Justin Wood, Head of Regional Agenda - Asia Pacific and member of the Executive Committee of the World Economic Forum. Photo: WEF He made the remarks in a recent interview granted to Viet Nam News Agency correspondents in Geneva, Switzerland, on the threshold of the World Economic Forum on ASEAN (WEF ASEAN) scheduled to take place in Hanoi from September 11 to 13. Seeking new competitive advantages in the era of modern technology is a major policy issue for Viet Nam and ASEAN at large as cheap labour is no longer a feasible strategy, he said. Mentioning the WEF ASEAN 2018, Wood said the WEF had signed with the Government of Viet Nam an agreement on the organization of WEF ASEAN since January 2017. Such an important event needs a great deal of time for preparation, he said, adding that one important work was to decide its theme “ASEAN 4.0: Entrepreneurship in the fourth industrial revolution”. This year’s WEF will feature 53 sessions, he said, adding that more than … [Read more...] about WEF ASEAN: VN needs to seek new competitive edge in Industry 4.0
Industry 4 0
Japan becomes VN’s major partner in Industry 4.0
Japan ICT Day, regularly held since 2007, is the most important event to boost the business cooperation among Vietnamese and Japanese information technology (IT) companies. It is jointly organized by the Vietnam Software Association (VINASA) and the Vietnam – Japan IT Cooperation Club (VJC). The festival this year is one of the activities to celebrate the 45th anniversary of diplomatic relations between Vietnam and Japan. Deputy Minister of Information and Communications Nguyen Minh Hong stated in the event that there has been impressive and comprehensive development in the collaboration between the two nations to increase prosperity. Until now, Japan has become a leading economic and investment partner of Vietnam. In 2017, it was the country with the largest amount of foreign direct investment into Vietnam, pouring over $9 billion and accounting for more than 25 percent of the total foreign investment capital into the country. The collaboration between Vietnam and Japan … [Read more...] about Japan becomes VN’s major partner in Industry 4.0
IT key to Vietnam’s Industry 4.0 future
Vietnam can learn good lessons from other countries, which are successfully boosting a digital economy, Photo: Le Toan The main hall of the InterContinental Hanoi Westlake was packed with several hundreds of people last Tuesday, who arrived as representatives of international organisations, embassies, and the media, as well as experts, to attend the “ASEAN 4.0: Entrepreneurship in the Fourth Industrial Revolution” conference held by the Ministry of Foreign Affairs. The event was focused on how Vietnam can develop its digital economy in the context of Industry 4.0, stressing the need for Vietnam and other ASEAN nations to take advantage of their IT potential to capitalise on opportunities offered by Industry 4.0. This conference was also the first in a series of events to be held ahead of the hallmark conference “ASEAN 4.0: Entrepreneurship and the Fourth Industrial Revolution” in Hanoi during September 11-13, 2018. Lessons from Indonesia At the conference … [Read more...] about IT key to Vietnam’s Industry 4.0 future
Vietnamese expats bring Industry 4.0 talent home
Vietnamese expats bring Industry 4.0 talent home In order for them to contribute to Vietnam’s development and help it meet the challenges of Industry 4.0, the Vietnamese government has called on 100 young, talented Vietnamese people working overseas in the science and technology fields to come home and apply their skills and experience in the homeland. Tran Thi Nhu Hoa, deputy head of the Vietnamese Student Association in South Korea and one of the 100 people selected in the Vietnam Innovation Network Programme led by the Ministry of Planning and Investment, used just one word, “love”, to describe the feeling that overcame her as she was given this opportunity. Hoa proudly told VIR, “I am sure that I will return home to work for a university in Ho Chi Minh City. I will bring South Korea’s highest technology and transfer it to Vietnam.” The programme aims to gather and mobilise the best human resources from overseas Vietnamese experts and connect … [Read more...] about Vietnamese expats bring Industry 4.0 talent home
In Industry 4.0 era, low labor costs don’t count
(VEN) - Most Vietnamese businesses remain at the starting point of preparations for Industry 4.0. To get ready for this revolution, the state and businesses need to take suitable measures and pay special attention to improving the quality of human resources. Massive job loss Vietnam has been dependent for a long time on foreign direct investment (FDI). Low labor costs, labor and resource-intensive industries, and preferences in terms of tax and land rent have attracted foreign investors to Vietnam. However, FDI flows tend to move to markets where Industry 4.0 technologies can be utilized. Therefore, low labor costs will no longer be an advantage and may even be a challenge. According to Dr. Le Dang Doanh, former Director of the Central Institute for Economic Management, 86 percent of the workforce in the Vietnamese textile, garment, leather and footwear sectors is forecast to lose their jobs in the next 15 years. In the context of increasingly great importance attached to jobs … [Read more...] about In Industry 4.0 era, low labor costs don’t count