TOP TAKES is IoT Sources’ filtered content channel, bringing you the most important breaking news and notable events surrounding the Internet of Things. Today’s post originated from: Asiaone.com.
The massive potential of Internet of Things (IoT) is set to help Vietnam pursue its goal of becoming an industrial country by 2020.
According to Irza Suprapto, Director of Asia IoT Business Platform, Vietnam is one of the fastest-growing economies in the world and has been rapidly growing its IT sector to pursue the aim of becoming an industrial country by 2020.
While receiving massive attention now with tech giants like VNPT, FPT and CMC identifying IoT as the “leading trend” of tech, IoT is, in fact, not new to the Vietnamese tech scene. Smart City projects started out as early as 2008, and since then has appeared in at least 5 more cities. In 2013, the Ministry of Science and Technology set up Silicon Valley Startup Ecosystem to stimulate growth and encourage Vietnamese to venture into tech startups.
“Asia IoT Business Platform is an important industry event that serves as a platform in bridging local and international enterprises, organizations, and companies to network, find new partners, expand their market, increase business opportunities, and strengthen international competitiveness,” said Pham Dai Duong, Deputy Minister of Science and Technology, at the 12th edition of Asia IoT Business Platform in Hanoi. The Government pledged to invest USD 111.6 million from the State Budget in the ICT sector by 2020, incentivizing local and international firms to invest in the country.
The rapid technological developments in Vietnam have led to great demands for IoT technologies in the country. A recent survey conducted by Asia IoT Business Platform on local enterprises shows that more than 70 per cent of ASEAN enterprises and organizations are currently in the process of exploring or finding possible IoT solutions to be deployed or implemented. However, only 7 per cent of them reports benefiting from any IoT implementation. These enterprises and organizations cite cost, legacy systems, and complexity as the top three concerns in adopting IoT.
“The fragmentation of IoT in Vietnam, coupled with the lack of standardization present an opportunity for international IoT players to convene and interact with local enterprises to help them truly reap the benefits of IoT. There is no better time to develop the IoT solutions in Vietnam to foster socio-economic development and increase the country’s competitive advantage. This is what we will continue to strive through all our industry events,” said Irza.
The rapid technological developments in Vietnam have led to great demands for IoT technologies in the country. A recent survey conducted by Asia IoT Business Platform on local enterprises shows that more than 70 per cent of ASEAN enterprises and organizations are currently in the process of exploring or finding possible IoT solutions to be deployed or implemented. However, only 7 percent of them reports benefitting from any IoT implementation. These enterprises and organizations cite cost, legacy systems, and complexity as the top three concerns in adopting IoT.
