The Irrawaddy

Vietnamese Firm Wins Planning Ministry Project

A woman goes past the FPT's headquarters in Hanoi December 24, 2012. Maybank Kim Eng Securities raised the target price on FPT Corp , a Vietnamese software producer, by 56 percent to 51,000 dong ($2.45), citing positive growth outlook and cheap valuation. REUTERS/Kham (VIETNAM - Tags: BUSINESS) - RTR3BVML

RANGOON — A Vietnamese firm has won the bid for a project to help upgrade Burma’s public finance system.

FPT group will implement the US$11.3 million World Bank-funded project to install pre-fabricated data center facilities in Naypyidaw and Rangoon for the Ministry of Planning and Finance.

The Vietnamese conglomerate beat 12 rivals from China, India, Singapore, Malaysia, and Burma to win the bid, according to the Vietnamnet Bridge news website.

The Hanoi-based multinational company is one of Vietnam’s leading information technology firms with a presence in 21 countries and more than 28,000 employees, according to its website.

It has already implemented projects in Burma including the national financial switching system for Myanmar Payment Union, the country’s national trade portal, and software systems for the United Paints Group in Burma.

FPT is also the first foreign firm to receive a license to operate in the network facilities service segment in Burma, according to the report.

Burma is second only to Bangladesh as the company’s top developing market, the report added.