Forum looks into fourth industrial revolution’s impacts on Vietnam
The Ministry of Industry and Trade held a forum in Hanoi on April 11 to evaluate the impacts of the fourth industrial revolution (4IR) on Vietnam’s socio-economic affairs as well as organizations and businesses.
Hanoi (VNA) – The Ministry of Industryand Trade held a forum in Hanoi on April 11 to evaluate the impacts of thefourth industrial revolution (4IR) on Vietnam’s socio-economic affairs as wellas organizations and businesses.
Deputy Minister Ho Thi Kim Thoa said the 4IR isforecast to change the entire system of production and administration aroundthe globe.
The 4IR is at the starting period, so it isnecessary for Vietnam to promptly grab the opportunity to speed upindustrialisation and modernisation towards the goal of becoming a modernindustrialised country, she added.
However, the country will be under greatpressure if it fails to define clear targets and suitable approach via economicreshuffle, education reform, and science-technology development, she noted.
Head of Vietnam Institute of Economics Tran DinhThien said the 4IR is creating challenges relevant to adjustment costs in theshort and medium run due to its uneven impacts on separate sectors.
The rapid growth of many businesses wouldgenerate new technologies but also eliminate those who cannot catch up with thetrend, he added.
So far Vietnam has geo-economic advantages alongwith an abundant and young workforce, but the 4IR will eliminate thoseadvantages, he said, noting that the country needs a different and feasibleapproach to optimise opportunities from the 4IR.
Apart from improving education-training, humanresources, and infrastructure, Vietnam should stimulate and promote innovationamong businesses, he recommended.
Country Director of the UN Development Programme(UNDP) in Vietnam Louise Chamberlain said the 4IR is one of the most useful andquickest ways to help Vietnamese enterprises increase productivity andcompetitiveness.
The UN in Vietnam is willing to cooperate withthe country to seize opportunities from the 4IR.-VNA
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Illustrative image (Source: VNA) 
