Vietnam’s FPT Group has unveiled plans to reach US$1 billion in revenue from technology services by 2021, with digital solutions cited as the "main growth motivation".
Unveiled during a meeting with 300 investors and brokers in Ho Chi Minh City, the technology giant aims to take a sizeable slice out of an expanding market both regionally and globally.
Under the banner of digital transformation, key leaders from within the business outlined how the provider hopes to firstly transform itself, but also how it plans to capitalise on digital transformation throughout Vietnam and the region.
Truong Gia Binh, chairman of FPT's Board of Directors, believes that with the current growth rate of over 20 per cent per year, the goal of reaching US$1 billion in revenue by 2021 is feasible. He expects the majority of that growth to come from digital transformation projects.
To be among the top digital transformation services companies in the world, the firm sees investments in not just technology but in education as well as key to that growth.
Binh used the example of the Y2K incident having short-term opportunities for countries such as India, however, he believes initiatives such as the fourth industrial revolution with its focus on digital transformation having more long-term opportunities, in the range of 15-20 years, with year-on-year high growth rates and value in the trillions of dollars.
“We currently have an almost unlimited market in the world which shows a great need,” said Binh. “It is vital to better itself to meet market demands.
“In principle, meeting these demands depends on education, so technology and education must come together. If developing well and stimulating innovation, FPT will achieve high and sustainable growth."
Also at the event, FPT leaders shared the financial picture of FPT in the next three years, stating that in the period of 2019-2021, its growth in revenue and profit will be 17.8 per cent and 20 per cent, respectively.