Vietnam reaches golden moment to capitalise on emerging technologies

How do you assess the potential of supporting companies like AWS and the value it brings to end-users?

Vietnam is a country with a strong entrepreneurial spirit, where businesses are continuously learning and exploring new technologies. It is rapidly adopting advanced technologies such as 5G and GenAI. The key driver behind this process is the development of high-quality human resources, with companies heavily investing in training and collaborating with leading technology providers like AWS.

Eric Yeo, country general manager of AWS Vietnam

A prime example is Techcombank, which has partnered with AWS to deploy a large language model not only for its IT department but also for functions like accounting, human resources, and marketing. This model helps employees work more efficiently, optimising the use of GenAI for specific job functions. Similarly, VPBank has embraced new technologies like GenAI, from the board of directors to executive departments.

This success requires not only technology support, but also an effective training system that operates both top-down and bottom-up. With a well-supported environment, businesses can fully leverage the potential of AI to enhance productivity and transform the way they operate, creating significant benefits for both companies and end-users.

How do you foresee the development of AI in Vietnam over the next 5-10 years, and what economic value will the collaboration between AWS and large enterprises bring to both public and private sectors?

The application of GenAI in Vietnam is happening at different stages. Imagine it as a swimming pool: some are just learning to swim in the shallow end; those with more experience move to deeper waters, and seasoned divers venture even further. Similarly, with AI adoption, some companies are observing, some have begun implementation, and others are optimising the technology. The pace and readiness for AI adoption vary greatly across businesses.

Vietnam’s entrepreneurial spirit is a significant driving force behind the rapid uptake of new technologies. Through my work with Vietnamese companies, I’ve noticed a universal thirst for learning, which will shape how GenAI and cloud computing are deployed in the next 5-10 years. According to the Vietnam Data Centre Market 2023-2029 report by Research and Markets, the market is expected to grow at a compound annual growth rate of 13.12 per cent, increasing from $685 million in 2023 to $1.4 billion in 2029.

My recommendation is to assess technology adoption by looking at both the skills and the culture within each business. Comprehensive digitalisation isn’t just about upgrading work skills; collaboration and training at all levels, with strong leadership support, are essential. For example, VIB became the first bank in Vietnam to roll out the AWS Skill Builder programme for all employees, ensuring they have the necessary skills to navigate the digital world.

Vietnam’s strong entrepreneurial spirit and comprehensive training for both employees and leadership are key to improving productivity and efficiency in adopting advanced technologies like GenAI.

What recommendations does AWS have for telecom operators to reinvest or find new revenue streams in 5G investments?

Applying AI and GenAI to 5G infrastructure can significantly improve user experience and optimise performance. GenAI can automate processes and write software code, which helps increase productivity within organisations. This is key for telecom operators looking to maximise the benefits of 5G.

What is more, it is crucial to focus on the end-user, developing applications and use cases that provide real value and meet their needs. Instead of investing billions of US dollars in products that don’t generate revenue, understanding user demands and delivering the right solutions will make a big difference.

From AWS’s perspective, as a cloud computing solutions provider, we are eager to collaborate with telecom operators, offering technology, expertise, and experience. Preparing infrastructure and upskilling the workforce will be critical for telecom firms to maximise returns on their 5G investments. We fully support operators like MobiFone and welcome the regulatory support from the Ministry of Information and Communications.

What is AWS’s vision for the future of the digital market and economy in Vietnam?

Vietnam has an incredibly strong entrepreneurial spirit and a high appetite for innovation. The country is already ranked among the top 10 in cloud computing globally. The most important aspect I want to emphasise is the need to upskill the workforce, ensuring that people are ready to adopt new technologies like 5G and GenAI. Many businesses in Vietnam have prepared well for this and are achieving impressive success.

AWS is committed to working with all partners in the ecosystem to support workforce training and ensure readiness for advanced technology deployment. I believe Vietnam is at a golden moment to capitalise on emerging technologies and become one of the fastest-growing economies in the world. With the advantage of a young workforce and a strong entrepreneurial spirit, combined with a focus on training, I am confident that Vietnam will achieve remarkable success in the future.

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