Viet Nam News Politburo member and Prime Minister Nguyễn Xuân Phúc penned an article on the 2018 World Economic Forum (WEF) on ASEAN Summit (2018 WEF-ASEAN) which opened in Hà Nội on September 11. The world is changing rapidly, driven by the shifts in globalisation and the tremendous leaps of science, technology and the Fourth Industrial Revolution. Against such backdrops, the ASEAN countries are making every effort to overcome challenges and harness opportunities for development in order to realise the 2025 ASEAN Community Vision, for the establishment of a strong ASEAN Community that shall further uphold its central role in regional mechanisms. As the host country for the 2018 World Economic Forum (WEF) on ASEAN Summit (2018 WEF-ASEAN), it is Việt Nam’s crucial responsibility to work together with WEF and ASEAN members to discuss issues pertinent to their national development in the midst of the Fourth Industrial Revolution. Such … [Read more...] about Joining hands in building the ASEAN Community in the Fourth Industrial Revolution era
Fourth industrial revolution
Keeping pace in the Fourth Industrial Revolution
Viet Nam News Analyst’s Pick By Võ Trí Thành* The Fourth Industrial Revolution has not only had deep impact on all aspects of life but also rapidly changed the way businesses create and distribute products and services as well as the interaction between the market and the State. Võ Trí Thành In a hyper-connected world, advanced technologies like Internet of Things, blockchain and Artificial Intelligence have been transforming the traditional market, thus challenging policymakers to keep up with the pace. In order to ensure the digital economy truly promotes efficiency, innovation and development, it is necessary to develop policies and regulations to adapt to the market. We may agree in principle of regulatory policies and regulations. That ensures the spirit of innovation on the basis of healthy and fair competition, the overall socio-economic benefits, especially those of consumers, and the State’s interests. However, … [Read more...] about Keeping pace in the Fourth Industrial Revolution
Domestic banks adapt to fourth industrial revolution
Amidst the fourth industrial revolution, domestic banks have actively invested in technologies to improve their products, services and governance, Vice Governor of the State Bank of Vietnam (SBV) Nguyen Kim Anh told a seminar in Hanoi on June 15. At the seminar - Source: SBV Anh cited outstanding digital technologies applied by local banks such as cloud computing, big data analysis, artificial intelligence, biometric verification and open API that have also helped customers have better experiences. Theo VNA … [Read more...] about Domestic banks adapt to fourth industrial revolution
Fourth Industrial Revolution and the opportunities for Vietnamese enterprises
(VEN) - The Fourth Industrial Revolution, which combines the cyber and physical world, aims to transform manufacturing as well as other industries, futher driving socioeconomic development in Vietnam. Vietnam Economic New’s Thu Huong had an interview Mr. Denis Bruneti President of Ericsson Vietnam, Myanamar, Cambodia and Laos and Co-Chairman of EuroCham. Mr. Denis Bruneti - President of Ericsson Vietnam, Myanamar, Cambodia and Laos and Co-Chairman of EuroCham As Industry 4.0 is everywhere, big enterprise now are investing in technology innovation towards intelligent production and smart manufacturing, using ICT in manufacturing and production management, what is the role of information security in this context? Firstly, it’s important to understand the relevance of Industry 4.0 (4th Industrial Revolution) in the context of Vietnam’s economy and socioeconomic development journey. Ericsson shares the same view as the Vietnam government in … [Read more...] about Fourth Industrial Revolution and the opportunities for Vietnamese enterprises
Fourth Industrial Revolution and challenges of Vietnamese enterprises
(VEN) - Fourth Industrial Revolution with the development trend based on digital-physical-biological connection system, the breakthrough of the IoT and the artificial intelligence are transforming the manufacturing landscape, impacts strongly on all aspects of socio-economic life. Vietnam Economic News’ Thu Huong had an interview Mr. Denis Bruneti Chairman of Ericsson Vietnam, Myanamar, Cambodia & Laos around the above-mentioned content . Mr. Denis Bruneti - Chairman of Ericsson Vietnam, Myanamar, Cambodia & Laos As Industry 4.0 is everywhere, big enterprise now are investing in technology innovation towards intelligent production and smart manufacturing, using ICT in manufacturing and production management, what is the role of information security in this context? Firstly, it’s important to understand the relevance of Industry 4.0 (4th Industrial Revolution) in the context of Vietnam’s economy and socioeconomic development journey. Ericsson … [Read more...] about Fourth Industrial Revolution and challenges of Vietnamese enterprises
Vietnamese firms should embrace fourth industrial revolution: commerce chamber
Industry 4.0 is nearing and should provide a platform for Vietnamese businesses to increase productivity to meet consumer demands, the Vietnam Chamber of Commerce and Industry (VCCI) said at a conference in Hanoi on Thursday. Themed, Internet of Things – Robotics – Artificial Intelligence, the event was co-organized by the VCCI and Taiwanese tech corporation Solomon with the aim of pointing out what the fourth industrial revolution offers Vietnamese companies. “This new wave of technology will help firms raise production, innovate their products and services, and reduce costs,” said Nguyen Quang Vinh, general secretary of the VCCI. Vinh said the VCCI is planning to start working with local businesses to provide them with consultancy and connect them with foreign firms. The VCCI is trying to increase local awareness of Industry 4.0 so that domestic firms can take advantage of automation and data exchange in manufacturing technologies. The event aimed to provide … [Read more...] about Vietnamese firms should embrace fourth industrial revolution: commerce chamber
Vietnam named among countries least prepared for Fourth Industrial Revolution
As the world enters the Fourth Industrial Revolution, it looks like Vietnam has a lot to do as it faces a challenging road ahead, because according to the World Economic Forum, the country is not well-prepared for the future. As evaluated by the WEF, Vietnam ranks low in terms of education, human resources, innovation and technology, which are all crucial factors for the Fourth Industrial Revolution. In its “Readiness for the Future of Production Report 2018,” the WEF analyzes 100 countries and economies that represent over 96 percent of global Manufacturing Value Added (MVA) and over 96 percent of global Gross Domestic Product (GDP). Its assessment is comprised of 59 indicators across the Drivers of Production and Structure of Production components. On an overall scale of one to 10, Vietnam scores 4.9 in Drivers of Production and 5.0 in Structure of Production, standing behind Singapore, Malaysia, Indonesia and Thailand. The country ranks 90th in technology and … [Read more...] about Vietnam named among countries least prepared for Fourth Industrial Revolution
VINACAS CFO: Fourth Industrial Revolution is inevitable and cashew industry must grow faster
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This is a statement by Mr Le Quang Luyen, Member of the Executive Board and Chief Financial Officer of the Vietnam Cashew Association (VINACAS), in an interview granted to Vietnam Business Forum on its achievements and development orientations. Quoc Hung reports. As a very active VINACAS member who is devoted to the cashew sector development, could you please tell us what the cashew industry has achieved? According to VINACAS reports, I learn that the industry has seen steady development in the past 12 years, featuring rising annual export growth. In 2017, its export value topped US$3.5 billion, meaning this sector had surpassed many other key agricultural products on global markets and stood on par with the fruit and vegetable sector. As far as I know, the Ministry of Agriculture and Rural Development and the Government are considering assigning the cashew industry as the key economic sector of the country. What helped the cashew industry continue to … [Read more...] about VINACAS CFO: Fourth Industrial Revolution is inevitable and cashew industry must grow faster
Forum discusses women’s role in fourth industrial revolution
Illustrative image (Source: tuoitrethudo.com.vn) Hanoi (VNA) – A forum themed “Womenwill – Women in industrial revolution 4.0” took place in Hanoi on January 17, seeking ways to help women across Vietnam expand start-up activities and participate more deeply in the economy. The event also offered a chance for experts and female entrepreneurs to share information and experience to make women more active and confident to deal with challenges of the digital era. Pham Duc Nghiem, deputy head of the National Agency for Technology Entrepreneurship and Commercialisation Development under the Ministry of Science and Technology (MoST), said that women often face more difficulties and barriers in work than men due to their responsibility for their family and social preconceptions. The proportion of women gaining access to technology is also lower than that of men, Nghiem added. He said as the MoST is implementing the National Project to Support Innovative … [Read more...] about Forum discusses women’s role in fourth industrial revolution
Labour Puzzle for Garment and Textile Industry before Fourth Industrial Revolution
According to the Vietnam Garment and Textile Development Plan to 2020, the sector will become “one of leading export-oriented industries capable of meeting increasing domestic consumption demands and creating more jobs for society.” However, with the Fourth Industrial Revolution, garment and textile enterprises have to solve the puzzle of technological innovation and personnel rationalisation. Opportunity from increased productivity Despite being the largest exporter of apparels, textiles and footwear in Southeast Asia and being a top exporter of these products in the world, Vietnam's textile and garment industry still has very low labour productivity relative to other countries. It is less than a quarter of Thailand and even lower than Cambodia. According to economists, the Fourth Industrial Revolution will provide an unprecedented opportunity to improve labour productivity. Powered by automation, robots and big data, the production capacity may increase … [Read more...] about Labour Puzzle for Garment and Textile Industry before Fourth Industrial Revolution