Vietnam’s Internet market the most dynamic in the world

May 23, 2016 | 10:07 am GMT+7

Vietnam had the most dynamic Internet market in the world, with more users than no-users, accounting for 52% of the total population, said Rajan Anandan, Vice President and Managing Director of Google in Southeast Asia and India at a talk on FPT Technology Day 2016.


According to Google, in the next five years, Vietnam’s middle class will double. This is the general trend as the world's cash flow is heading towards the East. Last year was the first time Asia had more billionaires than the US. This will be the driving force for Asia to become the world's Internet center.

According to the Google representative, Vietnam is also attracting a lot of investment costs, with the rate of startup companies receiving investment from investment funds in 2015 67%, compared with 28% in 2014, according to data from Topica Founder Institute.
Vietnam also has many characteristics of a future-looking market. According to Rajan, in the next 10 years, 100% of the 2 billion new Internet users will access the Internet via mobile phone or similar devices.
Currently, 78% of Internet users in Vietnam go online daily, 55% of them use smartphones.
In addition, Vietnam has great advantages in terms of connection, Rajan said, adding that Internet rates (both Wi-Fi and 3G) in Vietnam are among the cheapest in the world, and he was also impressed with the Wi-Fi coverage ratio in the country.
"One thing that surprised me in Vietnam is that you can get Wi-Fi almost everywhere. Every shop I visited had free Wi-Fi for customers. That's wonderful," he said.
Vietnamese use the Internet a lot on entertainment purposes. According to Google statistics, in Asia, the Vietnamese people have the longest viewing time per video clip.
60% of Vietnamese users watch videos daily, mostly serving entertainment. But Google also identified that over 50% of users watch videos because they want to learn something new.
Rajan said that this would be the advantage of the generation of future Internet citizens and Vietnam is fully capable of creating miracles from this trend.
"Startups are increasingly less costly than before. When I graduated from college in the 1990s, you might need up to $5 million and a certain team to create a global company. Currently, with the possibility of spread of the Internet, you need just one person, and one computer connected to the Internet," he said.
According to the Google representative, Flappy Bird is one example, "a guy with a few lines of codes and boom, you have a product of global value".
"It is important for future investment. Google had no international stature after only one day. The important things are investment and patience," Rajan said.
Lam Thanh