[BUY] Too good to ignore


- With the 4th Industrial Revolution, global demand and spending for technology have drammatically increased, especially on software development and DX applications, two services that FPT have advantages and currently initiate. In Vietnam, the government has approved the Program for National Digital Transformation by 2025, with Orientations towards 2030. The purpose is to motivate digitalization for both government and major domestic enterprises, leading to digitalized economy at which IT companies like FPT are the backbone. - FPT is rapidly transforming from a traditional outsourcing vendor into a global technology innovator through self-developed B2B platform applying latest technologies such as Artificial Intelligence (AI), Robotic Process Automation (RPA), Blockchain, Cloud, and Internet of Things (IoT). These high-margin products are expected to gain VND 800bn in 2020 and grow by 45% p.a. in 2020-25. - Although the Covid-19 may continue in 2021, FPT almost overcame the hardest period and will likely maintain 2-digit annual growth in next years. Indeed, the number of new signed contracts has rebounded significantly since 3Q20, which will help revenue and profit growth bounce back to high levels from 1Q21. - FPT is among a few global IT companies that have universities training workforce for their technology sector. This allows them to complete the value chain, and then, ensure adequate human resources as well as 20-30% lower labor costs against India's and China's competitors. This has created a strong competitiveness for the company


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