FPT Information System Company beat five international contractors to win a 33.6 million USD contract to provide, implement and maintain the Integrated VAT Administration System for Bangladesh.
FPT IS Chairman Do Cao Bao (third, left) at the signing ceremony (Photo: FPT)
FPT Information System Company (FPT IS) beat five international contractors to win a 33.6 million USD contract to provide, implement and maintain the Integrated VAT Administration System (IVAS) for the Bangladeshi government.
The contract was signed by FPT IS and the National Board of Revenue (NBR) of Bangladesh in Dhaka, Bangladesh on September 16.
This contract accounts for one-tenth of 310 million USD of trade between Vietnam and Bangladesh in the first six months this year.
FPT IS will implement the project IVAS in 12 months and give maintenance service in the five following years. Its technicians will carry out solutions on software, infrastructure and management services for more than 320 local tax agencies under NBR.
Due to limitation in IT application, indirect tax collection of the Bangladeshi government has faced many difficulties, which affected its collection and statistics activities.
IVAS will help the Bangladeshi government lift the country's VAT collection from 4.5 billion USD last year, accounting for 3.7 percent of gross domestic product (GDP) to 8 billion USD, or 4.5 percent of GDP, by 2020.
The winning of IVAS confirmed that Vietnamese technology and information (IT) capacity could meet requirements of big projects in foreign countries, said FPT IS Chairman Do Cao Bao at the signing ceremony.
The victory is not only for FPT IS but also of the country's IT sector in the global market, opening cooperation opportunities between Vietnam and Bangladesh in particular and the Southern Asia in general, even if India, a IT giant, is located in the region.
Md Nojibur Rahman, Chairman of NBR, said that this is an important project for the board, which will help the Bangladeshi government to increase its state revenue.
"We are optimistic that the cooperation between FPT and its consultant units will make the project successful," the chairman said.
FPT IS has also won many contracts in foreign countries including Cambodia, the Philippines, Laos, and Myanmar.-VNA
FPT Corporation (FPT) released its first-half financial report, citing pre-tax profits of 1.35 trillion VND (63.3 million USD), a 10 percent increase over last year's figure.
Giant software company FPT announced on July 10 that it will provide fixed telecoms and internet services in Myanmar, becoming the first 100-per cent foreign-owned firm to operate in telecoms in the country.
The Vietnamese Embassy in Slovakia has pledged to help the FPT Slovakia, a subsidiary of Vietnam’s IT giant FPT, in expanding its operation in the 2015-2020 period.
The central city plans to cooperate with the Da Nang FPT Software company in conducting a Japanese language training programme for information technology (IT) students at colleges throughout the city.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
FPT IS Chairman Do Cao Bao (third, left) at the signing ceremony (Photo: FPT)
