Vietnam may earn over 3 billion USD thanks to 5G technology

Denis Brunetti, President of Ericsson Vietnam, Myanmar, Cambodia and Laos (Photo: VNA)

Brunetti, who is also Co-chairman of the European Chamber of Commerce in Vietnam (EuroCham), made the statement during a press conference on the acceleration of 5G technology implementation and Internet of Things (IoT) connections recently held in Hanoi.

Ericsson’s 5G Business Potential report forecasts that Vietnam’s telecoms operators may rake in 3.17 billion USD in revenue via 5G technology. Manufacturing, energy and utilities hold the largest potential for 5G technology operators.

Brunetti noted that the number of cellular IoT connections is expected to reach 3.5 billion in 2023 and the fourth industrial revolution has promoted industry digitalisation in Vietnam. However, he stressed that the country needs to speed up the process. 

Security for IoT connections using 4G and 5G technology nationwide will be a significant foundation for smart urban development. Countries that pioneer 5G technology will enhance their competitive edge globally, he added. 

According to Ericsson, 5G technology will be ready for deployment in Vietnam in one or two years. 5G is the next step in the evolution of mobile communications and will be a key component of a networked society.

Previous generations of mobile networks addressed consumers predominantly, while 5G will serve consumers and multiple industries. In healthcare use, 5G will enable precision medicine, remote robotic surgery and ambulance drones.

5G offers massively improved data throughput, low-power networks to support the IoT and much lower delays between sending and receiving signals to enable clever remote-control scenarios.

5G also provides wireless connectivity for a wide range of new applications and use cases, including wearables, smart homes, traffic safety/control, critical infrastructure and industrial processes./.

VNA