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In the first 7 months of 2024, FPT won bids for 28 large projects with a scale of over 5 million USD. Photo: LN

Sources from FPT said that the corporation has just signed a contract worth 225 million USD from an American customer. The project also marks a shift in the cooperation model with customers, from T&M (Time and Materials) to Managed Services (IT system management and monitoring services) and will last for 3 years with the participation of more than 1,000 FPT software experts at onshore, nearshore, offshore.

Accordingly, FPT Software will take on the management of the entire IT system with 75 software, ensuring consistency and high performance for all customer operations. The scope of services extends to essential areas such as platform architecture, development and maintenance with a focus on the two Salesforce and ServiceNow platforms. This will support customers to focus on business development strategies.

According to an analysis by an FPT leader, it took the corporation 8 years to reach the annual revenue of 10 million USD, 14 years to reach the annual revenue of 100 million USD and 17 years to reach the annual revenue of 200 million USD. Now, with just one contract, the value of the contract is greater than the revenue of the 17th year since its establishment. Therefore, FPT's target of billion-dollar customers, billion-dollar contracts and billion-dollar profits will not be far away.

FPT Chairman Truong Gia Binh shared: “This contract is not only a commercial victory but also demonstrates FPT's capacity in the international arena. Looking back at the beginning of 2020, when the Covid-19 pandemic broke out, we all faced a difficult situation. However, it was at that time that we demonstrated FPT's mettle and ability to adapt quickly. To achieve this contract, it is not only creativity and technology, but also a demonstration of Vietnamese intelligence making its mark on the world digital map.”

FPT recently signed a memorandum of understanding with THIQAH, a leading provider of business intelligence solutions in Saudi Arabia. The strategic partnership will combine FPT’s global capabilities in digital transformation with THIQAH’s local market knowledge and extensive business network in Saudi Arabia.

Through advanced technologies such as artificial intelligence, automation and data analytics, the two parties will jointly develop innovative digital solutions that meet the growing demand for technological solutions that increase productivity and operational capabilities, while driving sustainable growth for Saudi Arabian businesses in key industries.

“The partnership with THIQAH will create a strong synergy between FPT’s global expertise and the Kingdom’s ambitious vision,” said Rimah Ghaddar, Director of the Middle East Market at FPT Corporation. “This partnership will not only drive business growth for the company, but also strengthen the relationship between the two countries and help shape the technological future of the Middle East.”

Recently, FPT opened a new office in Mita district, Minatoku area - one of the most expensive and high-class areas in Tokyo and home to large corporations such as NEC Global, KCCS... This office is also FPT's new headquarters in Japan.

FPT currently has more than 3,500 employees working in 17 offices and development centers in Japan, along with nearly 15,000 global experts specializing in the Japanese market, providing digital services and solutions to more than 450 customers. FPT aims to increase the number of employees working directly in Japan to 5,000 by the end of 2025 and achieve its first billion-dollar revenue in 2027.

According to FPT's report for the first 7 months of 2024, the group's IT Services segment in foreign markets continued to grow impressively, reaching revenue of VND 17,202 billion, equivalent to an increase of 29.9%, led by growth from all 4 markets. In particular, the Japanese and APAC markets continued to maintain high growth rates, increasing by 34.5% (equivalent to a growth of 39% in Japanese Yen) and 34.3%, respectively. The volume of new orders signed in foreign markets reached VND 21,553 billion, an increase of 23.8%.

In the first 7 months of 2024, FPT won bids for 28 large projects with a scale of over 5 million USD, demonstrating the increasing demand for technology investment globally and affirming FPT's technology supply capacity.