IoT Innovation Hub Established in Hanoi

On November 28, Ericsson (NASDAQ: ERIC) and the Ministry of Science & Technology (MoST) signed a Memorandum of Understanding to establish an Internet of Things (IoT) Innovation Hub in Hanoi in the first half of 2019.

The strategic innovation partnership agreement was signed by Denis Brunetti, Head of Ericsson Vietnam and Myanmar and Mr Chu Ngoc Anh – Minister of Science and Technology, Vietnam at the Swedish Embassy’s Nobel Gala Dinner in Hanoi. The agreement is symbolic in that it marks 50 years of bilateral ties between Sweden and Vietnam as well as Ericsson’s 25th anniversary in Vietnam.

The MoU demonstrates Ericsson’s long-term commitment as a strategic partner to the Vietnamese government to accelerating and realizing the full potential of the 4th Industrial Revolution for the country. The IoT Innovation Hub will foster IoT innovation amongst start-ups, enabling them to develop and trial IoT applications, and supporting them to commercialize their applications. This initiative significantly contributes to the 2018 innovation activities hosted by MoST in Vietnam.

Speaking at the Signing Ceremony, Mr Chu Ngoc Anh, Minister of Science, Technology and Environment said the Ministry highly appreciated the signing of MoU with Ericsson. “In the context of globalization and the rapid development of new technologies in the Industrial Revolution 4.0, Vietnam needs to quickly develop a national strategy to catch up with the trend. With more than 140 years of experience in technology development and innovation, Ericsson will be one of Vietnam's most trusted partners for this strategy. I firmly believe that this cooperation will be effective and benefit both parties.”

Also, at the signing ceremony, Denis Brunetti, Head of Ericsson Vietnam and Myanmar, and Co-Chairman of the European Chamber of Commerce in Vietnam, stated, “At Ericsson, we support the Vietnamese government’s vision of stimulating an inclusive socio-economic development of Vietnam through the application of science and technology innovation. Ericsson fully supports the government’s ‘National Innovation Network Program’, which recognizes the need for enhancing Vietnam’s innovation capability to meet the challenges and capture the opportunities associated with the 4th Industrial Revolution, enabled by ICT. “

As per the just released Ericsson Mobility Report, November 2018 edition, the number of cellular IoT connections is expected to reach 4.1 billion in 2024 – increasing at an annual growth rate of 27 percent.

States Denis Brunetti, “Ericsson is celebrating its 25th year anniversary in Vietnam by investing in the nation’s future, leveraging ICT as the engine of growth and prosperity, and we are committed to continuing to invest for the next 25 years and beyond.”