As many large corporations in real estate, finance, and retail face challenges, FPT Group, led by Truong Gia Binh, is experiencing a surge in stock value, positioning the Da Nang-born businessman closer to becoming Vietnam’s next USD billionaire.

In an interview with Nikkei, Pham Minh Tuan, CEO of FPT Software, stated that FPT is exploring investment opportunities to expand its operations in Japan, focusing on providing cloud services and AI solutions to support digital transformation.

Two decades after equitization, FPT is now the largest private Vietnamese economic group, big technology exporter and partner with the world’s largest tech giants in the country.

Vietnam’s outward investments have gained initial encouraging achievements, but experts have warned of high risks.

“It is expected that we will be one of ASEAN’s leading AI (artificial intelligence) hubs,” said Vu Hong Chien, director of FPT Quy Nhon.

FPT Software has recently become a global system integrator with Creatio, a US-based company providing a no-code development platform, in an aim to promote no-code solutions globally.

FPT on December 14 announced the establishment of FPT Automotive specializing in  automotive software, with headquarters in Texas, the US, in the plan to enter the automobile software market worth hundreds of billions of dollars.

The Ministry of Information and Communications (MIC) has granted a license to FPT Retail to provide telecommunications services on terrestrial mobile telecommunications networks.

FPT Semiconductor has designed and manufactured three lines of source chips and inked the first contract for 25 million chips in 2024 and 2025 with its partners.

Vietnam’s FPT Software has launched a new subsidiary, FPT Semiconductor, marking a key milestone for the company as it enters the booming semiconductor industry.

Amid stiffening competition, Vietnamese tech firms are strengthening their global footprints, contributing to increasing the position of local digital products and services in the global supply and value chain.

Vietnam has 64,000 digital enterprises and the figure is on the rise, which is a good condition for the country to promote its technological self-reliance to rise stronger, according to General Director of FPT Nguyen Van Khoa.

Vietnam is rated one of the 10 emerging markets in the global data centre market, with impressive growth, international standard service delivery capacity, and a large number of organisations and enterprises, ResearchAndMarkets has said.

However, despite the vast potential of the equity market, the ongoing technical outages at the HSX have lowered investors’ appetite, as their buy and sell orders rarely match up.

FPT Corporation ended the year of 2020 successfully despite the Covid-19 pandemic, with revenue and profit increased 7.6% and 12.8% year-on-year, respectively. 

Every change causes pains. However, businesses have no other choice than to move ahead and carry out digital transformation.

The Ministry of Information and Communications, on August 13, held a ceremony to debut the akaChain blockchain platform, as part of a programme introducing “Make in Vietnam” digital platforms.

Vietnam has great potential, which will help digital transformation proceed quickly and with fewer risks than many other countries.

Vietnam will commercialise 5G network in October using entirely domestically produced equipment, according to the Ministry of Information and Communications (MIC).