Prime Minister Nguyen Xuan Phuc speaks at the event. (Source: VNA)

Hanoi (VNA) – With the resolve of the whole political system and the will of the people, Vietnam is ready to overcome any challenges ahead, moving forward to grasp opportunities presented by the Fourth Industrial Revolution, said Prime Minister Nguyen Xuan Phuc.

Talking to participants at the Industry 4.0 Summit in Hanoi on July 13, he said Vietnam has been actively researching new global technologies – such as the Internet of Things, big data, and artificial intelligence – in an effort to improve its competitiveness and boost innovation.

However, he admitted, Vietnam is still slow in accessing the core and the latest trends of Industry 4.0.

To truly capitalise on its opportunities and minimise any unwanted impacts of the Industry 4.0, the Vietnamese Government is determined in building focused long-term orientations and concrete policies. The country also needs the support of development partners, businesses, and international experts with the wave of scientific-technological breakthroughs as well as its increasing integration into the world, he noted.

The PM offered some key solutions such as enhancing cooperation with foreign partners in accessing the Industry 4.0; updating on development trends and experiences in the world, especially experiences in dealing with such unwanted impacts as unemployment and social problems; further connecting domestic and overseas Vietnamese sci-tech experts; and promoting relations with other countries, international organisations, and multinational enterprises to select suitable models and experiences for application in Vietnam.

At the summit, PM Phuc thanked those countries and international organisations – including UN agencies, the World Economic Forum, the Organisation for Economic Cooperation and Development, and the World Bank – who have stood side by side with Vietnam in its development process.

Vietnam supports and pledges to create favourable conditions for foreign firms and scientific organisations with sci-tech advantages to take part in research activities and in transferring advanced technologies to Vietnamese businesses, he said.

Meanwhile, Deputy PM Vu Duc Dam said while Industry 4.0 brings about both opportunities and challenges for every country and its people, low-income countries like Vietnam may still be left behind if they fail to swiftly grasp new strides in science and technology.

Some speakers at the summit said Vietnam is currently adequately prepared, compared to other countries, for the Fourth Industrial Revolution. They suggested the country prioritise education and training, especially in technical skills, while issuing policies to encourage information technology application in all spheres.

The Industry 4.0 Summit and Expo 2018 took place in Hanoi under the theme “Vision and Development Strategy in the Fourth Industrial Revolution”.

The event saw Government officials and nearly 1,800 representatives from localities, domestic and foreign experts, businesses, and embassies in attendance.-VNA