FPT Corporation (FPT) has boldly outlined its strategic vision for the 2024-2026 period, setting a course that will not only shape its future but also potentially redefine global tech agenda.
At the heart of this ambitious roadmap, unveiled at the 2024 Annual General Meeting, are five pivotal areas: Artificial Intelligence (AI), Automotive, Semiconductor, Digital Transformation, and Green Transformation.
A Visionary Approach to AI and Global Impact
Under the visionary leadership of Dr. Truong Gia Binh, FPT’s Chairman, AI is positioned as the cornerstone of the corporation’s growth strategy. With a goal to impact at least 50% of Vietnamese citizens and extend its reach to 300 million individuals worldwide, FPT is on a mission to democratize AI. The expansion of its AI ecosystem, strategic alliances with leading global entities, and the integration of AI across all solutions and services underscore this commitment. Moreover, FPT’s Generative AI and Visual AI are being meticulously crafted to meet the nuanced demands of various industries.
Revving Up the Automotive Sector
2023 marked a significant milestone with the launch of FPT Automotive. Since then, FPT has been steering its focus towards the development of intelligent automotive solutions. The division is set to evolve from software outsourcing to spearheading technical design for software-defined vehicles. With an eye on a 50% annual growth rate, FPT Automotive is racing towards a revenue goal of 1 billion USD by 2030.
Semiconductor Ambitions: Powering Vietnam’s Global Ascent
In the semiconductor arena, FPT is not just aiming to supply chips to a broader global clientele but also to nurture a skilled workforce. Dr. Binh’s aspiration to transform Vietnam into a semiconductor powerhouse reflects the nation’s triumphant narrative in software export. The strategic plan includes forming joint ventures for IC design and testing, as well as collaborating with local authorities to magnetize foreign investment into this sector.
Digital and Green Transformation: A Dual Focus
The period of 2024-2026 is also earmarked for accelerating digital and green transformation initiatives. FPT envisions itself as a vanguard partner for global businesses, driving smart transformation strategies that align with sustainable practices.
M&A: The Catalyst for Growth
Mergers and acquisitions (M&A) remain a critical component of FPT’s strategy, particularly in bolstering the automotive sector. Dr. Binh’s announcement that FPT is eyeing acquisitions in car manufacturing and design signals a robust M&A trajectory, with the US, Japan, South Korea, Singapore, and Europe as focal points. This builds on the successful investments and M&A deals of 2023, including partnerships with NAC, Cardinal Peak, AOSIS, Landing AI, and Intertec International.
A Year of Triumphs and Future Aspirations
The year 2023 was a landmark for FPT, surpassing its financial targets with a 19.6% surge in revenue and a 20.1% increase in pre-tax profit. Notably, FPT Software, a subsidiary, achieved a historic feat by generating over $1 billion in global IT services revenue. Looking ahead, FPT sets its sights on a 17.5% revenue growth and an 18.2% increase in profit before tax for 2024.
Pham Minh Tuan’s Outlook for FPT’s Technological Endeavors
Pham Minh Tuan, FPT EVP and CEO of FPT Software, echoes the corporation’s dedication to deep investment in high-value technologies such as AI and Data. With a strategic focus on burgeoning sectors like Automotive, Healthcare, Banking, Insurance, and Energy, FPT is poised to not only meet but exceed global standards and stake its claim as a world-class entity.
About FPT Corporation and FPT Software
FPT Corporation stands tall as a global technology titan, excelling in consulting, technology, and telecommunications services and solutions. With a formidable global workforce of over 48,000 and a revenue of $2.17 billion in 2023, it’s a beacon of innovation and excellence.
FPT Software, the esteemed subsidiary of FPT Corporation, is a leading technology and IT services provider, headquartered in Vietnam. With a revenue of $1 billion in 2023 and a team of over 30,000 dedicated professionals, it’s at the forefront of driving technological advancements on a global scale.
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