The dynamic startup scene in Vietnam is key in the nation’s accelerated growth in Cloud Computing, and Data Centers. The Vietnam’s MIC considers cloud computing platform a digital infrastructure for the development of digital government, economy, and society. The market is forecast to be worth US$ 500 million by 2025, he said, adding that this year, the COVID-19 pandemic has pushed its growth by 40%.
Coupled with the central government’s focus on 5G connectivity, and national security concerns leading to data localization laws, the industry stands to undergo massive growth. Within the final months of 2020, all three major mobile carriers in Vietnam announced trials of commercial 5G services, placing Vietnam as one of the first countries in the world to roll out the latest generation of wireless technology, an advance expected to provide a strong boost to the digital economy. The latter’s effect was in some part, stemmed due to Indonesia’ example in enacting and adjusting data sovereignty laws, allowing for a working roadmap in dealing with national security measures.
With 70% of Vietnam’s population of 100 million, aged 35 and below, the industry for cloud computing service delivery models is set to expand significantly. Ho Chi Minh City particularly stands as the populous city in Vietnam, with a concentration of start-ups that makes it an extremely lucrative market for expansion. The status of Ho Chi Minh City as a new entrant ready to challenge the status quo with its reliance on self-sufficiency should be explored for the vast opportunities it offers. Considering the immense reverberations Vietnam sent out to Southeast Asia and beyond with its careful selection of 5G network partners, Cybersecurity as a holistic framework becomes pertinent. Industry leaders and new entrants can expect to be in the forefront of the latest developments in Southeast Asia’s rising giant.