The world is experiencing the fourth industrial revolution (industry 4.0), which is described in the National Digital Transformation Plan as a huge technological revolution. The fourth industrial revolution is quite different from the previous ones in terms of space, scale, width and depth as it is based on a digital revolution and involves numerous technologies. This may lead to historically unprecedented changes in socio-economic development models and the socio-political systems of countries as well as in trade, investment, and the economic activities of businesses. According to experts, to win the game “Industry 4.0” countries must conduct a digital transformation. In Vietnam, the entire digital revolution is led by the Government. In other words, the Government is responsible for crafting policies, strategies and orientations for the development of digital transformation and digital economy. Photo: qdnd.vn In fact, the Prime Minister has assigned the … [Read more...] about Part I: Why Vietnam needs to carry out digital transformation
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Vietnam and China set up their diplomatic ties on January 18, 1950. Since then, the two sides have maintained regular high-level visits and meetings, thus helping intensify political trust, effectively solve arising problems and develop the bilateral relations in a stable and sustainable manner. It is noteworthy that in 2015 and 2017, the Party leaders of the two countries made mutual visits within the same year. In 2018, Vietnamese Prime Minister Nguyen Xuan Phuc met Chinese Party General Secretary and President Xi Jinping on the occasion of China's first International Import Expo in Shanghai, and met his Chinese counterpart Li Keqiang twice on the sidelines of the Mekong-Lancang Summit in Cambodia and the 12th Asia-Europe Meeting (ASEM) Summit in Belgium. In April 2019, PM Phuc attended the Belt and Road Forum for International Cooperation in Beijing. NA Chairwoman Nguyen Thi Kim Ngan The relationship between the two legislative bodies has also been strengthened over … [Read more...] about Vietnam wants to further boost legislative cooperation with China
New disruptive technologies associated with Industry 4.0 are changing how companies do business, and so finding a mechanism to adapt these new technologies to modern development needs is imperative. Dr. Tran Thi Quang Hong, head of the Department of Economic-Civil Legislation at the Ministry of Justice’s Institute of Legal Science, outlines how to soon make new technologies a reality in Vietnam by virtue of regulatory sandbox mechanism deployment. A unified concept for regulatory sandboxes will help Vietnam expand its digital economy on a regional level The first challenge involves the capacity to address newly-arising issues rationally. Amid robust technology development, the knowledge gap between technology developers and policymakers is allegedly widening. Policymakers often find it hard to get a good grip of novel technologies, whereas their responsibility is to craft regulations to put such new tech under control. Looking at the development of the passenger … [Read more...] about Improving frameworks in order to reach the Industry 4.0 peak
The average working day for bank worker Pham Hong Nhung in Hanoi normally starts at 7am and ends at around 8pm. Illustrative image -- File photo “My bank opens at 8am but I have to arrive earlier to prepare the cash. When the branch closes, my colleagues and I have to deal with paperwork, so we work up to 12 hours per day.” As well as working five and a half days per week, she sometimes has to attend events on Saturday evening or even on Sunday. “I am exhausted, to be honest. Both my health and looks are going downhill. I can't take proper care of my family as well. My son is only one and is not at nursery school yet, so I have to hire a nanny. My son might be even closer to her than me,” the 28-year-old says. Nhung revealed that bank clerks and other positions at the bank are also busy and overtime is seen as a routine for them. “Sometimes I even have to go to the office on weekends and national holidays,” says 30-year-old Hoang Lan Phuong, … [Read more...] about More overtime, less happiness?