FPT Unveils Strategic Directions, “All In” on AI, Automotive and Semiconductor
FPT Corporation (FPT)
announced its strategic directions for the 2024-2026 period at the 2024 Annual
General Meeting, with five focused areas defined as Artificial Intelligence
(AI), Automotive, Semiconductor, Digital Transformation, and Green Transformation.
According to FPT Chairman Dr. Truong Gia Binh, these five areas have
shaped the course of modern history and will continue to be of critical
importance in decades to come. In Vietnam’s case, they have been instrumental
in solidifying the country's position as a global hub for business and
innovation.
In this direction, AI remains at the heart of FPT's development
strategy, aiming to serve at least 50% of Vietnamese citizens and 300 million
global citizens. The Corporation is committed to expanding its AI ecosystem,
continuing strategic partnerships with the world’s leading names, and embedding
AI into all of its solutions and services. FPT's Generative AI and Visual AI
solutions will also be tailored to cater to specific industry needs.
In the automotive sector, following the launch of FPT Automotive in 2023, FPT’s investment lies in the
development of intelligent solutions, offering comprehensive automotive
services. FPT Automotive aims to transition 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.
With regard to the semiconductor industry, FPT has a dual target:
supplying chips to more global customers and enhancing workforce development.
FPT Chairman emphasized the Corporation’s aspiration to turn Vietnam into a
powerhouse in semiconductor, mirroring its past success with software export.
According to Dr. Truong Gia Binh, FPT will “fully integrate Vietnam into the
global semiconductor ecosystem”. “We will establish joint ventures for IC
design and testing and partner with local authorities to attract foreign
investment in the semiconductor sector,” he added.
For the 2024-2026 period, FPT also aims to accelerate digital
transformation, promote green transformation with smart transformation
initiatives, further establishing its position as a leading partner for global
businesses in these areas.
To accelerate these goals, mergers and acquisitions (M&A) will
continue to be FPT’s strategic focus, especially in supporting the automotive
sector. “FPT wants to acquire companies that manufacture and design cars,” said
Dr. Binh. Its M&A activities this year will center around the US and expand
to Japan, South Korea, Singapore, and Europe. These are built upon successful
investments and M&A deals in 2023, notably with NAC, Cardinal Peak, AOSIS, Landing AI, and Intertec International.
In 2023, FPT exceeded its targets, recording an increase of 19.6% in
revenue and 20.1% in pre-tax profit compared to the previous year. The year
2023 also witnessed a historic milestone for FPT, with the revenue from IT services
for the global market exceeding $1 billion, generated by its subsidiary FPT
Software. In 2024, FPT aims for a 17.5% revenue growth and an 18.2% increase in
profit before tax.
Pham Minh Tuan, FPT EVP and FPT Software CEO, said: “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. We are determined to elevate our standards and surpass expectations to
become a world-class company.”
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