FPT Information System Company (FPT IS) beat five international contractors to win a US$33.6 million 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 US$310 million 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.