Cognex expands investment in Asia Pacific with first local office in Vietnam

The Fourth Industrial Revolution will create great challenges but also opportunities for Viet Nam to take off, a seminar heard in HCM City on Sunday. A worker checking electrolyte parameters at a plant of Viet Tri Chemical Joint Stock Company in the northern province of Phu Tho.  Speaking at the seminar titled “Effects of the Fourth Industrial Revolution on Socio-Economic Development,” Tong Viet Trung, deputy general director of Viettel Group, said: “[It] will usher in smart production where there will be no need for workers to control machines. There will be very high technology integration and value chains with very high connectivity and great flexibility to cope with rapid changes in demand.” "At the core of the Fourth Industrial Revolution is integration of new technologies based on the internet, all environment-friendly, energy-saving, and less or not polluting," he said. "The revolution is just beginning and it will have some initial effects," he said. Emerging economies would renovate extensively and encourage renovation and creativity to catch up with developed nations, he explained. “The development model based on natural resources and low-cost workers will change to one based on technology renovation and creativity.” For instance, the cost of a robot had halved since 1999, he said. A US$20,000 robot could assemble 30,000 Iphones a year, meaning assembling a phone would only cost 66 cents, a very low cost that no worker could match, he said. Traditionally, production lines were located in China and other developing countries with low-cost labour, but now, with…... [read more]

Speaking at the seminar titled “Effects of the Fourth Industrial Revolution on Socio-Economic Development,” Tong Viet Trung, deputy general director of Viettel Group, said: “[It] will usher in smart production where there will be no need for workers to control machines. There will be very high technology integration and value chains with very high connectivity and great flexibility to cope with rapid changes in demand.” "At the core of the Fourth Industrial Revolution is integration of new technologies based on the internet, all environment-friendly, energy-saving, and less or not polluting," he said. "The revolution is just beginning and it will have some initial effects," he said. Emerging economies would renovate extensively and encourage renovation and creativity to catch up with developed nations, he explained. “The development model based on natural resources and low-cost workers will change to one based on technology renovation and creativity.” For instance, the cost of a robot had halved since 1999, he said. A US$20,000 robot could assemble 30,000 Iphones a year, meaning assembling a phone would only cost 66 cents, a very low cost that no worker could match, he said. Traditionally, production lines were located in China and other developing countries with low-cost labour, but now, with smart robot and 3D printing, they would move back to developed nations to be close to customers and quickly meet changing demands, he said. “It means the Revolution might change the mindset of investment and production…... [read more]

A worker checking electrolyte parameters at a plant of Viet Tri Chemical Joint Stock Company in the northern province of Phu Tho. — VNA/VNS Photo Hoang Hung The Fourth Industrial Revolution will create great challenges but also opportunities for Viet Nam to take off, a seminar heard in HCM City on Sunday. Speaking at the seminar titled “Effects of the Fourth Industrial Revolution on Socio-Economic Development,” Tong Viet Trung, deputy general director of Viettel Group, said: “[It] will usher in smart production where there will be no need for workers to control machines. There will be very high technology integration and value chains with very high connectivity and great flexibility to cope with rapid changes in demand.” "At the core of the Fourth Industrial Revolution is integration of new technologies based on the internet, all environment-friendly, energy-saving, and less or not polluting," he said. "The revolution is just beginning and it will have some initial effects," he said. Emerging economies would renovate extensively and encourage renovation and creativity to catch up with developed nations, he explained. “The development model based on natural resources and low-cost workers will change to one based on technology renovation and creativity.” For instance, the cost of a robot had halved since 1999, he said. A US$20,000 robot could assemble 30,000 Iphones a year, meaning assembling a phone would only cost 66 cents, a very low cost that no worker could match, he said. Traditionally,…... [read more]

TPP recession, rising costs, and rampant fabric smuggling are challenging the Vietnamese garment and textile industry, especially when the world is rushing with the Fourth Industrial Revolution. Coping with difficulties Mr Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association, said, automation, robot and big data can increase productivity at an exponential rate, not an arithmetic rate. Opportunities for the garment and textile industry are enhancing labour productivity and competitive prices while challenges are labour redundancy. Mr Le Tien Truong, General Director of the Vietnam National Textile and Garment Group (Vinatex), analysed that if fibre and textile sectors had high speed of automation and advanced technological application from early and used less labour, the garment sector was different. As fashion products have difficult details and changing patterns, it will be much more difficult to automate production. Meanwhile, standard products with many fixed details or little changed details can be robotised. Advanced technological application will raise labour productivity and employ less labour. Thus, the gap of labour costs in a product between developing and developed countries will be narrower. In addition, the Vietnamese garment and textile industry in the Fourth Industrial Revolution stage will face production redirected to the United States, the European Union (EU), Japan and South Korea which have cutting edge technologies and account for nearly 90 per cent of Vietnam’s total garment exports. The garment and textile industry sector also faces hardships in labour costs. In 2016,…... [read more]

Fourth generation (4G) mobile phone services are expected to see a strong development in the country this year, accelerating the completion of national programmes such as e-Government, Smart City and Smart Agriculture, said Pham Hong Hai, deputy minister of Information and Communication (MIC). Fourth generation (4G) mobile phone services are expected to see a strong development in the country this year, accelerating the completion of national programmes such as e-Government, Smart City and Smart Agriculture. Hải told the 4G international conference held in Hanoi on Thursday that domestic telecom providers have installed 43,000 base transceiver stations (BTSs), which are able to provide 4G services to 95 per cent of the country’s population. Vietnam has 6.3 million subscribers using 4G SIM. “The implementation of 4G has been an important turning point for Vietnam’s telecom market,” he said. He added that with the increase of connection speed and data, the traditional internet services would change fast. In addition, a range of new services and applications, such as Internet of Things (IoT) and Smart City, would be developed based on 4G foundation. The ministry granted licences to the country’s four big telecom providers to launch 4G based on LTE and LTE-Adv technologies at the end of 2016. The Vietnam Posts and Telecommunications Group (VNPT) planned to bring nearly 15,000 4G BTSs into operation this year to cover central areas of 63 cities and provinces. The military-run telecom group, Viettel inaugurated 4G services nationwide in April with 36,000 BTSs. MobiFone Telecommunications Corporation built 4,500…... [read more]

The country joined the WEF in 1989, and senior leaders of the country have attended both the Davos meeting and the WEF on East Asia. WEF Managing Director Philipp Roesler visited Vietnam in 2014, 2015 and 2016. Recently, Vietnam has engaged in activities of the WEF on East Asia. In 2012-2014, Prime Minister Nguyen Tan Dung attended the WEF on East Asia in Thailand, Myanmar and the Philippines. The country hosted the WEF on East Asia in 2010 with the participation of about 450 delegates. On October 25, 2016, Vietnam coordinated with the WEF to hold the first WEF on Mekong Region to introduce the Mekong sub-region to world leading companies, on the occasion of the eighth Cambodia-Laos-Myanmar-Vietnam Cooperation Summit and the seventh Ayeyawwady-Chao Phraya-Mekong Economic Cooperation Strategy Summit. Vietnam and the WEF have also shared close ties in agriculture, as the country is one of the key partners of the forum within the framework of the “new vision for agriculture” initiative. The country’s Minister of Industry and Trade has been serving in the coordination committee of the WEF’s project on the future of production system since 2016 and is expected to join the ASEAN Regional Strategy Group in 2017. Currently, 11 Vietnamese major enterprises are members of the WEF, including military-run Viettel Group, FPT, VinGroup, VinaCapital, VNPT and Vietcombank. Prime Minister Nguyen Xuan Phuc’s attendance at the WEF annual meeting in Davos from January 17-21 is a chance to introduce Vietnam’s economic prospects and promote the APEC Year that…... [read more]

There will be five events within the framework of APEC 2017 to connect companies to find trade and investment opportunities, as announced by the Vietnam Chamber of Commerce and Industry at a press conference on January 12. 1. APEC Startups Forum will be held on the sidelines of the Small and Medium Enterprises Ministerial Meeting in September 2017 in Ho Chi Minh City. The purpose is to encourage entrepreneurship in the APEC. The event expects to welcome about 300 leaders of startups from Vietnam and other APEC countries. 2. APEC Business Advisory Council 4 (ABAC 4) will meet from November 4 to 7 in Danang. The meeting will see the participation of 250-300 leaders of companies in the region. ABAC 4 is going to ratify the annual ABAC report and the proposals of ABAC to APEC economic leaders and prepare the content for the dialogue between APEC economic leaders and ABAC. 3. The forum on promoting trade and investment with Vietnam will be held by VCCI on November 8 in Danang, during the APEC Economic Leaders’ Week. The forum will be a chance for international investors to get to know Vietnam and its new policies as well as to meet companies. There will be about 800 participants hailing from Vietnamese government agencies, leaders of localities, and companies from Vietnam and the APEC. The “Vietnam the destination for international investors” expo will be the venue for localities to introduce incentives for investors and projects calling for investment. 4. APEC CEO Summit…... [read more]

PM Phuc made the points on January 6 in Ha Noi while attending a video-teleconference on the performance in 2016 and tasks in 2017 of the industry and trade sector. In spite of numerous difficulties triggered by natural disasters and great headwinds from international markets, 12 preset norms were outstripped and two others were closely fulfilled. Applauding Ministry of Industry and Trade The manufacturing and processing industry became a bright spot in terms of growth with a 11.2% rate in comparison with 10.5% recorded last year. Total retail sale of goods and social service surged sharply by 10.2%. A series of trade promotion activities and the campaign on “Vietnamese use Vietnamese goods” served to alter awareness of domestic customers. The fight against smuggling, trade frauds, counterfeits, and poor-quality products was fundamentally conducted. PM Phuc applauded the Ministry of Industry and Trade for its decision to abolish Decision 6139/QD-BCT on the Planning of rice exporters in line with market signals. Especially, total export turnover jumped 8.6%. Trade surplus valued US$ 2.68 billion, serving to improve trade balance. Viet Nam jumped 14 steps to the 73rd place out of 139 countries and territories in the World Economic Forum’s Global Trade Report in 2016. Nevertheless, the PM also mentioned shortcomings, a sharp decline in mining exploitation (nearly 6%) including 10% of crude oil export; projects running unprofitably; ineffective strategies and planning schemes regarding mechanics, automobiles, and steel; and unfruitful SOEs restructuring process. Generating a fair business environment PM Phuc stressed that the Vietnamese…... [read more]

The Government tasked ministries, agencies, sectors, and enterprises to uphold the theme “Strengthening disciplines, raising responsibilities, nurturing creativity, robust and sustainable growth.” Stabilizing macro-economy and controlling inflation The Resolution looked to stabilize the macro-economy and control inflation. The Government tasked the Ministries of Planning and Investment, Finance, Industry and Trade, Foreign Affairs, and the State Bank of Viet Nam to keep a close watch on domestic and foreign economic, trade, and financial situations for active and timely measures; control inflation; stabilize macro-economy; and boost growth. The SBV was entrusted to work with other ministries, agencies, and localities to regulate the monetary policies in a flexible and active manner; combine with fiscal and other policies to rein in inflation; stabilize macro-economy, and promote growth; timely propose measures to the Government and PM in response to new developments in the domestic and world markets. The SBV is also in charge of managing the foreign currency and gold markets; submitting a project on prevention of dollarization and goldenization (or reversion-to-gold). The Ministry of Finance was asked to conduct close and active fiscal policies in accordance with the monetary policies to stabilize the macro-economy and control inflation; work with other ministries, agencies, and localities to exercise thrift practice; and monitor State budget spending. Raising productivity and competitiveness The Government tasked the Ministry of Planning and Investment to work with the Ministries of Industry and Trade, Science and Technology, relevant ministries, agencies, and localities to compose and perfect supportive policies on SMEs, especially those which…... [read more]

This statement was made by Prime Minister, Nguyen Xuan Phuc at a national online conference held by MoST in Hanoi on January 4 to review its performance in 2016 and set out tasks for 2017. The event was also attended by Deputy PM, Vu Duc Dam and numerous experts and scientists around the country. Addressing the conference, PM Phuc appreciated the great contributions made by the science and technology sector to socio-economic development achievements. However, he pointed out the reasons for the low competitiveness of the Vietnamese economy and the low networking readiness index of the country, including the situation of little research applied in reality. Therefore, it is necessary to give priority to investment in projects with high practical application, he added. The PM emphasised six factors for the development of the science and technology sector: institutions, mechanisms and environment; human resources; resources; infrastructure; integration capacity; and management capacity of the State for science and technology. He noted that the fourth industrial revolution requires Vietnam to constantly innovate and rebuild its administration in order to promote the role of science and technology, particularly human resources and institutions. The Government leader urged the enhancement of international integration on science and technology and the encouragement of investment and application of scientific and technological advances from enterprises as well as the removal of institutional bottlenecks in scientific and technological development. The sector should thoroughly grasp the market need to give appropriate directions for scientific and technological research activities, said PM Phuc. He…... [read more]




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