Vinamilk strikes deal with FPT as Vietnam adopts global financial rules

Communist nation among last to use International Financial Reporting Standards

Two large Vietnamese firms, dairy giant Vinamilk and IT service provider FPT, will cooperate to adopt IFRS accounting rules from 2025. (Source photos by Reuters)

LIEN HOANG, Nikkei staff writer

September 20, 2024 18:02 JST

HO CHI MINH CITY -- Vinamilk and FPT struck a deal to automate the dairy giant's finances as foreign pressure piles on Vietnam, one of the last countries to adopt global accounting rules.

FPT is supplying financial software through its cloud arm, marking further expansion of the communist country's biggest technology firm, whose business ranges from artificial intelligence to internet service.