Digital technologies such as machine learning and artificial intelligence (AI) are momentum for the digital transformation. Illustrative image (Photo VNA) Hanoi (VNS/VNA) - TheFourth Industrial Revolution could increase Vietnam’s GDP by between 28.5billion USD and 62 billion USD by 2030, equivalent to a rise of 7-16 percent,according to the Central Institute for Economic Management (CIEM).
Figures released by CIEM at a workshop themed “Digital transformation toaccelerate a sustainable future” showed that GDP per capita is expected torise by between 315 USD and 640 USD by 2030 as a result ofincreased productivity and employment opportunities thanks to Industry4.0.
Speaking at the event on May 15, Pham Hoang Mai, general director of theDepartment of Science, Education, Natural Resources and Environment under theMinistry of Planning and Investment, said the industrial shift would benefitthe country and its people.
“Industry 4.0 offers great opportunities for Vietnam to quickly improvecompetitiveness and growth quality, as well as escape from the danger oflagging behind other nations,” Mai said.
He said that despite limitations in infrastructure and technologicalcapacity, Vietnam has the potential to deploy Industry 4.0technologies effectively. Positive factors include a large population of nearly100 million people, a high rate of mobile phone subscribers (139 subscriptionsper 100 people, far more than in most of the world) and a young labour forcewith good training, especially in the IT sector.
“The Government is working on many projects to move into the Industry 4.0era," he said. "However, the most important thing is to haveinstitutional reform of the domestic business climate to encourageinnovation, especially in sectors with great potential forimplementation such as manufacturing, processing, agriculture, finance,logistics, healthcare and education."
He said the ministry proposed building a national innovation centre in Hoa LacHi-Tech Park. The centre would have five areas of focus to create competitiveadvantages for the Red River Delta region including smart factories, digitalmedia, cyber security, smart cities and the environment.
Johan Alvin, Second Secretary of Trade, Economic and Consular Affairs ofthe Swedish Embassy in Vietnam, said the challenge was to build smartcities and bring people into the innovation centre to participate in buildingIndustry 4.0.
Brian Hull, Country Managing Director of ABB in Vietnam, said that to keepits competitive edge in the global market, Vietnam needs to adoptindustrial digitalisation – advanced manufacturing through robotics andautomation.
“Customers nowadays increasingly demand higher quality products and citizenswant better living environments," Hull said. "Sustainable growthcan only be achieved by adoption of digital technologies and advancedmanufacturing applications. Digitalisation and Industry 4.0 will be growthdrivers to strengthen Vietnam’s position in the region."
The event explored Vietnam’s Industry 4.0 ambitions and includeddiscussion of some of the country’s biggest challenges and opportunitiesfor growth. It attracted nearly 500 delegates including business leaders,industry partners and policymakers. – VNS/VNA
VNA
