Foreign media hails rapid growth of Internet of Things in Vietnam

The article notes that IoT in Vietnam is a phenomenon which has been attracting significant attention from both local and international observers. Vietnam, which is renowned for its vibrant culture and rich history, is now making a name for itself as a hub for technological innovation, and the Government has been instrumental in fostering IoT growth.

“Recognizing the potential of IoT to drive economic development and improve quality of life, the government has implemented policies to encourage the adoption of IoT technologies,” the magazine says.

“These include tax incentives for tech companies, investment in infrastructure, and initiatives to promote digital literacy. The government’s proactive approach has created a conducive environment for the growth of IoT,” it adds.

Moreover, Fagenwasanni notes that the country’s young and tech-savvy population has been a key driver of IoT adoption. With over 60% of the population under the age of 35 coupled with high levels of smartphone penetration, Vietnam has a ready market for IoT applications.

The website also stresses that the growth of IoT in the country has been particularly noticeable in areas with smart homes and smart cities.

On a larger scale, Fagenwasanni says that IoT is being used to create smart cities which are more efficient and sustainable. For instance, Ho Chi Minh City is making use of IoT technologies in order to monitor air quality, manage traffic, and to conserve energy.

Furthermore, according to the website, the business sector has also been quick to capitalise on opportunities presented by IoT. Vietnamese companies are making use of IoT to streamline operations, improve productivity, and create fresh business models.

“For example, in the agriculture sector, farmers are using IoT devices to monitor soil conditions, track livestock, and optimize irrigation. This not only increases yield but also reduces waste and conserves resources,” the media adds.

However, it points out that the rapid growth of IoT in the country is not without challenges, with one of the main issues being data security.

Fagenwasanni reveals that with the proliferation of IoT devices, there is an increased risk of data breaches and cyber-attacks. The Vietnamese Government and the private sector are working together in order to address this issue, by investing in cybersecurity measures and promoting best practices for data protection.

Another challenge, according to the website, is the digital divide.

“While urban areas are benefiting from the IoT revolution, rural areas are at risk of being left behind. Bridging this gap is a priority for the Vietnamese government, which is investing in rural broadband infrastructure and promoting digital literacy in rural communities,” it highlights.

In conclusion, it notes that the growth of IoT in the country is a testament to its technological prowess and forward-thinking approach.

“While challenges remain, the potential benefits of IoT for economic development and quality of life are immense. As Vietnam continues to embrace IoT, it is poised to become a leading player in the global digital economy. The world will undoubtedly be watching with keen interest as this exciting story unfolds,” it concludes.