Vietnamese businesses expect USD1 billion in revenue from US market

Tuesday, 19/09/2023 15:48
FPT, Vietnam’s largest IT service provider, expects to create more than 3,000 jobs by 2028 and achieve revenue of USD1 billion from the US market by 2030.
Vietnamese business expects USD1 billion in revenue from the US market. (Photo: VGP)

On September 17-26, Prime Minister Pham Minh Chinh led a high-ranking Vietnamese delegation to attend the high-level week of the 78th session of the United Nations General Assembly, combining bilateral activities in the US and paying an official visit to Brazil at the invitation of Brazilian President Lula da Silva.

As a Vietnamese enterprise investing in the US, Mr. Truong Gia Binh, Chairman of the Board of Directors of FPT Group, said that entering the US market since 2008, FPT has become a trusted partner of more than 300 customers, including many companies on the Fortune Global 500 list, in 30 states across the US.

Therefore, for a group that is oriented towards global development, FPT expects that the working visit of Prime Minister Pham Minh Chinh in the US will be an important "push" for FPT to achieve the goal in the next 5 years, expecting to invest USD100 million per year in the US market, create more than 3,000 jobs by 2028 and achieve revenue of USD1 billion from the US market by 2030.

Mr. Truong Gia Binh said that the US is one of FPT's most important foreign markets, contributing the highest profit with a growth rate of 50% by 2022. There are currently nearly 1,000 people working here.

"We have an elite global workforce supporting more than 30,000 engineers and technology experts serving leading industries in the US such as aviation/space, automotive, finance and banking, transportation and utilities," the FPT Group leader added.

He expressed his hope that the US will invest in supporting FPT University in the field of training engineers in semiconductor chips and artificial intelligence. At the same time, in the spirit of strategic cooperation between the two countries, the US Government supports further expansion of cooperation between US and Vietnamese businesses in commercial services and high technology; and gives comprehensive support in turning Vietnam into a country with a Semiconductor Ecosystem and AI.

The FPT leader also said he hoped that after this working trip of Prime Minister Pham Minh Chinh, the two Governments will create favorable conditions for large enterprises such as Boeing, AT&T, Qualcomm, Intel and Ford to invest in Vietnam.

Most recently, on May 15, 2022, FPT opened a new office in New York City. This is FPT's 10th office in the US. FPT in the US is providing technology services and implementing digital transformation for many prestigious Fortune Global 500 businesses.

This year, FPT aims to reach a revenue milestone of USD1 billion in foreign markets alone. Currently, the Group's total capitalization exceeds USD5 billion, with the goal that by 2035 the Group will reach a capitalization revenue of USD20 billion, with a growth rate of 25% per year./.

Compiled by BTA