Vietnam’s cloud and data center industries are now open to 100% foreign ownership through the implementation of the revised Telecommunications Law.
The new law, which came into force in July 2024, does not restrict foreign investment in providing digital services, allowing businesses to be entirely foreign-owned. The law also permits such services across national borders.
For Vietnam, the new law opens fresh avenues for investment in its data center industry, allowing the country to tap into global expertise and resources. This move is expected to enhance Vietnam’s technological infrastructure, stimulate economic growth, and create new job opportunities within the digital sector.
A forecast by Research and Markets, Vietnam’s data center industry is poised to reach US$1.03 billion by 2028, a huge increase from the US$561 million recorded in 2022. This growth is driven by several factors, including the rapid expansion of internet usage, the proliferation of smartphones, and the increasing adoption of cloud services by businesses.
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