Three decades since the Law on Foreign Investment was issued in December 1987, FDI has become an important part of the Vietnamese economy, although it has also brought with it problems such as environment pollution, outdated technologies, transfer pricing and below-expectation technology transfer.During the event held by nhadautu.vn, Dang Xuan Quang, deputy director of the Viet Nam Foreign Investment Agency, said the country needs to review the policies of attracting FDI towards ensuring economic, social and environmental sustainability.In particular, industry 4.0 should also be taken into account to attract FDI, Quang said.“It is incorrect to say developing countries cannot approach industry 4.0. We still can participate in the fourth industrial revolution if we follow the right path and find the right niche,” Quang said.Quang said selecting appropriate FDI would help Viet Nam engage deeper in industry 4.0.Nguyen Mai, chairman of the Viet Nam Association of Foreign … [Read more...] about Eye industry 4.0 to attract FDI: Experts
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Industry 4.0 demands coordination: Deputy PM
Deputy Prime Minister Vu Duc Dam (second from left) and delegates at the Viet Nam ICT Summit 2017 in Ha Noi. – VNA/VNS Photo Minh Quyet Deputy Prime Minister Vu Duc Dam called on all society to co-ordinate to create momentum for the so-called fourth industrial revolution, or Industry 4.0, using new digital technologies. The politician was speaking at the Viet Nam ICT Summit 2017 on Wednesday in Ha Noi, with the event themed “Viet Nam: Digital Transformation in the Industry 4.0”. The Deputy Prime Minister also asked the information and communication technology (ICT) industry to build a complete information technology infrastructure. To take advantage of Industry 4.0, Viet Nam needs develop its broadband infrastructure, especially by popularising 4G technology and developing 5G technology, Dam said. Viet Nam needs to step up information technology services outsourcing, while State … [Read more...] about Industry 4.0 demands coordination: Deputy PM
Industry 4.0 brings businesses both opportunities, challenges: seminar
At a booth showcasing IT solutions at the exhibition held on the sidelines of the Viet Nam Information and Communication Technology Outlook in HCM City on September 20. — VNS Photo Industry 4.0 will bring both opportunities and challenges for businesses, and they need to study and choose the most appropriate and efficient technologies, a seminar heard in HCM City on Wednesday. Speaking at Viet Nam Information and Communication Technology Outlook, Tran Anh Tuan, deputy chairman of the HCM City Computer Association (HCA), said the birth of new technologies like artificial intelligence, big data, cloud computing, Internet of Things, bio-technology and nano-technology are affecting many sectors from transportation, healthcare, education and security to the environment, agriculture and housing. Businesses need to make appropriate changes to stay afloat, he said. Ha Nhu Hai, deputy director of CMS Telecom’s … [Read more...] about Industry 4.0 brings businesses both opportunities, challenges: seminar
Workers face daunting Industry 4.0 challenge
With Industry 4.0 likely to replace people on production lines with machines to improve productivity, reduce labour costs as well as administrative cost, workers in all countries face a daunting challenge, economist Le Dang Doanh said on the sidelines of the forum held last week on co-operation between Viet Nam and Japan for Asia-Pacific economic integration.He said many Vietnamese companies had already started investing in automation, dismissing hundreds of workers.About 86 per cent of Viet Nam’s apparel and footwear workers are expected to lose their jobs in the next 15 years, Doanh said.Le Tien Truong, General Director of Vietnam Textile and Garment Group, said the textile and garment industry was using a lot of basic-skills labour, so it would be greatly affected by the Industry 4.0.In the three main stages of the textile and garment industry, including making yarn, dyeing and garment-making, the yarn and dyeing stages are being automated and information technology used to … [Read more...] about Workers face daunting Industry 4.0 challenge
Internet of Things as a tool of creation in Industry 4.0
The Internet of Things is rapidly changing the face of business operations, from manufacturing to sales and logistics. With industrial applications as the main drivers, Asia-Pacific economies are charging ahead to lead this revolution. Tom Nguyen reports. Increasingly, business leaders are seeing the capacity of IoT-related products and services to generate new revenue.The industrial applications of the Internet of Things in the interconnected world of Industry 4.0 are gaining ground across the world.Metering devices and actuators are rapidly installed on various machineries throughout production lines and are becoming increasingly leveraged. Whether it is logistics, manufacturing, or sales, companies are now collecting extensive amounts of data to fine-tune operations.In fact, one of the biggest emerging issues is locating the needle of actually useful data in the haystack of information piled on by endless sensors. Major gainsKelvin Tan, ASEAN Sales leader for SIOT at … [Read more...] about Internet of Things as a tool of creation in Industry 4.0