Vietnamese technology companies earn billions of dollars from abroad

With their technological capabilities, many Vietnamese technology businesses have achieved great success in the global market in 2023. Many businesses have achieved revenue of millions and billions of dollars.

FPT has just established an automotive software company FPT Automotive in the US with a revenue target of 1 billion USD by 2030 - Photo: VAN ANH

Minister of Information and Communications Nguyen Manh Hung shared during his visit and work at FPT Corporation on February 15, 2024 that the goal of a business is not just profit, after profit is the mission, solving social and human problems. Businesses must have big dreams, otherwise they will return to zero, starting over from scratch. We must break this cycle. Your part is very large, the responsibility is great, if not the greatest. So how did these businesses achieve such success and what are their future prospects?

Capture many markets

At the end of 2023, during his visit and work in Laos, National Assembly Chairman Vuong Dinh Hue visited and worked at Star Telecom Company - a joint venture of Viettel Group in Laos (with the brand name Unitel). Unitel is currently the largest mobile network in Laos. The information provided is impressive. After more than 14 years of investment in Laos, Viettel has contributed to popularizing telecommunications services, especially in rural, remote and isolated areas. The number of Lao people with access to mobile phones has increased 6 times, from 18% to 100%. Unitel's network infrastructure has covered 100% of districts, of which 4G covers 70% (over 96% in the capital), contributing to making Laos one of the countries with the best 4G coverage and speed in Southeast Asia. Unitel is currently the second largest tax and budget contributor in Laos and the first in the telecommunications sector with an average of over 53 million USD per year, creating the most jobs in Laos with more than 27,000 workers. "Unitel is a typical example of Viettel Group's successful foreign investment around the world in recent years. Unitel has also contributed to increasing Laos' telecommunications and digital transformation capacity and making miraculous progress," National Assembly Chairman Vuong Dinh Hue assessed. Not only successful in Laos, in 2023, another telecommunications enterprise invested by Viettel, Natcom, also excelled in taking the lead in Haiti, bringing Viettel to the No. 1 position in six foreign markets (Natcom in Haiti, Metfone in Cambodia, Unitel in Laos, Mytel in Myanmar, Telemor in Timor Leste, Lumitel in Burundi). In addition, the information security sector provided by Viettel has also expanded its business to four international markets including Japan, Myanmar, Timor Leste and Hong Kong. Viettel's digital financial platform has also been exported to seven markets, many of which have high growth rates such as Mozambique (450%), Laos (244%), Haiti (232%), Timor Leste (139%), Burundi (91%)... Viettel's representative said that revenue from foreign markets has grown by 20.5%, maintaining a high growth rate for seven consecutive years, five times higher than the industry average in the world.

Unitel is considered by National Assembly Chairman Vuong Dinh Hue as a typical example of successful foreign investment of Viettel Group - Photo: THANH THUY

Get rid of the "processing" label and proactively earn billions of dollars

Another Vietnamese technology corporation that has also achieved great success in foreign markets in 2023 is FPT, with revenue reaching over 1 billion USD from software exports. It is worth noting that instead of being known as "software outsourcing" as before, FPT's IT services in foreign markets have shifted strongly to higher stages in the technology value chain with 50% of total revenue from abroad coming from digital transformation services and increasing nearly 6 times in the past 5 years. Focusing on new technologies such as Cloud, AI (artificial intelligence), data analysis, etc. According to FPT, in 2023, their profile for the first time had a customer with a sales scale of over 200 million USD. This customer is based in the US and is the only company in the world that provides a complete set of solutions for automobile distributors such as inventory, marketing, sales, after-sales, and operations. Surpassing more than 100 international contractors, FPT has become the main partner, consulting and providing comprehensive solutions, from business operation platforms to digital transformation of business processes to improve business efficiency and accelerate retail sales, helping customers sell more than 5 million cars each year in the US and optimize costs. What is the secret to success? Sharing exclusively with Tuoi Tre, Mr. Tran Trung Hung, General Director of Unitel, said that Unitel has assigned management and important positions to Lao employees so that they can feel that Unitel is their own network. From such things, Unitel has built trust with the Lao people since it began to exploit this market. "The achievements cannot be fully described by numbers, but with the way of "giving first, receiving later", we have become an increasingly trusted network in the land of a million elephants and become a model, a bridge to maintain friendship and solidarity between the two countries and peoples," said Mr. Hung. Similarly, adapting to the local market is also a painful lesson that Mr. Truong Gia Binh, Chairman of FPT Corporation, shared. "FPT once spent 1 million USD and failed until, with the help of "friends" in Japan, they learned the secret: if you want to make software, you have to speak the local language," Mr. Binh said. Besides "tricks" to adapt to new markets, "being proactive" is a secret shared by leaders of the above enterprises on the road to success abroad. For example, FPT focuses on researching the latest technologies and strongly shifting to higher stages in the technology value chain. Thanks to that, capacity in new technology areas becomes a "weapon" for FPT to compete with companies in the same industry from India and China to get contracts and customers with revenue of hundreds of millions of USD as well as playing the role of main contractor in large projects.

Source: Ministry of Information and Communications - Graphics: T.DAT

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