Industry 4.0: A double-edged sword of opportunity and risk for Vietnam

Vietnam’s potential New technological solutions heralded by the fourth industrial revolution, such as advanced robotics, autonomous system, internet of things and artificial intelligence are changing production worldwide. Developing countries have proven they are able to catch up with developed nations in the fourth industrial revolution – and even to overtake them. Vietnam has many advantages allowing it to participate in this game. Prime Minister Nguyen Xuan Phuc addressed Vietnam’s potential on December 5 at Smart Industry World 2017, a conference held for the first time in Vietnam to discuss future orientations and methods to attract investment and develop the Vietnamese smart industry. Phuc told participants that with the active participation of the government and business, Vietnam has achieved initial positive results in carrying out the fourth industrial revolution. Ministries, departments and localities have focused on promoting IT application and most public services can be accessed online (88 percent). Vietnam’s 4G networks now cover 95 percent of the nation’s population. Vietnam has 52 million internet users, accounting for 54 percent of the population, ranking fifth in the Asia-Pacific region in terms of internet access. With 55 percent of its people having smartphones, it is projected that by 2020, Vietnam will be among the leading countries in the region in terms of mobile users. This is an important foundation for Vietnam to quickly catch up with new technology trends. The number of new startups in 2017 has nearly doubled over last year, from about 1,800 in 2016 to more than 3,000 in… [Read full story]


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