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Minister of Information and Communications Nguyen Manh Hung speaks at the conference. Photo: TT

According to Minister Nguyen Manh Hung, digital infrastructure, digital technology , digital industry and digital security and safety are the most important foundations of a modern financial center.

Accordingly, for an international-class financial center, the digital infrastructure must be among the top 30 in the world , but currently the 5G network in Ho Chi Minh City and Da Nang only reaches 20%.

The Minister of Information and Communications said that the Ministry has taken steps to prepare to meet the above requirements.

Specifically, this year, telecommunications companies will cover 100% of these two cities with 5G, with speeds 10 times faster than 4G. At that time, the 5G networks of these two localities will reach the level of developed countries.

Regarding connectivity with international financial centers such as New York (USA), Tokyo (Japan), Hong Kong (China), Singapore... The Minister said that Vietnam must have a large-capacity and sustainable fiber optic cable system.

According to the Minister, Vietnam currently has 8 international fiber optic cable lines, and Vietnam's international fiber optic cable strategy by 2030 will have 18 lines, which will then meet the need for safe international data connections.

Regarding cloud computing, Ho Chi Minh City and Da Nang have quite low cloud computing processing capacity per capita, 130 times lower than Singapore and 3 times lower than Thailand.

To improve this situation, the Minister said that in the coming time, the Government is actively calling for investment and recently there have been investors.

In terms of data infrastructure, Ho Chi Minh City and Da Nang only have the largest data center of 15MW.

“As an international and regional financial center, there must be large and super large data centers from 30-100 MW that meet international standards. Currently, there have been investment commitments, Ho Chi Minh City and Da Nang need to prepare land, electricity, water... for large and super large data centers, preferably this year,” Minister Nguyen Manh Hung proposed.

Regarding network safety and security, the Minister said that financial centers must build advanced security solutions to prevent cyber attacks and ensure the safety of financial and transaction data.

Finally, the Minister of Information and Communications pledged that the Ministry will support the two cities in building modern, super-large capacity, super-wide bandwidth, smart - green and sustainable digital infrastructure to achieve the goal of building a financial center of international and regional standards.