Aspiration to bring Vietnamese intelligence to the world

"For us, 1 billion USD is not just a number but a lifetime, a youth, the most beautiful and exciting days. This is also a dream that has come true, a hope that we did not even think of from the beginning", Mr. Truong Gia Binh, Chairman of FPT Corporation, emotionally shared at the beginning of his speech at the event announcing the billion-dollar journey that just took place. The person considered the founder and soul of FPT, told about 35 years ago, when 13 scientists who did not have enough money to live gathered together. Although it was still very difficult, instead of raising pigs and chickens, they shared the same wish to contribute to the prosperity of the country and joined hands to establish FPT Company. 10 years later, from 1998, FPT Corporation began its globalization strategy with the aspiration to bring Vietnamese technology and intelligence to the world. The company "groped" its way abroad using industry standard models and processes such as ISO or CMM, opening an office in Bangalore (India) in 1999, then in Silicon Valley (USA) in 2000, but that journey soon failed. The first customer FPT acquired only brought in modest sales.

FPT has researched new technologies in depth, forming an ecosystem of more than 200 services, products, and solutions to effectively support the digital transformation process of businesses globally.

"We spent 1 million USD and failed. It was only when we went to Japan to learn and learn the lesson: If you want to make software, you have to be willing to speak the local language to start to survive. This is not a calculated roadmap, it is also luck. The idea of ​​growing with technology has been around for 35 years and will continue in the future, it is still correct and unchanged," said Mr. Truong Gia Binh. Also full of emotion, FPT Software General Director Pham Minh Tuan recalled that the 1 billion USD milestone was not as exciting as when the company reached 1 million USD because it was standing between the "line of life and death". That day, when he opened an office in India, he interviewed 100 people, 99 of whom did not know where Vietnam was, and one person said Vietnam was in... North America. After 2 years of opening the office in India and the US, the dotcom technology company collapse occurred, he and the first people at FPT Software quietly returned. Internally, there was a debate about continuing to work domestically or going abroad? After 3 years, the company reached the 1 million USD mark, then it was confident that it could survive and go out to sea. The journey continued with the milestones of 500 million USD, 1 billion USD and will continue...

Overview of the Ceremony to Announce FPT's 1 Billion USD Revenue from IT Services for Foreign Markets_01

From the initial small work with 17 people of FPT Software, up to now, the software company has 30,000 people operating in 30 countries. The story of outsourcing no longer exists when the company has contracts worth millions of dollars to provide full-package services. Currently, 80% of the company's revenue comes from "million-dollar customers" like this. From a subcontractor, the company has become a general contractor for many projects. From only producing mainly in Vietnam, FPT Software now provides a global production model; there are projects deployed simultaneously in 6 countries...

FPT established FPT Automotive based in Texas, USA

"In the US market, it took the world's largest aircraft manufacturer 5 years to accept the company as an IT service provider. But after 10 years, every flight that many people have flown has FPT code. We also provide services to the second airline, which is a "rival" of this airline. This is rare because not many companies can provide IT services to both of the world's leading aircraft manufacturers," FPT's leader shared. In 2023, FPT will have a customer for the first time with a revenue of over 200 million USD. This customer is based in the US, the only company in the world that provides a complete set of solutions for car distributors such as inventory, marketing, sales, after-sales, operations... Surpassing more than 100 international contractors, FPT became the main partner, consulting and providing comprehensive solutions, from business operation platforms to digital transformation of business processes to help improve business efficiency and speed up retail time, helping customers sell more than 5 million cars per year in the US and optimize costs. In Malaysia, FPT surpassed dozens of strong competitors such as Accenture, IBM, Tech Mahindra... to enter the top 3 main contractors implementing digital transformation projects, and is the only service provider on the Microsoft platform for the country's leading oil and gas group for over 15 years. The Minister of Communications and Digital Economy of Malaysia assessed FPT as an important factor in promoting digital transformation for this group in particular and Malaysia in general... "We moved from a country where no one made software and after 25 years, Vietnam became the second largest software exporter in the world. But FPT will not stop here. The aspiration of bringing Vietnamese intelligence abroad and building FPT into a world-class company is the original dream. The important thing now is that not only Vietnamese people carry out this mission, but we have the contribution of more than 3,000 foreigners of many different nationalities to join hands with Vietnam", Mr. Pham Minh Tuan, General Director of FPT Software, emphasized.

According to Mr. Pham Minh Tuan, most recently, the former Japanese CEO who joined FPT Japan shared that he was very eager to find the secret to why FPT was so successful in Japan? And this person clearly saw the difference of FPT: It is the aspiration, the fiery spirit, and the determination of all employees from the lowest to the highest level. Besides, there are 3 strategies that have brought the company to today's success. The first is balanced development. If in the past FPT relied heavily on Japan, now it is developing in Japan, North America and Asia - Pacific in general, each market accounts for 30 - 35% market share to ensure growth and help the company overcome storms. Next is the customer transition strategy. Since 2018, the company has launched a "whale hunting" strategy, focusing only on "million-dollar revenue" customers and now 80% of customers bring in million-dollar revenue each year. Third is the diversity of resources, combining the youth and aspirations of Vietnamese employees with the market understanding of local experts to help the company conquer customers and be ready to hunt for billion-dollar contracts.

Representatives of FPT and Representatives of Yamato Holdings exchanged the cooperation minutes in the presence of Prime Minister Pham Minh Chinh.

"For example, when there was a tsunami in Japan, our people still declared to stay and accompany Japanese customers. Or when there was a Covid-19 pandemic, out of 300 people who needed to eat and sleep at the company, more than a thousand people volunteered to stay to support customers. That created a great motivation for the company to develop when the crisis passed. At FPT Software, you put the mission of bringing Vietnamese intelligence abroad higher than life itself," Mr. Tuan emphasized.

FPT Corporation has set a goal of reaching 5 billion USD in service revenue in foreign markets by 2030, enhancing its position in the group of billion-dollar IT service enterprises globally. The above figures are only temporary because according to the group's leaders, the more important thing is to aim to build world-class standards. According to Mr. Truong Gia Binh, the most important change is that while in the past, FPT always had to proactively seek partners and customers, now many large customers and partners proactively seek out Vietnam and FPT. "In the past, we came to ask for work, now we come to discuss how to do the best work. It's time for the world to need Vietnam. Vietnam is becoming a new destination for the world, rising to number two in the world in software, just behind India," Mr. Truong Gia Binh affirmed.

NVIDIA Corporation Chairman to visit Vietnam in December 2023

Sharing the story of Mr. Jensen Huang - Chairman and CEO of Nvidia Corporation - speaking in Singapore for 40 minutes, in Malaysia for 1 hour, but when coming to Vietnam, this billionaire spent up to 4 hours and even called Vietnam his "second homeland", Mr. Binh said that Vietnam's position has changed. According to the Chairman of FPT, the group's previous opportunities were information technology, then digital transformation and then artificial intelligence (AI). FPT is researching to create supercomputers, data can double within a year and can make more money.

FPT demonstrates comprehensive FPT.AI ecosystem for businesses.

"We don't understand how the world will be in 10 years. But if Vietnam transfers 1 million IT engineers to artificial intelligence, it will be at the top of the world. In the past, since 2013, we branched out to digital transformation and succeeded. From now on, we can be at the forefront, that is the future not only of FPT but also of Vietnam," Mr. Binh emphasized.

People are considered the core factor that creates FPT's success.

To achieve the next goal, FPT has now required all 7,000 employees to study AI; 1,000 people have obtained consulting degrees from Nvidia. According to Mr. Truong Gia Binh, the world has many changes and the first is digital transformation. It is a complete change in the way we live, work, and communicate. Therefore, every organization must transform digitally, digital business, digital government. He pointed out that the need for digital transformation is huge and many corporations want to choose Vietnam as a digital hub to spread to the world. For example, when the Covid-19 pandemic disrupted the supply chain, cars produced in the US were plentiful but could not be shipped due to a lack of chips, the US had to think about how to get chips and Vietnam was mentioned in that. After US President Joe Biden's visit in September 2023 and the Vietnam-US cooperation relationship being upgraded to a new level, the two sides emphasized cooperation in semiconductor technology, digital transformation, energy, etc. That is the second very important shift. The world is changing rapidly and FPT must change and operate rapidly to remain at the top. "The important thing is whether Vietnam can seize the opportunity? We worry and discuss every day. Opportunities do not wait for us and do not wait for anyone. If we are not ready, they will find another place. That is an extremely big challenge. Today, seeing an opportunity coming but not being able to do it is a sin. It requires perseverance, will, never giving up, just moving forward. It took 25 years to get to this point and gives us the confidence to move forward, not talking about numbers anymore but about position in the world," Mr. Binh emphasized.

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