FPT “all in” on AI, automotive and semiconductor – Channel Asia Singapore
AI, automotive, semiconductor, digital transformation and green transformation are FPT’s key areas from 2024 – 2026.
This is according to FPT chairman Dr. Truong Gia Binh who highlighted that these five areas have shaped the course of modern history and are instrumental in solidifying Vietnam’s position as a global hub for business and innovation.
“Starting from 2024, the Corporation remains committed to deep investment, focusing on the development of high-value technologies like AI and Data, and ventures in rapidly growing sectors such as Automotive, Healthcare, Banking, Insurance, and Energy,” FPT EVP and FPT Software CEO Pham Minh Tuan said.
AI is at the core of FPT’s development strategy, aiming to serve at least 50 per cent of Vietnamese citizens and 300 million global citizens. To do so, FPT is dedicated to expanding its AI ecosystem and embedding AI into its solutions and services.
Regarding automotive, FPT invests in intelligent solutions. FPT Automative aims to move from software outsourcing to technical design for software-defined vehicles, targeting a 50% annual growth rate and a revenue of 1 billion USD by 2030.
On semiconductor, FPT aims to supply chips to more global customers and enhance workforce development to “fully integrate Vietnam into the global semiconductor ecosystem”, according to Dr. Binh.
In addition, FPT aims to accelerate digital transformation and promote green transformation with smart transformation initiatives, establishing its position as a leading partner for global businesses in these areas.
FPT will focus on mergers & acquisitions (M&A) to achieve those goals, building on its successful investments and M&A in 2023 such as NAC, Cardinal Peak, AOSIS, Landing AI and Intertec International.
“FPT wants to acquire companies that manufacture and design cars,” Dr. Binh said. This year’s M&A activities will concentrate in the US, while expanding to Japan, South Korea, Singapore and Europe.
In 2023, FPT increased revenue by 19.6 per cent and pre-tax profit by 20.1 per cent from 2022. It marked a significant milestone for FPT as its global market IT services revenue, generated by subsidiary FPT software, exceeded $1 billion.
FPT hopes to achieve 17.5% revenue growth and 18.2% profit increase in 2024.