June 18, 2024
Hanoi, Vietnam
Global IT service provider FPT Corporation has been featured in the inaugural Fortune’s Southeast Asia 500 as the largest IT services company and the seventh largest company in the SEA region’s technology sector. This recognition by Fortune also spotlights FPT as the only Vietnam-headquartered tech firm, affirming its positioning as a trusted IT leader with innovative, end-to-end services and solutions for regional and global enterprises.
FPT is ranked 160th across all sectors, as recorded by its 2023 revenue of USD 2.17 billion. This figure represents a growth rate of 19.6%. Its three core sectors—technology, telecommunications, education, investment, and others—accounted for 60%, 30%, and 10% of the total revenue, respectively. This growth was mainly driven by the heightened global drive for digital transformation, one of FPT’s most in-demand services worldwide, which saw a 42% year-on-year revenue increase.
Regarding the global IT services segment, the Asia Pacific market accounted for 25% of the 2023 total revenue, increasing by 38% compared to 2022. The company has been consistently featured in regional awards and industry research studies by leading research and advisory firms like Gartner, Forrester, and IDC, most notably with the recent ranking on “Gartner Market Share: Services, Worldwide, 2023” as one of Asia’s Top 50 IT Services Companies.
The APAC region and Southeast Asia, in particular, also see some of FPT’s most prolific partnerships. Notably, FPT is the first Vietnamese tech firm to join the SAP® Regional Strategic Services Partner (RSSP) initiative in Asia Pacific Japan and the first in Southeast Asia to partner with Mila, the world’s leading institute for AI. Its commitment to AI was further strengthened with the recent collaboration with chip giant NVIDIA, aiming to offer a one-stop shop for AI products, GPU infrastructure, and domain expertise for clients in Vietnam and all FPT’s presence areas.
On a global scale, FPT is the partner of over 1,000+ clients worldwide, 91 of which are Fortune Global 500 companies in Aviation, Automotive, Banking, Financial Services and Insurance, Healthcare, Logistics, Manufacturing, and so on, helping them enhance their competitiveness with world-class solutions and highly scalable workforce across 30 countries.
Looking forward in the APAC region and beyond, FPT will continue to align its trajectory with five focused areas: Artificial Intelligence, Automotive, Semiconductor, Digital Transformation, and Green Transformation. By 2030, the firm aims to achieve 5 billion USD in revenue from IT services for the global market, solidifying its stature as a world-class technology solutions provider.
Mr. Nguyen Van Khoa, FPT’s Chief Executive Officer, said: “With the relentless efforts of tens of thousands of employees, FPT has surpassed its peak, expanded its reach, and enhanced its technological capabilities on a global scale. Facing new opportunities in the market, the IT industry, and emerging technology trends, FPT will continue to create world-class, long-term, and sustainable value and benefits for stakeholders, contributing to the economic development of Vietnam as well as the region.”
This is the first time Fortune releases the rankings for the largest companies in the Southeast Asia region based on their revenues in the 2023 fiscal year. The list includes companies from seven countries, including Indonesia, Malaysia, Thailand, Singapore, Vietnam, the Philippines, and Cambodia.