Given the telecom market's growth trajectory, it is projected that there will be over 90 million 5G connections in Vietnam by 2030, with 5G coverage exceeding 99% of the population.

According to the GSMA's report, tittled "Accelerating 5G in Vietnam," the country is one of Asia’s most dynamic and fast-growing nations with digital transformation already underway in many sectors of its economy.

The report specifically highlights Vietnam's successful planning and deployment of 5G spectrum.

"The successful completion of the 2.6 GHz and 3.5 GHz spectrum auctions in 2024 has more than doubled the amount of available mid-band IMT spectrum, paving the way for a nationwide commercial rollout of 5G," the report said.

Vietnam's impressive economic growth, with high per capita GDP growth, makes 5G deployment crucial for further digital transformation and economic development.

Vietnam began its 5G rollout in 2019, with major providers like Viettel, VNPT, and Mobifone deploying services in various locations. However, the  5G network for commercial service was offcially launched on October 15.

While 5G services were initially available in selected areas of Hanoi, Ho Chi Minh City, and other cities since 2023,  a rapid rollout of the services has been accelerated nationwide this year.

The country has witnessed remarkable mobile market growth, with mobile broadband penetration reaching 120.5% in Q2 2024, up from a mere 11.5% in 2010. Meanwhile, 3G and 4G coverage reached 99.9% by the end of 2023.