5G OPPORTUNITIES FOR DOMESTIC AND GLOBAL BUSINESSES
Mobile network operators in Vietnam are rapidly deploying 5G infrastructure, poised to unlock new revenue opportunities for themselves and for domestic and international technology firms. This advancement is set to play a pivotal role in accelerating the country’s digital transformation and fostering the development of its digital economy.
ADVANCING 5G NETWORK COMMERCIALIZATION
To commercialize 5G nationwide, in 2019, MIC granted testing licenses to carriers and issued many support policies to promote 5G network and application development. Meanwhile, Vietnamese telecom firms have also constantly invested, researched and implemented many activities to develop and expand 5G network operations.
MOBILE-MONEY SERVICE PILOT EXTENDED TO LATE 2024
Accordingly, the State Bank of Vietnam was assigned to partner with the Ministry of Information and Communications, the Ministry of Public Security, the Ministry of Justice, and relevant agencies to review and report the issuance of legal documents regulating Mobile-Money service before May 2024 to competent authorities.
VIETNAMESE FINTECH STARTUPS SECURE A MERE $6.2 MILLION FUNDING IN 1H/2023
According to a report by Tracxn, a global SaaS-based market intelligence platform, the fintech sector in Vietnam has experienced a significant downturn in funding throughout 2023, largely attributed to the lingering effects of the funding winter and the prevailing global macroeconomic uncertainty.
DA NANG TAKES LEAD IN DIGITAL TRANSFORMATION INDEX IN 2021
The central city of Da Nang topped the Digital Transformation Index (DTI) rankings for 2021, according to the Ministry of Information and Communications.
HCM CITY TARGETS COMPREHENSIVE DIGITISATION
According to the Department of Information and Communications, the city will implement comprehensive technology solutions and exploit shared data for the prevention and control of COVID-19 and hastening economic recovery.
IT REVENUE GROWS 9% IN JAN-OCT
Total revenues of the information technology (IT) industry amounted to VND2.562 quadrillion (US$110.7 billion) in January-October this year, increasing 9% compared with the same period last year.
DECREE FOR FINTECH SANDBOX TO BE SUBMITTED IN Q4
According to the resolution, the Government assigned the State Bank of Việt Nam (SBV) to coordinate with ministries and agencies to form a decree that complies with the provisions of the Law on Promulgation of Legal Documents amended and supplemented in 2020 to submit to the Government in the fourth quarter of 2021.
