FPT recognised as largest IT firm in Fortune SEA 500 ranking
FPT Corporation has been recognised in the inaugural Fortune Southeast Asia 500 as the largest IT services company in the region and the seventh largest in the technology sector overall. Notably, FPT is the sole Vietnam-headquartered tech firm featured on the list, highlighting its influential role within the IT industry.
The company is ranked 160th across all sectors, having reported a revenue of USD $2.17 billion for 2023, reflecting a 19.6% increase. This growth has been largely attributed to the global push for digital transformation, one of FPT's core services, which witnessed a 42% year-on-year revenue rise. The company's revenue distribution across sectors includes 60% from technology, 30% from telecommunications, and 10% from education and other investments.
This revenue performance has positioned FPT prominently in Fortune's newly created ranking, which reviews the largest companies in Southeast Asia based on their revenues for the 2023 fiscal year. The list encompasses companies from Indonesia, Malaysia, Thailand, Singapore, Vietnam, the Philippines, and Cambodia.
The Asia-Pacific market contributed 25% of FPT's total revenue for 2023, representing a 38% increase compared to 2022. The company has frequently been featured in regional awards and industry research by organisations such as Gartner, Forrester, and IDC. FPT was recently ranked as one of Asia's top 50 IT services companies in Gartner's Market Share: Services, Worldwide, 2023.
FPT has formed significant partnerships within the APAC region and Southeast Asia. It is the first Vietnamese tech firm to join the SAP Regional Strategic Services Partner initiative in Asia Pacific Japan and has partnered with Mila, an institute for AI. Additionally, FPT has collaborated with NVIDIA to provide a comprehensive suite of AI products, GPU infrastructure, and domain expertise for clients in Vietnam and across other locations where FPT operates.
Globally, FPT serves over 1,000 clients, including 91 Fortune Global 500 companies across industries such as aviation, automotive, banking, financial services and insurance, healthcare, logistics, and manufacturing. The company focuses on delivering world-class solutions and a highly scalable workforce across 30 countries to help clients enhance their competitiveness.
Looking ahead, FPT plans to concentrate on five key areas: artificial intelligence, automotive, semiconductors, digital transformation, and green transformation. The company has set a goal to achieve USD $5 billion in revenue from IT services for the global market by 2030.
Nguyen Van Khoa, Chief Executive Officer at FPT, commented: "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."
