The Ministry of Information and Communications hosted the first Vietnam Open Summit, themed “Promoting national digital transformation”, in Hanoi on November 18 in both the face-to-face and video conferencing forms.

Shifting businesses and enterprises into an intelligent and connected virtual space is no longer an option but a necessity to survive, primarily due to the added pressure brought about by the pandemic, a study by Deloitte said.

Industry 4.0 had brought with it a fresh wave of new technology that required new skills to use, and if Vietnamese educational institutions did not keep up with the times, Vietnamese workers were in danger of losing out at home.

With its great potential in IT, Vietnam as ASEAN chair has been making efforts together with other member states in boosting the application of high technologies to adapt to the Fourth Industrial Revolution, which is sweeping regionwide.

A number of high-tech agricultural projects have been proposed in Hanoi, a trend encouraged by the recent Hanoi investment promotion conference.

Humankind has observed three industrial revolutions in the past 260 years. The first recognised James Watt as the typical pioneer, inventing the steam engine in 1760 which helped with performing tasks previously carried out by hand. 

Given the government’s proposed spending cuts for overseas business trips and conferences, Vietnam should quickly adopting online investment promotion.

With a limited state budget, Vietnam should mobilize social resources to support startups and large-scale enterprises, those considered capable of driving the economy forward.

The fourth industrial revolution (Industry 4.0) has a great impact on the human resources of the banking sector, according to the general director of Viet Nam Prosperity Joint Stock Commercial Bank (VPBank).

Le Net and Vu Thi Thinh from LNT & Partners discuss how important public-private partnerships are to the country’s infrastructure development.

Digital transformation is not only a trend but also a must for small- and medium-sized enterprises as Industry 4.0 sweeps across the globe – while at the same time being an ideal solution for improving their competitiveness.

Vietnam is entering a new development decade amid global changes, with disruptive Industry 4.0 technologies widely influencing society and economic development, which requires growing demand in qualified human resources. 

Increasing internet and mobile network coverage has changed the way Tran Van Toan, a stock investor with 15 years’ experience in Hanoi, does business.

The Fourth Industrial Revolution is now bringing immense prospects to Vietnamese enterprises to conduct digital transformation and smart production. 

Human resources is considered a key factor for a country in the process of digital transformation and trying to catch up with Industry 4.0. 

Festo, a German supplier of automation technology and technical education, plans to expand investment in Vietnam to take advantage of the increasing foreign investment and production in the country.

In the context of rapid changes in business methods, the current Law on Investment needs changes in favour of investors. 

Vietnam appears poised to enjoy a leap forward in education thanks to an increasing contribution from the private sector and the use of cutting-edge technologies.

New disruptive technologies associated with Industry 4.0 are changing how companies do business, and so finding a mechanism to adapt these new technologies to modern development needs is imperative.