FPT opens new office in New York, 10th in US

FPT Software, a subsidiary of Vietnamese FPT Corporation, on May 15 opened an office in New York, marking its 10th in the US to tap the annual IT growth rate of 6% in the world’s leading IT market.

The opening ceremony was attended by Vietnam’s Prime Minister Pham Minh Chinh, who is on his week-long visit to the US.

The opening ceremony of FPT Software's New York Office was attended by Vietnam's PM Pham Minh Chinh (4th from left), and representatives from Vietnam and the US. Photos: VGP

Located at 295 Madison Avenue, Midtown Manhattan, the new office, which is FPT Software’s 58th unit globally, aims to continue providing services and digital transformation to dozens of Fortune 500 in the US.

Midtown Manhattan is the financial hub of New York City, which is home to famous buildings namely the Empire State, Chrysler, and Rockefeller Center that accommodate giant firms like Citigroup, Deloitte, KPMG, Ernst & Young, Nielsen, American Express, and Shutterstock, among others.

After 14 years of operating in the US, FPT Software has currently 700 staff working across the country, providing services to clients in 30 states and the US's neighboring countries of Canada and Costa Rica.

The US is one of the two biggest markets for FPT Software. In 2021, the company’s revenues expanded by 52% and rose 60% in the first quarter of this year.

Addressing the ceremony, PM Chinh said the new FPT Software office is the second office of a Vietnamese enterprise in New York, after Vietcombank, marking the firm's development and improvement in Vietnam’s IT capacity.

"This move is significant in the fact that Vietnam is on its way to economic recovery, in which IT is the key sector," he said.

Dang Tran Phuong, the CEO of FPT USA Corp, said: “The new office marks our rapid and strong growth in the world’s largest economy. In the next 3 years, we expect this office to contribute 20% of FPT Software’s total revenues in the US market, with the contributions of about 5,000 employees.”

According to FPT Software’s CEO Pham Minh Tuan, the US will become the corporation’s biggest market in the next two years, contributing to increasing FPT Software revenues to billions of dollars by 2023.

"We are working with our partners to develop FPT urban area, and build a campus in Atlanta, Los Angeles, or Dallas for the company’s long-term operations in the country," Tuan said.

Vietnam's PM Pham Minh Chinh at the ceremony.

In 2018, FPT Software’s globalization strategy was realized by buying 90% of the stakes of US-based consulting firm Intellinet Corp, one of the fastest-growing IT consulting firms in the US. The deal has enhanced FPT Software’s digital transformation leadership, aiming to provide more strategic and comprehensive services to leading global companies.

In the past two years, FPT Software has expanded its operations by its presence in Colombia, Costa Rica, India, and the Philippines, among others with 24/7 services to English-speaking customers globally.

So far, FPT Software has more than 700 customers, 100 of which are Fortune Global 500s. It targets to deliver top-notch advantages propelled by business insights and technology innovations.