Update news industry 4.0
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.
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.
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.
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.