Vietnam’s Telecom Giants Achieve Impressive Growth in 2024
Vietnam’s major telecom providers—Viettel, MobiFone, and VNPT—reported robust financial performance in 2024, showcasing significant growth despite challenges in the domestic market. Viettel led the sector with an accumulated revenue of VND190 trillion ($7.5 billion), marking a 10.3 percent year-on-year increase and achieving 111 percent of its profit target with VND51 trillion ($2 billion). VNPT followed with VND58.5 trillion ($2.3 billion) in revenue and pre-tax profits of VND6.08 trillion ($24 million), meeting its target and growing seven percent year on year. MobiFone recorded pre-tax profits of VND2.05 trillion ($80.6 million), exceeding its full-year target by 20.6 percent, buoyed by innovations like the “Make in MobiFone” national brand initiative.
The telecom giants also reported improvements in employee income, reflecting their success. Viettel workers at the parent company earned an average monthly income of VND48.14 million ($1,895), a six-percent year-on-year increase, while employees across the group earned VND32.46 million ($1,278). MobiFone, with over 4,000 employees, reported an average monthly income of VND40 million ($1,575). These figures highlight the thriving state of Vietnam’s telecom industry, which continues to navigate and overcome market challenges effectively.
Editor’s Note: In 2024, Vietnam’s top telecom companies—Viettel, VNPT, and MobiFone—reported impressive growth, with Viettel leading with VND190 trillion ($7.5 billion) in revenue and MobiFone exceeding its profit target by 20.6%. Employee earnings also saw a boost, reflecting the industry’s success amid domestic challenges. This highlights the strength and resilience of Vietnam’s telecom sector, signaling potential investment opportunities for foreign companies in a growing and innovative market.
Vietnam Poised to Become Asia’s Next Economic Tiger Through Innovation
A seminar titled “Innovate to Thrive in the New Era,” held in Ho Chi Minh City, highlighted innovation as a cornerstone for Vietnam’s economic growth and its aspiration to become a “new Asian tiger.” Organized by the city’s Department of Industry and Trade, Tuoi Tre newspaper, and the Vietnam Chief Sales & Marketing Officers Club, the event brought together over 300 experts, entrepreneurs, and young innovators. Speakers emphasized that strong brands, sustainable practices, and the integration of technologies like AI, IoT, and Big Data are key to transforming Vietnam into a major economic powerhouse in Asia. The seminar also celebrated the fifth Ho Chi Minh City Brand Awards, which recognized local businesses for their contributions to innovation and sustainability.
Economic expert Sam Korsmoe identified Vietnam’s large, youthful workforce, abundant natural resources, and strategic position amid the China-U.S. trade war as critical advantages for its development. Korsmoe pointed to the success of Taiwan and South Korea as models, urging Vietnam to bolster its industrialization, infrastructure, and policy reforms to avoid the middle-income trap. He underscored the importance of fostering innovation, promoting Vietnamese culture globally, and leveraging the leadership of major cities like Ho Chi Minh City and Hanoi to drive economic growth. If these opportunities are effectively harnessed, Vietnam could surpass its status as an emerging star and become a leading force in Asia’s economy.
Editor’s Note: The seminar “Innovate to Thrive in the New Era” in Ho Chi Minh City emphasized innovation as the key to Vietnam’s goal of becoming a “new Asian tiger.” Experts highlighted the importance of strong brands, sustainable practices, and technologies like AI and Big Data for economic growth, while also celebrating local businesses recognized for their contributions. Economic expert Sam Korsmoe noted Vietnam’s youthful workforce and strategic position as advantages for development, urging further industrialization and policy reforms to avoid the middle-income trap and secure its future as a leading Asian economy.
Qualcomm Strengthens Ties with Vietnam, Driving Innovation and Digital Transformation
Qualcomm Technologies is deepening its collaboration with Vietnam, playing a pivotal role in the country’s digital transformation and technological advancements. Key partnerships with local giants like Viettel and VNPT have led to groundbreaking developments, including Viettel’s launch of the first commercial Open RAN (O-RAN) 5G network using Qualcomm’s 5G RAN platforms and VNPT’s introduction of Vietnam’s first XGS-PON WiFi 7 service powered by Qualcomm’s 10G Fiber Gateway. These initiatives showcase Qualcomm’s commitment to enhancing connectivity, efficiency, and performance in Vietnam’s telecommunications landscape. Qualcomm has also partnered with VinAI to integrate its Snapdragon Cockpit platform for advanced smart mobility solutions, further cementing its role in Vietnam’s technology ecosystem.
Beyond partnerships, Qualcomm is fostering innovation through programs like the Qualcomm Vietnam Innovation Challenge (QVIC), which supports startups developing AI, IoT, robotics, and 5G technologies. The 2024 QVIC finalists received awards totaling $225,000, reflecting Qualcomm’s dedication to nurturing local talent and promoting Vietnam’s tech ecosystem on the global stage. As the nation accelerates its digital economy agenda, Qualcomm plans to expand its support in 2025 with nationwide 5G rollout initiatives, advanced AI solutions, and industrial IoT deployments. With its enduring commitment to innovation, Qualcomm is set to be a cornerstone in Vietnam’s journey to becoming a global tech powerhouse.
https://vir.com.vn/qualcomm-builds-success-with-vietnam-business-partnerships-120659.html
Vietnam’s EV Market Gains Momentum Amid Growing Consumer Demand for Sustainability
Vietnam’s electric vehicle (EV) market is experiencing rapid growth as local consumers increasingly prioritize environmental protection in their purchasing decisions, according to a report by RMIT University Vietnam. Policies such as registration fee exemptions and reduced import taxes, combined with the competitive operational costs of EVs amid rising fuel prices, have boosted their appeal. VinFast, a pioneer in the domestic EV market, recorded over 67,000 units sold this year, with 16,000 sold in November alone—outpacing competitors like Hyundai and Toyota. Experts project the Vietnamese EV market could reach $5-7 billion in value within five years, underscoring its potential to attract both domestic and foreign investors.
VinFast’s success has spurred competition from global automakers such as Hyundai, Toyota, BYD, and BMW, further energizing the market. However, challenges remain, particularly in expanding grid infrastructure and charging station networks. To date, VinFast has installed over 150,000 charging ports nationwide, achieving a ratio of 15 ports per 10,000 people. Dr. Nguyen Son of RMIT University highlighted the need for strategic government intervention and infrastructure upgrades to sustain this momentum. The surge in EV sales reflects a broader trend towards sustainable transportation and positions Vietnam as a promising player in the global EV landscape.
Editor’s Note: Vietnam’s electric vehicle (EV) market is rapidly growing, driven by increasing consumer demand for sustainability, favorable policies, and the success of VinFast, which sold over 67,000 units in 2024. Global automakers are now entering the market, while challenges like infrastructure expansion remain, with VinFast installing over 150,000 charging ports nationwide. This presents significant opportunities for foreign companies to invest in Vietnam’s emerging EV industry and infrastructure development, contributing to a thriving and sustainable transportation sector.
Thailand Advances Smart City Development and AI Leadership
Thailand’s Committee for the Promotion and Development of Digital Economy and Society has approved the establishment of a Subcommittee for Driving Smart City Development, according to Digital Economy and Society Minister Prasert Jantararuangtong. The new body will oversee policies, master plans, and measures to align smart-city initiatives with Thailand’s 20-Year National Strategy. The move aims to ensure continuity in development while promoting efficient application of digital technologies. The subcommittee’s proposals will be reviewed by the main committee for further action, signaling a significant step in the nation’s urban modernization efforts.
The committee also endorsed Thailand’s intent to follow OECD recommendations on artificial intelligence (AI), marking a pivotal opportunity for the country to strengthen its global AI leadership. This commitment will be aligned with Thailand’s National Artificial Intelligence Action Plan, fostering economic growth and enhancing international credibility. Additionally, a draft definition of the digital workforce was approved, pending final endorsement and publication. These initiatives reflect Thailand’s dedication to advancing both smart city development and AI innovation as part of its broader digital economy agenda.
https://www.nationthailand.com/news/policy/40045103
Editor’s Note: Thailand has approved the establishment of a subcommittee to drive smart city development and promote the efficient use of digital technologies, aligned with its 20-Year National Strategy. The country also committed to following OECD recommendations on artificial intelligence (AI), advancing its National AI Action Plan to bolster global leadership in the field. This presents significant opportunities for foreign technology companies to engage in Thailand’s smart city projects and AI initiatives, contributing to the country’s digital transformation while expanding their market presence.
NBTC Summons Oppo and Realme Over Controversial Pre-Installed Loan App
Thailand’s National Broadcasting and Telecommunication Commission (NBTC) has summoned Chinese phone manufacturers Oppo and Realme following user complaints about a pre-installed app, Fineasy, on their devices. The app, reportedly non-removable, can access personal information and send notifications, raising concerns over privacy and data security. While both brands have apologized and promised solutions, including enabling app removal or providing assistance at service centers, the NBTC acknowledged a regulatory gap in checking software on mobile devices. A meeting with relevant agencies and the two manufacturers is scheduled to address the issue and prevent future occurrences.
Digital Economy and Society Minister Prasert Jantararuangtong has directed the Personal Data Protection Committee (PDPC) to investigate potential violations of data protection laws. Acting PDPC secretary-general Wetang Phuangsup confirmed that Oppo and Realme were instructed to review the app and provide explanations at NBTC headquarters. Users concerned about data misuse are encouraged to file complaints through the PDPC website. Meanwhile, the Cyber Crime Investigation Bureau has advised users to disable Fineasy, clear its cache, and revoke its permissions as a precaution.
https://www.nationthailand.com/business/tech/40045113
AI and Big Data Among Key Skills for Future Workforce, Report Reveals
Artificial intelligence (AI) and big data are critical skills for workers navigating rapid changes in the global labor market, according to the “Future of Jobs 2025” report by Chulalongkorn University and the World Economic Forum. The report, based on a survey of 14 million employees across 1,000 companies in 55 countries, predicts that between 2025 and 2030, 170 million new jobs will emerge due to digital and environmental transformations, while 92 million existing roles will be eliminated by economic shifts and automation. Dean of Chulalongkorn Business School, Wilert Puriwat, highlighted increasing demand for roles in AI, cybersecurity, and renewable energy amid challenges like economic volatility, aging populations, and geopolitical tensions.
For Thailand, Wilert outlined strategies to adapt, including upskilling workers for the new economy, integrating automation to enhance efficiency, and adopting technology to boost competitiveness. He emphasized the importance of fostering both intelligence and ethical use of digital skills among the younger workforce to maximize societal and personal benefits. Globally, AI, technological literacy, and creative thinking are expected to take center stage in the evolving job market.
https://www.nationthailand.com/business/economy/40044988
Editor’s Note: The “Future of Jobs 2025” report by Chulalongkorn University and the World Economic Forum highlights AI and big data as essential skills for navigating the evolving labor market, predicting 170 million new jobs and the elimination of 92 million roles by 2030. The report emphasizes growing demand for jobs in AI, cybersecurity, and renewable energy, while urging strategies like upskilling workers and adopting automation to remain competitive. For Thailand, focusing on enhancing digital skills and ethical use of technology will be crucial to adapting to these global changes.
Thailand Approves Blue Tech City to Boost Advanced Industries and Job Creation
The Eastern Economic Corridor (EEC) Policy Committee has approved the establishment of Blue Tech City, a 1,174-rai special economic zone in Chachoengsao’s Bang Pakong district. The project, announced after a meeting chaired by Deputy Prime Minister and Finance Minister Pichai Chunhavajira, aims to attract 156 billion baht in investments. Blue Tech City will focus on advanced industries, including future mobility, smart electronics, aviation, logistics, and the digital sector. Manufacturers of electric vehicles in the zone will be required to use 90% local content, reinforcing the government’s push for localized production.
Blue Tech City is expected to create over 20,000 jobs and stimulate growth in related sectors such as hospitality and retail. In addition, the EEC committee approved the use of 714 rai of Crown Property Bureau land to expand the Eastern Aviation City project, facilitating the construction of a second runway at U-Tapao International Airport to support Thailand’s growing aviation infrastructure.
https://www.nationthailand.com/business/investment/40044975
Editor’s Note: Thailand’s Eastern Economic Corridor (EEC) has approved the creation of Blue Tech City, a special economic zone in Chachoengsao focused on advanced industries like future mobility, smart electronics, and digital sectors, with a 156 billion baht investment target. The project is expected to create over 20,000 jobs and stimulate growth in sectors such as hospitality and retail, alongside expanding aviation infrastructure. This presents opportunities for foreign companies to invest in the zone’s advanced industries, particularly in electric vehicle manufacturing and digital technologies, while benefiting from the government’s push for localized production.
AWS Launches Asia Pacific (Thailand) Region, Pledges $10 Billion GDP Contribution
Amazon Web Services (AWS) has launched its Asia Pacific (Thailand) Region, marking a major milestone in its expansion across Southeast Asia. Announced on January 8, the new cloud infrastructure includes three Availability Zones designed to provide advanced and secure cloud services with low latency. AWS plans to invest over $5 billion in Thailand over the next 15 years, a move expected to contribute $10 billion to the country’s GDP and support 11,000 full-time jobs annually in sectors such as engineering, telecommunications, and construction. Early adopters of the new infrastructure include prominent Thai organizations like the Stock Exchange of Thailand and the Big Data Institute, leveraging AWS for enhanced scalability, low latency, and compliance with regulatory requirements.
The initiative has received strong backing from Thailand’s government, with Prime Minister Paetongtarn Shinawatra praising AWS’s recognition of Thailand’s potential. The investment aligns with AWS’s commitment to sustainability, skills development, and fostering a digital economy. Since 2017, AWS has trained over 50,000 individuals in cloud skills, with partnerships extending to more than 30 Thai universities. Eric Conrad, AWS’s ASEAN Public Sector director, emphasized the expansion’s role in driving innovation across sectors, particularly in education and healthcare. AWS’s global reach now spans 111 Availability Zones across 35 regions, underscoring its leadership in cloud services and support for digital transformation in Thailand and beyond.
https://www.nationthailand.com/business/tech/40044951
Generative AI Revolutionizing Financial Services: Key Trends for 2025
Generative AI (gen AI) is set to transform the financial services sector in 2025, as institutions deploy the technology at scale to address industry challenges, including rising competition, talent shortages, and growing customer expectations. Key trends include AI-powered search tools that enhance productivity by enabling employees to quickly extract insights from vast data stores and AI agents that streamline routine tasks like loan underwriting and claims adjustment while delivering hyper-personalized customer experiences. These innovations allow banks to improve efficiency, boost revenue, and deepen customer engagement.
Additionally, multimodal AI promises to elevate customer service by processing diverse data types like text, images, and audio for more intuitive interactions, while AI-powered fraud detection offers a robust defense against increasingly sophisticated cyber threats. The success of these initiatives will depend on the quality of banks’ data platforms, which aggregate and ensure the accessibility of data for AI applications. As financial institutions embrace gen AI, they position themselves to thrive in a rapidly evolving digital economy.
https://www.nationthailand.com/business/banking-finance/40044885
Editor’s Note: Generative AI is set to revolutionize the financial services sector in 2025, with trends like AI-powered search tools, automation of routine tasks, and hyper-personalized customer experiences enhancing productivity and customer engagement. Multimodal AI will improve customer service by processing various data types, while AI-powered fraud detection strengthens defenses against cyber threats. The success of these innovations will depend on the quality of banks’ data platforms, positioning financial institutions to thrive in the digital economy.
E-Commerce in Thailand: Key Trends for 2025 and Beyond
Thailand’s e-commerce market remains highly competitive, with the rise of “Owned Channels” and increased pressure on e-marketplaces in 2025. As foreign giants dominate the e-marketplace sector, merchants are turning to independent sales channels to avoid reliance on these platforms, which control customer data and charge high fees. The trend towards “3C Commerce” — combining content, community, and commerce — will reshape how businesses engage with consumers. Additionally, platforms like TikTok are set to evolve into comprehensive service hubs, while AI, automation, and affiliate marketing will revolutionize operations and sales processes.
As stricter government crackdowns target substandard goods, Chinese brands are expected to bring high-quality products into Thailand, intensifying competition in the market. E-commerce automation, the rise of “Vertical Commerce” for niche markets, and the imminent introduction of e-commerce taxes will drive further change in the landscape. Businesses are also tapping into e-commerce listening tools to gain insights into market trends and improve their strategies, positioning themselves for success in a rapidly evolving digital economy.
https://www.nationthailand.com/business/trade/40044859
Editor’s Note: Thailand’s e-commerce market is becoming more competitive, with businesses shifting to “Owned Channels” to avoid reliance on e-marketplaces, while the “3C Commerce” trend—combining content, community, and commerce—transforms consumer engagement. Platforms like TikTok are evolving into service hubs, and AI, automation, and affiliate marketing are reshaping operations and sales processes. Increased competition, government crackdowns on substandard goods, and the rise of niche markets and e-commerce taxes are driving further changes, with businesses leveraging new tools to stay ahead.
Thailand’s Digital-Content Industry Gains Momentum in the Global Market
Thailand’s digital-content sector is rapidly growing, driven by increased access to electronic devices and a shift toward digital consumption. As of November 2024, there were 1,071 digital-content businesses in Thailand, with registered capital totaling 4.80 billion baht. The sector includes animators, game producers, and e-book publishers, with e-book publishers leading the market in revenue and profits. Foreign investment has also surged, with key investors from Malaysia, Japan, and Hong Kong contributing significant capital. Notable Thai characters, such as Plaplatootoo and Butterbear, have gained international recognition, offering opportunities for further product development.
Despite the positive outlook, challenges remain, particularly in securing funds for content creators and digital tools. The Department of Business Development (DBD) emphasized the potential for Thai content creators to expand internationally with proper support, and public-private collaborations are underway to promote Thailand’s digital content and strengthen its global presence. As the industry continues to evolve, Thailand aims to become a key player in the digital-content market, capitalizing on the increasing global demand for digital media.
https://www.nationthailand.com/business/economy/40044828
AI to Impact Over 30% of Jobs in Malaysia Over Next Decade, Says Minister
PUTRAJAYA: Artificial intelligence (AI) is expected to affect over 30% of jobs in Malaysia within the next decade, according to Science, Technology, and Innovation Minister Chang Lih Kang. Speaking at the launch of the Malaysia Board of Technologists (MBOT) Professional Development Certification, he highlighted that statistics revealed that more than 600,000 workers must undergo reskilling training within three to five years to remain relevant in the increasingly competitive job market.
Chang said Malaysia’s workforce must be prepared to face these changes as reskilling and upskilling processes become crucial, especially in technology and technical fields, so that Malaysia can remain competitive globally and meet the growing demands of the industry.
In efforts to strengthen the country’s competitiveness, Chang said the Science, Technology, and Innovation Ministry, through MBOT, has been tasked with developing initiatives to bridge the skills gap among workers and upgrade the capabilities of the local talent pool.
For this purpose, MBOT established the Technology and Technical Professional Development Council (TPDC) to develop a comprehensive quality assurance framework and certification for short-term courses in technology and technical fields while addressing the growing industry demand for a highly skilled workforce.
Editor’s Note: As AI continues to evolve, its impact on the workforce is inevitable. Malaysia’s efforts to embrace AI responsibly while preparing its workforce will be critical in ensuring that the country maximizes the benefits of this technology while mitigating potential risks through the establishment of the Technology and Technical Professional Development Council (TPDC).
MSPO 2.0 Reinforces Malaysia’s Leadership in Sustainable Palm Oil Production: MPOC
KUALA LUMPUR: Malaysia’s updated Malaysian Sustainable Palm Oil (MSPO) 2.0 certification standard is strengthening the country’s position as a global leader in sustainable palm oil production. According to the Malaysian Palm Oil Council (MPOC), the enhanced certification emphasizes transparency, traceability, and adherence to environmental, social, and governance (ESG) principles.
The MSPO 2.0 standard includes stricter requirements for deforestation-free practices, labor rights, and biodiversity protection. It also integrates advanced technologies like blockchain for supply chain transparency and remote sensing for monitoring plantation activities.
MPOC CEO Datuk Dr. Kalyana Sundram highlighted that the revised standard is designed to meet global market demands and address environmental concerns. The initiative ensures Malaysia’s palm oil remains competitive and appealing to international buyers, particularly in Europe and North America, where sustainability requirements are stringent.
Editor’s Note: The launch of MSPO 2.0 demonstrates Malaysia’s proactive approach to addressing global sustainability challenges in the palm oil industry. By adopting innovative solutions and stricter regulations, the country reinforces its commitment to sustainable practices and strengthens its reputation in the global market.
GITC Signs MoUs with 25 Associations to Boost TVET Graduate Employability
KUALA LUMPUR: The Global Industrial Training Centre (GITC) has signed Memorandums of Understanding (MoUs) with 25 professional associations to enhance the employability of Technical and Vocational Education and Training (TVET) graduates. The initiative aims to bridge the gap between industry demands and workforce skills by providing targeted training and certification programs.
The partnerships will focus on aligning TVET curriculums with industry requirements, offering internships, and creating job placement opportunities. GITC said the 25 associations involved in the MoU represent a wide array of industries, including arts, entrepreneurship, hospitality, tourism, women entrepreneurship, business services, digital IR4.0, and Environmental, Social, and Governance (ESG).
The MoUs also include plans for skill-upgrading workshops and competency assessments, ensuring that graduates remain competitive in the evolving job market. The program is expected to benefit over 10,000 TVET students annually, equipping them with skills to excel in both local and international industries. Through these partnerships, GITC can offer over 3,000 internships and Work-Based Learning (WBL) placements across the nation for the year 2025.
Editor’s Note: This collaboration underscores the importance of partnerships in strengthening Malaysia’s workforce. By focusing on practical and industry-relevant skills, the GITC initiative enhances TVET’s role in driving economic growth and meeting the demands of a rapidly evolving job market.
Investment Sentiment Among Semiconductor, E&E Companies Moderates: MSIA Survey
PETALING JAYA: Investment sentiment among semiconductor and electrical and electronics (E&E) companies in Malaysia has moderated, according to a recent survey conducted by the Malaysia Semiconductor Industry Association (MSIA). The survey revealed cautious optimism among industry players, citing global economic uncertainties and supply chain challenges as key concerns.
While the semiconductor and E&E sectors remain critical to Malaysia’s economy, companies are adopting a more conservative approach to expansion plans. However, many firms continue to prioritize investments in advanced manufacturing technologies, including automation and artificial intelligence, to maintain competitiveness.
The survey indicated that for the 12 months in 2025, 66% of companies demonstrated optimism regarding the overall outlook, consistent with trends observed in previous quarters. There is uncertainty in the short term, but companies are more optimistic in the medium to long term, the survey showed.
In terms of challenges and opportunities, the MSIA survey showed the semiconductor industry in Q4’24 continued to face talent shortages and market competition as primary hurdles, consistent with previous quarters. Supply chain disruptions and the escalating US-China chip war have also become more pronounced.Touching on exploring US-China semiconductor policies and impacts, the MSIA survey noted that 57% of domestic companies see opportunities for Malaysia if there are continued escalation in the US-China chip war.
Editor’s Note: The tempered investment sentiment reflects a period of adjustment for Malaysia’s semiconductor and E&E sectors. Continued government support and strategic initiatives will be essential to navigate these challenges and sustain long-term growth in these critical industries.
MCMC Studying Implementation of More Authoritative Standardised Address System
KUALA LUMPUR: The Malaysian Communications and Multimedia Commission (MCMC) is exploring the implementation of a standardized and authoritative address system to enhance nationwide logistical and communication efficiency.
The Minister of Communications, Minister Fahmi Fadzil said the National Address System (NAS) would be the single addressing system and the primary reference recognised by the government that manages over 12 million addresses nationwide through close cooperation among various stakeholders.
With the implementation of the NAS system, we will no longer need to rely on traditional methods such as identifying addresses based on roof colours, utility pole numbers, or milestone markers. Efforts to develop NAS is the government’s strategic move to protect the sovereignty of the country’s geospatial data, ensuring that address data is domestically managed, thus reducing reliance on foreign technology said the Minister.
The proposal is part of a broader government push to integrate digital solutions into infrastructure planning and administration. Stakeholders, including postal services, local governments, and private sectors, will be consulted to ensure the system meets diverse needs and is implemented seamlessly.
Editor’s Note: The development of a standardized address system reflects Malaysia’s commitment to leveraging technology for improved infrastructure and service delivery. By addressing logistical challenges, this initiative could significantly benefit businesses and citizens alike, fostering efficiency and innovation across the nation. Addressing this issue is crucial for Malaysia as it will enhance the efficiency of public services, reduce dependency on external technologies, and strengthen the foundation for a robust digital economy. A centralized address system can drive better coordination between agencies, support innovation, and improve the overall quality of governance, positioning Malaysia as a competitive player in the global digital landscape.