Deputy PM Trinh Dinh Dung at the first-ever Maekyung Korea-Viet Nam Forum, Ha Noi, December 6, 2017 - Photo: VGP/Xuan Tuyen The Deputy PM made the point at the first-ever Maekyung Korea-Viet Nam Forum held in Ha Noi on December 6 in Ha Noi as part of activities to celebrate the 25th anniversary of Viet Nam-RoK diplomatic ties. Striving for better investment environmentPM Phuc stressed that the world and region are witnessing various changes in politics, economics, and technology. The Industry 4.0 has brought back opportunities and challenges for national development, individuals, and businesses. The Government would perfect institutional tools; provide a transparent legal environment; create equality for businesses and citizens; conduct administrative reform; improve productivity; restructure the economy; control inflation; stabilize the macro-economy; and boost growth. Specifically, Viet Nam would restructure agriculture and … [Read more...] about VN waits for Industry 4.0 investment wage from RoK
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Industry 4.0 to affect retail banking
Mr. Nguyen Toan Thang, Secretary General of the Vietnam Banks Association, told the forum that Vietnamese banks are now moving in line with new technology trends. “They are transitioning from traditional banking to digital banking, transforming their business model, enhancing the customer experience with new products and solutions for business, building modern digital infrastructure, managing data, and applying artificial intelligence,” he said. “Industry 4.0 will create more opportunities for Vietnamese banks to develop retail banking, enhancing the application of innovative business solutions and breakthrough technologies to meet the needs of customers, especially those sensitive to new technology.”Mr. Ha Huy Tuan, Deputy Chairman of the National Financial Supervisory Commission (NFSC), told the forum he acknowledged that many successful models stemming from Industry 4.0, such as Uber, Grab, Traveloka, Alibaba, and Amazon, are posing challenges for banks in … [Read more...] about Industry 4.0 to affect retail banking
Forum talks future of retail banking in Industry 4.0
The information was highlighted at the Retail Banking Forum in Hanoi on December 6. The forum on the future of retail banking and payment services in the Industry 4.0 era was part of a series of workshops and events on smart city building. The report said e-banking is increasingly popular in Vietnam with the rate of e-banking users reaching 81% at present, compared to only 21% in 2015. Financial technology (fintech) solutions are also gaining greater preference due to their convenience and modern security solutions. The trend of cashless payment and digitalisation in personal banking services is also opening up a market for IT firms in Vietnam to provide software products serving the finance-banking sector. Ha Huy Tuan, Vice Chairman of the National Financial Supervisory Commission, said Industry 4.0 with the appearance of an array of breakthrough technologies like Internet of Things, robotic technologies, artificial intelligence, automation, cloud computing, and big data is … [Read more...] about Forum talks future of retail banking in Industry 4.0
PM urges taking advantage of opportunities from Industry 4.0
NDO – The fourth Industrial Revolution (Industry 4.0) is an opportunity to fulfill the aspirations for a prosperous country; therefore, relevant agencies and enterprises should overcome all difficulties to take full advantage of the opportunities from the revolution to develop.The statement was made by Prime Minister Nguyen Xuan Phuc at a seminar under international conference and exhibition on smart industry (Smart Industry World 2017) in Hanoi on December 5.The event was also attended by Politburo members: Nguyen Van Binh, Secretary of Party Central Committee (PCC) and Head of the PCC’s Economic Commission; and Hoang Trung Hai, Secretary of Hanoi municipal Party Committee.Taking place on December 4-5, Smart Industry World 2017 is a large-scale international event on smart technology, consisting of four a series of four seminars and an exhibition on technologies under industry 4.0.Addressing the seminar on ‘shaping and developing smart manufacturing in the future, … [Read more...] about PM urges taking advantage of opportunities from Industry 4.0
Vietnamese businesses ready for Industry 4.0
Developing countries like Vietnam are not yet ready for Industry 4.0 due to lagging technology infrastructure and human resources. Since the beginning of this year, Vietnamese enterprises have done a lot of research to be better prepared for the 4th industrial revolution. "Enterprises are urged to use the latest production technologies. For example, we can advertise and sell our products online and offer customers a wider range of products and services. We’ve also adopted software applications for better business and customer management and try to stay updated on the Industry 4.0 latest trends.", noted Nguyen Van Manh, Director of Quang Huy Minerals Joint Stock Company in Hai Phong city.Vietnamese enterprises need to revise their business models to include digital technologies. According to Le Tuan, Marketing Director of S Vietnam Travel, the three factors that ensure a business’s sustainable development are business knowhow, financing, and human resources. In … [Read more...] about Vietnamese businesses ready for Industry 4.0