rapid growth, opening numerous branches in other countries and reaching revenue milestones of $1 billion in 2004 and $10 billion in 2016. Infosys is currently the 3rd largest information technology company in India in 2017 and the 596th largest company in the world by revenue. In August 2021, amidst the boom in technology stocks, Infosys's market capitalization reached $100 billion for the first time, becoming the fourth Indian company to achieve this milestone.

FPT

Source: https://fpt.com/vi/tin-tuc/tin-fpt/duoc-huyen-thoai-cntt-an-do-khen-doc-nhan-vo-nhi-ceo-fpt-mo-co-nhieu-ky-lan