The contract reflects a strategic shift from the Time and Materials (T&M) model to Managed Services, covering IT management and system oversight for the client over three years. More than 1,000 FPT software experts across onshore, nearshore, and offshore teams will be involved.

As part of this project, FPT Software will oversee 75 software applications to ensure operational consistency and high performance for the client. Services will also extend to platform architecture, development, and maintenance, focusing on the Salesforce and ServiceNow platforms. This support allows the client to concentrate on business growth strategies.

An FPT executive noted the company’s growth trajectory: it took FPT 8 years to reach $10 million in annual revenue, 14 years to hit $100 million, and 17 years to surpass $200 million. Now, this single contract exceeds the company’s entire revenue in its 17th year. With this success, FPT’s goals of $1 billion in customers, contracts, and profits are within reach.

FPT Chairman Truong Gia Binh commented, “This contract is not only a commercial victory but also a testament to FPT’s capabilities on the global stage. Reflecting on our journey since 2020, when we faced unprecedented challenges during the COVID-19 pandemic, we showcased resilience and adaptability. Securing this contract required not only technological innovation but also the intellectual strength of Vietnam, leaving a mark on the global digital landscape.”

In addition to this U.S. contract, FPT recently signed a Memorandum of Understanding (MoU) with THIQAH, a leading smart business solutions provider in Saudi Arabia. The strategic partnership will blend FPT’s global expertise in digital transformation with THIQAH’s deep local market knowledge and extensive business network in Saudi Arabia.

Together, the companies will leverage advanced technologies like artificial intelligence, automation, and data analytics to develop innovative digital solutions. These solutions aim to meet the rising demand for tech-driven productivity and operational enhancements, supporting the sustainable growth of Saudi businesses across key industries.

FPT’s Director of Middle Eastern Markets, Rimah Ghaddar, stated, “Our collaboration with THIQAH will create strong synergies between FPT’s global expertise and the ambitious vision of the Kingdom. This partnership will drive business growth, strengthen bilateral ties, and shape the future of technology in the Middle East.”

FPT has also recently opened a new office in Tokyo’s prestigious Mita district in Minato-ku, a high-end area that houses major corporations like NEC Global and KCCS. This office will serve as FPT’s new Japan headquarters.

FPT currently has over 3,500 employees working in 17 offices and development centers in Japan, alongside nearly 15,000 global experts dedicated to the Japanese market, serving over 450 clients. FPT aims to increase its Japan-based workforce to 5,000 by the end of 2025, with a goal of reaching $1 billion in annual revenue in Japan by 2027.

According to FPT’s report for the first seven months of 2024, the group’s IT services business in foreign markets continued impressive growth, reaching VND 17,202 billion ($717 million), up 29.9%. This growth was driven by all four primary markets, with Japan and APAC leading at 34.5% and 34.3%, respectively. Newly signed overseas contracts reached VND 21,553 billion ($899 million), a 23.8% increase.

Winning 28 major projects valued over $5 million each this year demonstrates the rising global demand for tech investment and confirms FPT’s capabilities as a technology provider.

Thai Khang