The Ministry of Information and Communications (MIC) has directed telecom providers to ensure 100% 5G coverage in Ho Chi Minh City and Da Nang by 2025. The network will deliver speeds 10 times faster than 4G, aiming to match standards of developed nations.

Speaking at a conference, Minister of Information and Communications Nguyen Manh Hung highlighted the importance of digital infrastructure, technology, and cybersecurity as fundamental components of a modern financial center.

Currently, 5G network coverage in Ho Chi Minh City and Da Nang stands at only 20%. The MIC has initiated preparations to address this gap, with telecom companies set to expand 5G coverage to the entire area of both cities within the year.

“With this development, the 5G networks in these cities will reach the level of developed countries,” said Minister Hung.

Minister Hung emphasized the need for robust international connections to major financial hubs such as New York, Tokyo, Hong Kong, and Singapore.

Vietnam currently operates eight international undersea cable systems, and the country’s 2030 strategy aims to expand this to 18, ensuring secure and reliable global data connectivity.

The Minister noted that per capita cloud computing capacity in Ho Chi Minh City and Da Nang is significantly lower than regional counterparts, lagging behind Singapore by 130 times and Thailand by three times.

To bridge this gap, the government is actively attracting investments in this sector, with new investors already on board.

Data center capacity also requires improvement, with the largest facility in these cities currently at 15 MW. Minister Hung proposed establishing large and super-large data centers with capacities ranging from 30 MW to 100 MW, meeting international standards.

“Both cities should prepare land, electricity, and water infrastructure for these data centers, ideally starting this year,” he urged.

Minister Hung stressed the need for advanced cybersecurity measures to protect financial data and transactions, ensuring robust defenses against cyberattacks.

The MIC pledged its support to build modern, high-capacity, intelligent, and sustainable digital infrastructure in Ho Chi Minh City and Da Nang, aligning with their goals to become world-class financial centers.

Ho Van