Board’s messages
Play Video
“The pressures of Covid-19 continuously muted the impact of business activities worldwide in 2021, specifically in Vietnam. Approximately 62% of employees lost their jobs and 85% of businesses closed or temporarily ceased operating. Millions of children were not able to attend school. Millions of people ran out of money to pay for food and accommodation. It was a life-and-death struggle for so many. As a leading technology firm, FPT is ready with a spirit of “Rebirth”, actively find our place and choose our way to contribute towards the fight against Covid-19 to protect our people and business.”.
Chairman
“With determination and technological capabilities, understanding, and dedication, we tightened up with provincial leaders as well as domestic and international customers. FPT devoted all its efforts day and night to both fight against the pandemic and promote socio-economic development strategies and digital transformation strategies for provinces and cities. Continuous investment in expanding new technology solutions and services to complete the comprehensive digital transformation ecosystem for hundreds of thousands of businesses.“
CEO
“FPT has marked 2021 as a year of transformation in all aspects. With the spirit of endless innovation and creativity and the continuous development of technological solutions and services, as well as flexibility in business activities, operations, and governance. FPT has pioneered using technology as a tool to help to identify and seize all opportunities proactively. FPT has been expanding markets, ensuring employees’ safety, and accompanying organisations and businesses to increase sustainable economic growth..”
35,657
Revenue by business sector
(billion VND)
6,337
![](https://bctn2021.fpt.com.vn/wp-content/uploads/2022/03/line-top.png")
Profit before tax by business sector
(billion VND)
FPT continues to affirm its position as a leading technology enterprise in the market through major and prestigious awards in Vietnam and around the world.
Along with achieving high growth in business indicators, in 2021, FPT has also marked many outstanding activities in many aspects from business, investment, technology to activities for the community.
In the 2022 – 2024 period, FPT has been concentrating on a Data-Driven and Customer-Centric strategy with the core mission being that of “Promoting rapid growth, developing new technology products, as well as providing digital transformation services on a large scale”.
Overcoming all the unprecedented difficulties in history, FPT has proactively, flexibly, decisively grasped and created opportunities, stepped up the provision of new products/solutions/services, and enhanced transformation. Internal transformation and improvement of human resources create momentum for fast and sustainable economic growth in the long term.
We believe that the way to face these challenges and to find new opportunities is not only to promote economic growth but also to pay more attention to the community and environment. In 2021, FPT’s sustainable development activities were recorded with an evaluation result of 76%, an increase of 11 percentage points compared to 2020.
Dear valued Shareholders, Customers, Partners, and all Employees,
The pressures of Covid-19 continuously muted the impact of business activities worldwide in 2021, specifically in Vietnam. However, while the pandemic caused economic disruption in different ways, especially as many localities in critical economic regions had to implement prolonged social distancing measures in the third quarter of 2021, FPT still had the good fortune to find unique growth opportunities within this context.
According to a survey conducted by VnExpress, approximately 62% of employees lost their jobs and 85% of businesses closed or temporarily ceased operating. Millions of children were not able to attend school. Millions of people ran out of money to pay for food and accommodation. It was a life-and-death struggle for so many. Therefore, as a leading technology firm, on the 33rd birthday of the Corporation (September 13th, 2021), I called on FPT employees to be ready with a spirit of “Rebirth”. Each member of staff should actively find their place and choose their way to contribute towards the fight against Covid-19 to protect our people and business.
With the support of the Government and provincial leaders across the country, last year, FPT promoted high-level exchanges with the leadership of more than 40 provinces. We also signed cooperation agreements on digital transformation with 14 localities and raised awareness of digital transformation to nearly 20,000 local leaders at all levels. In addition, we organised dozens of executive-level meetings with the country’s leading private enterprises in critical economic sectors.
With the best efforts of all leaders and employees of the Corporation, 2021 profit before tax increased impressively at 20.4%. The pre-tax profit of the Technology sector contributed the most (44%), followed by the Telecommunications sector (38%). Earnings of the Education, Investment and other sectors accounted for 18%.
In IT services for foreign markets, all markets witnessed incredible revenue growth. The most significant contribution came from the US market (52%), followed by the Asia Pacific region (27%). More than 50% of the total revenue of digital transformation services was derived from Cloud computing. Especially in 2021, FPT gained more trust from large customers, securing 19 contracts worth more than 5 million USD per deal, doubling in value when compared to 2020.
In IT services for the domestic market, revenue and profit grew by 29% and 33.9%, respectively YoY. In particular, in 2021, under the complicated circumstances that heavily affected the private sector and nationwide localities, FPT promptly launched the FPT eCovax solution suite as a technology “vaccine” for businesses and organisation. Moreover, it showed our agility and flexibility in responding to a global crisis.
In the telecommunications sector, the number of broadband customers increased by nearly 16%. Especially, the number of PayTV subscribers increased by almost 21%, illustrating the customers’ higher demand while working, learning, and entertaining themselves from home during lockdown. Furthermore, the pre-tax profit margin of the Telecommunications sector continued to improve by 4.8% (from 16.7% to 17.5%) thanks to our efforts in increasing business efficiency, saving costs, and optimising governance.
In the field of Education, FPT Education continuously affirmed its position as the largest private educational institution in Vietnam. Specifically, the enrolment rate increased by 43%; the total number of full-time equivalent students at all levels reached nearly 74,313 students.
In addition, when the Southern region suffered heavy losses due to Covid-19, FPT implemented a social charity project with the goal of intending to nurture children deprived of parental care due to Covid-19 in FPT City Da Nang.
Entering 2022, with the positive growth rate forecast of global digital transformation at 16% (reaching 2.4 trillion VND in 2024) and the doubled requirements of Cloud computing technology in the next three years, FPT expects a 20.2% growth in pre-tax profit, reaching 7,618 billion VND.
The growth strategy for 2022 continues to be on the basis of data-driven operations, the customer-centric motto, and breakthrough technology solutions. FPT will deploy a series of innovative start-ups with our young talents. Some of which will be promoted at the Corporation level, focusing on four core areas: Eating (food issues), Learning (education issues), Working (job issues), and Well-being (healthcare issues). Those projects are expected to spur significant advancement as the economy enters the adaptive phase in the new normal. Some other key areas and solutions include Robotic process automation (akaBot), Smart City (a new trend of localities), FPT eCovax (the technology ‘vaccine’ solution suite for businesses and organisations), the virtual meeting solution (OnMeeting), Pay TV (FPT Play), and the Cloud computing technology using Artificial Intelligence (FPT Cloud).
FPT’s message for 2022 is “Determined to fight”: being strong-willed to stand and fight for fundamental values for each individual and family; maintaining the first position in critical domestic projects; making a drastic breakthrough globally and increasing the determination to progress in digital transformation.
Never have we been more confident of our younger, highly specialized and dedicated workforce and our responsive business strategies, along with beneficial public policies, strong support from local leaders and leading private partners. I firmly believe FPT will have a vigorous year ahead, scaling ever higher heights to achieve new areas of success .
Looking back at the past year, I would like to express my deepest gratitude to the entire team for their unremitting efforts and dedication. In addition, let me extend my appreciation to all of our esteemed shareholders, customers, and partners. May this year bring you an abundance of joy, health, and victory!
Yours faithfully,
Chairman’s
Nearly every business in the world was unprecedentedly hit in 2021. The Covid-19 pandemic successively paralyzed the production and business activities and severely disrupted global value chains. All over the world, the reduction in working hours equated to the loss of 255 million full-time jobs. In Vietnam, nearly 100,000 businesses closed, and 1.4 million people lost their sources of income.
The challenges had still been serious in the new normal because of the outbreaks of new Covid-19 variants.
Facing the exceptional “war” in human history, the Boards and more than 37,000 employees of FPT in 26 countries and territories had their hearts become knit together to fight against the disruptive attacks.
Enhancing internal synergies, controlling over the situation
With determination and technological strength, FPT quickly brought into play its advantages and seized every opportunity for growth. More than ever, we tightened up with provincial leaders as well as domestic and international customers.
With provinces and cities, FPT devoted all its efforts day and night to both fight against the pandemic and promote socio-economic development strategies and digital transformation. In 54 provinces and cities that have issued Digital Transformation Resolutions/Programs, there were 40 localities that had strategic cooperation agreements and digital transformation training sessions with FPT.
With businesses and organizations, thanks to responsive solutions to meet urgent needs, FPT has further expanded its customer base of all sizes and domains. We gain much trust from leading organizations and enterprises with large-scale projects, such as a digital transformation project worth 40 million USD for the Singapore Government. A series of consecutive records were set, the remarkable time of operating an ERP project in just 100 days for Coteccons, or the most prominent digital transformation project in Southeast Asia for Dat Xanh Group… In addition, FPT eCovax – the solution suite for enterprises – has given 3,000 SMEs access to our digital transformation solutions.
Due to creativity and flexibility in operations, like the “3 on-site” working model, we have ensured thousands of such projects successfully arrive at the finish line. As a result, the revenue of the IT services in foreign markets has reached 650 million USD for the first time, increasing by 21.2%.
In the telecommunications sector, FPT invested in the telecommunications infrastructure system to increase the international bandwidth to over 3,000 Gbps, helping facilitate the digital transformation process. In addition, because of outstanding efforts in transforming the sales and customer care system, the number of Internet users and pay-TV subscribers kept maintaining a high growth rate, helping increase the coverage from 55% of total local districts in 2020 to 59% of that in 2021. Furthermore, the profit of the pay-TV service segment increased more than eight times thanks to surpassing the breakeven point from mid-2020.
The quality and reputation of FPT Education were also reconfirmed with global certifications, attracting a large number of new enrolments. As of 2021, the number of full-time equivalent students across the system increased by 43%. Over and above, we have been working with 26 provinces and cities to seek opportunities to expand our facilities and, at the same time, explore new curriculums for multi-educational levels, aiming to become a large-scale mega education system in Vietnam.
Why can we do this?
In fact, it is based on our deep insights into strategic goals and pain points of localities, businesses, and customers.
On the basis of the substantial investment in core technologies such as AI, Cloud, Big Data, Blockchain, IoT, Automation…, and the constant expansion of digital solutions, FPT made its comprehensive digital solution for governments, cities, and businesses completed, delivering excellent experiences for end-users. Therefore, we must say that the opportunities and development possibilities of the Made-by-FPT technology ecosystem are unlimited, thereby creating a long-term growth momentum for the Corporation.
Moreover, the strategic investment in the corporate governance platform Base.vn has created a positive resonance in the past year. The deal has helped FPT expand its digital transformation ecosystem to accompany hundreds of thousands of SMEs in Vietnam and provide new products – SaaS (software as a service) that are easy to use, access, and upgrade with reasonable costs. It is possible to say that Base’s fantastic growth rate has proved the effectiveness of the M&A strategy that we have been implementing.
FPT has also brought into play its internal strength from upholding the spirit of disciplinary compliance and excellent data-driven governance. Thanks to the synchronous connection system, our customer care services have been automated, personalized, and optimized. In addition, FPT Data Lake, launched in 2020, has helped the Boards smoothly manage the business and financial data in real-time. It has been the foundation for FPT’s leaders to make quick and accurate decisions as well as to keep up with market developments and needs.
With 43 internal digital transformation projects, FPT has become a real-time data-driven enterprise, moving towards paperless/cashless offices and self-delivered services. The results were noticeable as FPT saved 98 billion VND in operating expenses and increased 141 billion VND in revenue last year.
Additionally, human resources full of enthusiasm and youth, with bold technology and self-discipline spirits, have been our core factors to lead us to success in the most challenging times. There were 500 managers at all levels who were rotated in 2021 in order to foster and improve management capacity to become the core leadership team of the Corporation in the future.
Thanks to all employees’ careful preparation and efforts, in 2021, FPT’s revenue and profit before tax witnessed an impressive increase of 19.5% and 20.4% YoY, respectively. Besides, earnings per share reached 4,349 VND, up 21.5%.
Remarkable growth
Digital transformation will continue to be a significant trend globally. According to Gartner’s forecast, the global IT services market will maintain a reasonable growth rate of 6% in 2022. The Cloud technology segment will double in the next three years; AI will increase seven times within 7 years. These technologies will help businesses respond resiliently and grow sustainably.
FPT will continue to anticipate the new technology trends of the Internet era such as Web 3.0, Metaverse,… and create high-class digital transformation services and solutions, realizing breakthrough opportunities. The orientation will not only enhance FPT’s prestige but also promote the sustainable development of shareholders, investors, partners, customers, and all of our employees.
Based on the existing R&D platforms, FPT will promote exploiting the power of technology. We will aim to provide a new generation of Cloud platforms and add high-class utilities, including IaaS (Infrastructure-as-a-Service), PaaS (Platform-as-a-Service) to SaaS (Software-as-a-Service). We will also integrate Artificial Intelligence into all Made-by-FPT products to empower our ecosystems and focus more on digital currency solutions as well as blockchain applications.
In 2022, the Made-by-FPT ecosystem – solutions and products developed by our leading, experienced experts and technical engineers – will be more strongly developed, serving diverse global customers and leading us to realize the targeted growth rate of 19% in revenue and 20.2% in profit before tax.
FPT Education will continue to expand its facilities in Hanoi, Ho Chi Minh City, Can Tho, Da Nang, Binh Dinh. In addition, we will put into operation two new high schools in Bac Ninh and Hai Phong and continue to complete investment procedures for escalator-school projects in Quang Nam, Bac Giang, Ha Nam, … in 2022.
On behalf of the Board of Management, I would like to express my gratitude to our shareholders, investors, partners, customers, and employees who have always trusted us during the past year. From the bottom of my heart, I look forward to your continuous companionship in the coming time.
Best regards,
CEO
Dear valued Shareholders, Customers, Partners, and all Employees,
The pressures of Covid-19 continuously muted the impact of business activities worldwide in 2021, specifically in Vietnam. However, while the pandemic caused economic disruption in different ways, especially as many localities in critical economic regions had to implement prolonged social distancing measures in the third quarter of 2021, FPT still had the good fortune to find unique growth opportunities within this context.
According to a survey conducted by VnExpress, approximately 62% of employees lost their jobs and 85% of businesses closed or temporarily ceased operating. Millions of children were not able to attend school. Millions of people ran out of money to pay for food and accommodation. It was a life-and-death struggle for so many. Therefore, as a leading technology firm, on the 33rd birthday of the Corporation (September 13th, 2021), I called on FPT employees to be ready with a spirit of “Rebirth”. Each member of staff should actively find their place and choose their way to contribute towards the fight against Covid-19 to protect our people and business.
With the support of the Government and provincial leaders across the country, last year, FPT promoted high-level exchanges with the leadership of more than 40 provinces. We also signed cooperation agreements on digital transformation with 14 localities and raised awareness of digital transformation to nearly 20,000 local leaders at all levels. In addition, we organised dozens of executive-level meetings with the country’s leading private enterprises in critical economic sectors.
With the best efforts of all leaders and employees of the Corporation, 2021 profit before tax increased impressively at 20.4%. The pre-tax profit of the Technology sector contributed the most (44%), followed by the Telecommunications sector (38%). Earnings of the Education, Investment and other sectors accounted for 18%.
In IT services for foreign markets, all markets witnessed incredible revenue growth. The most significant contribution came from the US market (52%), followed by the Asia Pacific region (27%). More than 50% of the total revenue of digital transformation services was derived from Cloud computing. Especially in 2021, FPT gained more trust from large customers, securing 19 contracts worth more than 5 million USD per deal, doubling in value when compared to 2020.
In IT services for the domestic market, revenue and profit grew by 29% and 33.9%, respectively YoY. In particular, in 2021, under the complicated circumstances that heavily affected the private sector and nationwide localities, FPT promptly launched the FPT eCovax solution suite as a technology “vaccine” for businesses and organisation. Moreover, it showed our agility and flexibility in responding to a global crisis.
In the telecommunications sector, the number of broadband customers increased by nearly 16%. Especially, the number of PayTV subscribers increased by almost 21%, illustrating the customers’ higher demand while working, learning, and entertaining themselves from home during lockdown. Furthermore, the pre-tax profit margin of the Telecommunications sector continued to improve by 4.8% (from 16.7% to 17.5%) thanks to our efforts in increasing business efficiency, saving costs, and optimising governance.
In the field of Education, FPT Education continuously affirmed its position as the largest private educational institution in Vietnam. Specifically, the enrolment rate increased by 43%; the total number of full-time equivalent students at all levels reached nearly 74,313 students.
In addition, when the Southern region suffered heavy losses due to Covid-19, FPT implemented a social charity project with the goal of intending to nurture children deprived of parental care due to Covid-19 in FPT City Da Nang.
Entering 2022, with the positive growth rate forecast of global digital transformation at 16% (reaching 2.4 trillion VND in 2024) and the doubled requirements of Cloud computing technology in the next three years, FPT expects a 20.2% growth in pre-tax profit, reaching 7,618 billion VND.
The growth strategy for 2022 continues to be on the basis of data-driven operations, the customer-centric motto, and breakthrough technology solutions. FPT will deploy a series of innovative start-ups with our young talents. Some of which will be promoted at the Corporation level, focusing on four core areas: Eating (food issues), Learning (education issues), Working (job issues), and Well-being (healthcare issues). Those projects are expected to spur significant advancement as the economy enters the adaptive phase in the new normal. Some other key areas and solutions include Robotic process automation (akaBot), Smart City (a new trend of localities), FPT eCovax (the technology ‘vaccine’ solution suite for businesses and organisations), the virtual meeting solution (OnMeeting), Pay TV (FPT Play), and the Cloud computing technology using Artificial Intelligence (FPT Cloud).
FPT’s message for 2022 is “Determined to fight”: being strong-willed to stand and fight for fundamental values for each individual and family; maintaining the first position in critical domestic projects; making a drastic breakthrough globally and increasing the determination to progress in digital transformation.
Never have we been more confident of our younger, highly specialized and dedicated workforce and our responsive business strategies, along with beneficial public policies, strong support from local leaders and leading private partners. I firmly believe FPT will have a vigorous year ahead, scaling ever higher heights to achieve new areas of success .
Looking back at the past year, I would like to express my deepest gratitude to the entire team for their unremitting efforts and dedication. In addition, let me extend my appreciation to all of our esteemed shareholders, customers, and partners. May this year bring you an abundance of joy, health, and victory!
Yours faithfully,
Chairman’s
Nearly every business in the world was unprecedentedly hit in 2021. The Covid-19 pandemic successively paralyzed the production and business activities and severely disrupted global value chains. All over the world, the reduction in working hours equated to the loss of 255 million full-time jobs. In Vietnam, nearly 100,000 businesses closed, and 1.4 million people lost their sources of income.
The challenges had still been serious in the new normal because of the outbreaks of new Covid-19 variants.
Facing the exceptional “war” in human history, the Boards and more than 37,000 employees of FPT in 26 countries and territories had their hearts become knit together to fight against the disruptive attacks.
Enhancing internal synergies, controlling over the situation
With determination and technological strength, FPT quickly brought into play its advantages and seized every opportunity for growth. More than ever, we tightened up with provincial leaders as well as domestic and international customers.
With provinces and cities, FPT devoted all its efforts day and night to both fight against the pandemic and promote socio-economic development strategies and digital transformation. In 54 provinces and cities that have issued Digital Transformation Resolutions/Programs, there were 40 localities that had strategic cooperation agreements and digital transformation training sessions with FPT.
With businesses and organizations, thanks to responsive solutions to meet urgent needs, FPT has further expanded its customer base of all sizes and domains. We gain much trust from leading organizations and enterprises with large-scale projects, such as a digital transformation project worth 40 million USD for the Singapore Government. A series of consecutive records were set, the remarkable time of operating an ERP project in just 100 days for Coteccons, or the most prominent digital transformation project in Southeast Asia for Dat Xanh Group… In addition, FPT eCovax – the solution suite for enterprises – has given 3,000 SMEs access to our digital transformation solutions.
Due to creativity and flexibility in operations, like the “3 on-site” working model, we have ensured thousands of such projects successfully arrive at the finish line. As a result, the revenue of the IT services in foreign markets has reached 650 million USD for the first time, increasing by 21.2%.
In the telecommunications sector, FPT invested in the telecommunications infrastructure system to increase the international bandwidth to over 3,000 Gbps, helping facilitate the digital transformation process. In addition, because of outstanding efforts in transforming the sales and customer care system, the number of Internet users and pay-TV subscribers kept maintaining a high growth rate, helping increase the coverage from 55% of total local districts in 2020 to 59% of that in 2021. Furthermore, the profit of the pay-TV service segment increased more than eight times thanks to surpassing the breakeven point from mid-2020.
The quality and reputation of FPT Education were also reconfirmed with global certifications, attracting a large number of new enrolments. As of 2021, the number of full-time equivalent students across the system increased by 43%. Over and above, we have been working with 26 provinces and cities to seek opportunities to expand our facilities and, at the same time, explore new curriculums for multi-educational levels, aiming to become a large-scale mega education system in Vietnam.
Why can we do this?
In fact, it is based on our deep insights into strategic goals and pain points of localities, businesses, and customers.
On the basis of the substantial investment in core technologies such as AI, Cloud, Big Data, Blockchain, IoT, Automation…, and the constant expansion of digital solutions, FPT made its comprehensive digital solution for governments, cities, and businesses completed, delivering excellent experiences for end-users. Therefore, we must say that the opportunities and development possibilities of the Made-by-FPT technology ecosystem are unlimited, thereby creating a long-term growth momentum for the Corporation.
Moreover, the strategic investment in the corporate governance platform Base.vn has created a positive resonance in the past year. The deal has helped FPT expand its digital transformation ecosystem to accompany hundreds of thousands of SMEs in Vietnam and provide new products – SaaS (software as a service) that are easy to use, access, and upgrade with reasonable costs. It is possible to say that Base’s fantastic growth rate has proved the effectiveness of the M&A strategy that we have been implementing.
FPT has also brought into play its internal strength from upholding the spirit of disciplinary compliance and excellent data-driven governance. Thanks to the synchronous connection system, our customer care services have been automated, personalized, and optimized. In addition, FPT Data Lake, launched in 2020, has helped the Boards smoothly manage the business and financial data in real-time. It has been the foundation for FPT’s leaders to make quick and accurate decisions as well as to keep up with market developments and needs.
With 43 internal digital transformation projects, FPT has become a real-time data-driven enterprise, moving towards paperless/cashless offices and self-delivered services. The results were noticeable as FPT saved 98 billion VND in operating expenses and increased 141 billion VND in revenue last year.
Additionally, human resources full of enthusiasm and youth, with bold technology and self-discipline spirits, have been our core factors to lead us to success in the most challenging times. There were 500 managers at all levels who were rotated in 2021 in order to foster and improve management capacity to become the core leadership team of the Corporation in the future.
Thanks to all employees’ careful preparation and efforts, in 2021, FPT’s revenue and profit before tax witnessed an impressive increase of 19.5% and 20.4% YoY, respectively. Besides, earnings per share reached 4,349 VND, up 21.5%.
Remarkable growth
Digital transformation will continue to be a significant trend globally. According to Gartner’s forecast, the global IT services market will maintain a reasonable growth rate of 6% in 2022. The Cloud technology segment will double in the next three years; AI will increase seven times within 7 years. These technologies will help businesses respond resiliently and grow sustainably.
FPT will continue to anticipate the new technology trends of the Internet era such as Web 3.0, Metaverse,… and create high-class digital transformation services and solutions, realizing breakthrough opportunities. The orientation will not only enhance FPT’s prestige but also promote the sustainable development of shareholders, investors, partners, customers, and all of our employees.
Based on the existing R&D platforms, FPT will promote exploiting the power of technology. We will aim to provide a new generation of Cloud platforms and add high-class utilities, including IaaS (Infrastructure-as-a-Service), PaaS (Platform-as-a-Service) to SaaS (Software-as-a-Service). We will also integrate Artificial Intelligence into all Made-by-FPT products to empower our ecosystems and focus more on digital currency solutions as well as blockchain applications.
In 2022, the Made-by-FPT ecosystem – solutions and products developed by our leading, experienced experts and technical engineers – will be more strongly developed, serving diverse global customers and leading us to realize the targeted growth rate of 19% in revenue and 20.2% in profit before tax.
FPT Education will continue to expand its facilities in Hanoi, Ho Chi Minh City, Can Tho, Da Nang, Binh Dinh. In addition, we will put into operation two new high schools in Bac Ninh and Hai Phong and continue to complete investment procedures for escalator-school projects in Quang Nam, Bac Giang, Ha Nam, … in 2022.
On behalf of the Board of Management, I would like to express my gratitude to our shareholders, investors, partners, customers, and employees who have always trusted us during the past year. From the bottom of my heart, I look forward to your continuous companionship in the coming time.
Best regards,
CEO