The Fourth Industrial Revolution has erupted globally and fiercely impacted Vietnam’s economy. Enterprises can benefit from this movement if they get in, however if they are out of touch with technology advances, they may have to downsize their business or risk being eliminated from the market. 

 

Bac Ninh is one of the fast growing provinces with many indicators topping national rankings. Local enterprises and the business community have contributed a significant role in making these records.

The country has integrated well globally, with Industry 4.0 impacting several areas such as high-technology, smart devices, and robotics and artificial intelligence, among others. The trending movement has created not small challenges for businesses and enterprises trying to ride the wave.

Industry 4.0 has brought Vietnamese enterprises onto the global playground with a new consciousness. It has brought about changes in business models, business culture, investment in information technology, high-quality human resources, e-government, among others.

Thank to the Internet and e-commerce, small- and micro-sized businesses can gain access to the world market just as easily as big brands. In Industry 4.0, a business’ scale will not be a core advantage. Therefore, Vietnamese businesses and enterprises must learn about the movement to adapt and grab development opportunities. –VNA