Swedish telecommunication company Ericsson has signed a Memorandum of Understanding (MoU) with the Ministry of Science and Technology in Vietnam on 28 November 2018.
The MoU was signed to establish an Internet of Things (IoT) Innovation Hub, that will be located at Hòa Lạc Hi-Tech Park.
It will foster IoT innovation amongst start-ups, enabling them to develop, test and commercialise IoT applications, according to Vietnam News.
“In the context of globalization and the rapid development of new technologies, 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,” said Mr. Chu Ngoc Anh, Minister of Science, Technology and Environment at the signing ceremony.
The MoU was signed during the dinner “In the Spirit of Nobel”. The dinner paid tribute to Swedish innovation and was also the start of the commemoration of 50 years of diplomatic relations between Sweden and Vietnam, according the Embassy of Sweden in Hanoi.
Ericsson was established in 1876 by Lars Magnus Ericsson. Today it is a multinational networking and telecommunications company headquartered in Stockholm, Sweden. About 40% of the world’s mobile traffic is carried through Ericsson’s networks.