FPT greets the delegation of the Securities Commission Office and large enterprises of Laos

Recently, the delegation of Lao Securities Commission Office and representatives of Lao large enterprises in the fields of fuel, finance, construction, automobile, agriculture… led by Ms. Fongchinda Sengsourivong, General Secretary of Lao Securities Commission Office, has had a working session with FPT Corporation.

The visit is within the framework of the working agenda of the high-level delegation of Lao Securities Commission Office with the Ministry of Finance, the State Bank of Vietnam, the State Securities Commission (SSC), Stock Exchanges, and Vietnamese enterprises which took place from July 24-27, 2023. FPT is the only IT company that the delegation visits and works with for the purpose of experience and knowledge exchange to support Lao enterprises to prepare for Lao stock exchange listing.

The delegation of Lao Securities Commission Office and representatives of Lao enterprises visits and works at FPT Corporation’s headquarters.

As the first IT company listed on the stock exchange in Vietnam, at the working session, FPT has discussed lessons learnt from practical experience as well as values gained from the listing. 

In 2006, FPT was officially listed on the Hochiminh stock exchange (HoSE) with a market capitalization of VND 24,000 billion. After nearly 20 years of listing, FPT’s market capitalization has increased more than 4 times to over VND 100,000 billion. Currently, FPT is the 13th largest enterprise by market capitalization on HoSE and the only IT company in VN30. The company has been voted in Top 50 best listed companies in Vietnam for 11 consecutive years.

At the meeting, Ms. Fongchinda Sengsourivong, General Secretary of Lao Securities Commission Office, thanks FPT for the exchange of experience as well as benefits and values gained from the listing on stock market. “Participating in today’s meeting are major companies who are looking towards Lao stock exchange listing. I am very grateful for the inspirational stories by FPT, which has provided Lao companies a complete and clear picture of the listing process,” said Ms. Fongchinda Sengsourivong.

Ms. Fongchinda Sengsourivong – General Secretary of Lao Securities Commission Office – speaks at the meeting.

Lao stock exchange was established in 2010 and is the only centralized stock exchange in Laos. Currently, there are 11 companies listed on Lao stock exchange with a total market capitalization of about 800 million USD.

Speaking about the values and benefits of the listing, on behalf of FPT, Mr. Nguyen The Phuong – Senior Executive Vice President cum CFO – says, 5 biggest values gained from the listing on the stock exchange includes Company value increase, Attraction of new investment capital, Brand value increase, Governance capacity enhancement, and Employee motivation through stock ownership policies. Responding to Lao companies’ inquiries on how to meet investors’ expectations and create a long-term relationship, Mr. Phuong says, the most important things include clear development orientation and transparent information.

Also at the meeting, FPT has affirmed that technology is one of the important factors to help listed companies connect smoothly with investors, enhance competitive advantages, and move towards sustainable development, and expressed the desire to support Lao companies to accelerate growth through the adoption of advanced technology solutions into management, operation, and business activities.

Within the working session, the delegation of Lao Securities Commission Office also visits FPT’s working area and experiences AI and Cloud technology solutions being deployed for the securities sector.

With 20 years of experience incorporating technologies into the securities sector, FPT has made contributions to building a convenient, transparent, and secure investment environment, enhancing transaction quality for investors in the Vietnamese stock market. In 2021, FPT had successfully solved the order congestion issue at HoSE within just 100 days, increasing the number of transactions to 3-5 million orders per day, allowing the system to operate smoothly, and restoring stability and confidence to the market. FPT had also joined forces to build a Chatbot-based model for the SSC to further support financial institutions and public companies with procedures and processes related to listing and trading.

Recently, the system of registration, depositing, and payment for private placement of corporate bonds (PPCB) at VSD developed by FPT has been successfully launched. This is the foundation to operate the PPCB trading system, thereby strongly promoting transparency and minimizing risks for investors in PPCB transactions. Previously, many core business software systems of VSD had also been built by FPT, such as: Registration, depositing, offsetting, payment system for the stock market of listed companies; Registration, depositing, offsetting, and payment system for the stock market of unlisted public companies; Offsetting and payment system for derivatives.

Besides, FPT has been accompanying securities companies to adopt new technology solutions, especially AI and Cloud, into system operation, customer management, to respond to the rapidly increased number of accounts and liquidity of the market. For example, at SSI Securities Corporation, the most long-standing and prestigious company in the Vietnamese stock market, the FPT.AI solution is being deployed for the opening of online account, the solution is 100% eKYC-based thereby completely eliminating the need for direct meeting. In addition, the “virtual assistants (FPT AI Chat)” are being used in customer service activities for investors. The virtual assistants allow investors to automatically search and update the latest news and information about the stock symbols they are interested in, and give trading alerts when a pre-set alert level is reached. Besides FPT.AI, the auto scaling cloud technology provided by FPT allows SSI to serve a sudden increase of customers as the market fluctuates, avoiding the situation of system overload or “order congestion”.