Mr. Nguyen Van Khoa, CEO of FPT Corporation, believes that businesses need to tighten their budgets and focus on core issues.

On the recent October 15, Mr. Nguyen Van Khoa, CEO of FPT Corporation, had expressed in the discussion session of Forbes Vietnam Business Forum 2020: “Weathering the turbulence” that, while COVID-19 had caused quite the riffle for FPT, it was also a chance for the firm to catch new trends and change flexible amid the crisis, all to ensure stable business operations and sustainable developments.

Mr. Nguyen Van Khoa, Predisent of FPT Corporation. Photo: Forbes Vietnam.

With its technological advantages and years of experience in collaborating with leading firms as well as diverse digital transformation ecosystems, FPT was quick to gear itself for war and adapt to economical instabilities.

Internally, FPT promotes comprehensive digital transformation with over 30 projects. Among those, 70% had seen exceptional performance. The Corporation also focuses on automation of internal tasks and application of remote working technologies, in order to ensure their employees’ well-being and maximize work efficiency.

To maintain operations, FPT also immediately experimented new approaches based on product applications and 4.0 solutions. This allows for the proactive restructuring of the firm’s business model – from offline to online in all activities like conferencing, meeting, sales, and customer support. Thanks to its actions, FPT had ensured smooth, cost-saving, and efficient business operations and manufacturing.

“Our sharp development strategies had enabled us to successfully weather the turbulence and break through the crisis. In fact, from January to August this year, we have seen 7.6% and 11.7% growths in our revenue and profit respectively, compared to the year before,” Mr. Khoa disclosed.

Amid this most strenuous period, FPT still managed to win numerous large contracts, as well as become a prioritized partner with full deployment rights to a million USD IT project for one of America’s leading automobile companies.

Speaker at Forbes Vietnam Business Forum 2020. Photo: VnExpress.

Mr. Khoa also discussed FPT’s contributions in building new platforms. In particular, the firm had actively encourage collaboration among Vietnamese businesses during this new reality, as well as accelerated digital transformation to support the recovery and development of Vietnam’s economy.

According to Mr. Khoa, COVID-19 is the best opportunity for businesses to review and rectify their operational vulnerabilities, as well as find solutions to problems that had accumulated in the previous period of tremendous growth. He believed that the policies applicable during this “war” will continue to persist and develop even in “peace”, and leaders need to play their roles in: finding opportunities among hardships, promote innovation and creativity using technology, perform in-depth digital transformation, and seek chances in the international market.

“We have managed something big, that is the cooperation of all of our units, our friends, partners, and customers, by means of connection, exchange, and discussion of lessons and experiences. This will be the foundation for breakthroughs in both revenue and profit. And the strong growth of each of these businesses will contribute to the recovery of our nation’s economy,” Mr. Khoa affirmed.

Regarding the FPT’s plan in the short term, Mr. Khoa shared that the firm will maintain its digital transformation strategy, as well as promote the cooperation between Vietnamese business to together share hardships and seek recovery solutions.

On the upcoming October 29, FPT will host the second forum in its series for Vietnam’s top business leaders, under the topic of “Sales among COVID-19”, to discuss market changes in the new period and suggest accurate plans for customer approach, market development – all for business development.

The pandemic has yet to end, and as such, businesses should be well-prepared with a tighten budget, according to the FPT CEO. He also expressed that businesses should actively recover their debts, keep their cash flow going, and make focused investments instead of distributed ones.

The forum also hailed FPT as the only tech firm in Forbes’s Top 50 listed companies of Vietnam – the 8th time the firm that managed such achievement.

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