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FPT hosts talk with Indian IT tycoon Narayana Murthy

The Saigon Times

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HCMC – Narayana Murthy, founder of the Indian multinational IT company Infosys, met with Vietnamese IT professionals and government officials during his four-day visit from May 19 to 23.

The dialogue with the IT community, organized by Vietnam’s IT giant FPT Corporation, took place on May 20 at Hanoi’s Hoa Lac Hi-Tech Park.

The event was led by FPT Chairman Truong Gia Binh and attended by Deputy Minister of Information and Communications Bui Hoang Phuong, along with representatives from Vietnamese IT firms. The discussion focused on business management, corporate culture, and innovation.

Murthy shared his insights and experiences with Vietnamese IT managers, experts, and business leaders. He also met with government officials to discuss collaboration between the IT sectors of Vietnam and India.

Murthy highlighted Vietnam’s growing status as a global technology hub and praised the Vietnamese people for their resilience, hard work, and creativity. He predicted that Vietnam would become one of Asia’s leading economies in the next 20 years, noting the country’s GDP per capita has reached US$4,300 and is expected to grow rapidly.

Binh acknowledged the inspiration FPT drew from Infosys and Murthy’s vision. He recalled FPT’s efforts to learn from India’s success in software development over two decades ago.

Murthy emphasized job creation over profit generation, stating that revenues and profits naturally follow when companies focus on employment. Binh shared that FPT aims to create one million jobs by 2035, reflecting Murthy’s philosophy and contributing to Vietnam’s economic growth.

Regarding FPT’s business performance, the company posted a robust year-on-year revenue rise of 20.6% to nearly VND14.1 trillion in the first quarter. Pre-tax profit soared by 19.5% to over VND2.5 trillion, aligning closely with the company’s projections for the year.

Closing the trading session today, May 21, FPT advanced 2.26% to VND136,000 per share, with a total trading volume of nearly 3.5 million shares.

Vietnamese shares saw little movement on Tuesday. The VN-Index closed down just 0.03%, or 0.44 point, at 1,277.14 points. Decliners outnumbered gainers on the Hochiminh Stock Exchange, with 236 stocks dipping and 207 others advancing.

Trading volume fell to over 972.1 million shares worth nearly VND24 trillion, down more than 16% in volume and 13% in value compared to the previous session. Block deals contributed over 132 million shares valued at VND3.4 trillion.

SHB was the most actively traded stock on the southern exchange, with around 86.9 million shares changing hands, but it stayed at its reference price of VND11,850 per share.

The HNX-Index of the Hanoi Stock Exchange gained 0.72 point, or 0.3%, to 243.29 points, with 83 winners and 100 losers. Trading volume reached over 107.6 million shares worth VND2.1 trillion.

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