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FPT Corporationhas 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 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 the company’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 USD $1 billion by 2030. 

With regard to the semiconductor industry, FPT has a dual target: supplying chips to more global customers and enhancing workforce development. The Chairman emphasised the Corporation’s aspiration to turn Vietnam into a powerhouse in semiconductor, mirroring its past success with software export. According to Dr Binh, the Vietnamese firm 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.

FPT to Accelerate Green Digital Transformation

For the 2024–2026 period, the Company  also aims to accelerate digital transformation while promoting 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 its 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, with the revenue from IT services for the global market exceeding USD $1 billion, generated by its subsidiary FPT Software. In 2024, the Company 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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