The forum consists of three sessions presented by foreign business associations present in Vietnam, including KoCham, AmCham, EuroCham, and the Japan Business Association in Vietnam (JBAV), among others. The theme of the first session is enhancing productivity and factors developing industrial sectors, focusing on the auxiliary industry, technology transfer, and the impacts of Industry 4.0 to foreign invested businesses.The theme of the second session is strengthening private sector investment to improve the country’s financial situation, focusing on the PPP format and means to develop banking.The theme of the third session is improving business climate, facilitating private businesses to achieve breakthroughs.The forum will take place on December 12, 2017 at Lotte Hotel in Hanoi and will be co-chaired by Minister of Planning and Investment Nguyen Chi Dung, IFC senior country manager for Vietnam, Laos, and Cambodia Kyle F. Kelhofer, … [Read more...] about VBF 2017 to reassess Vietnam’s position in Industry 4.0 world
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Industry 4.0 to affect retail banking
Mr. Nguyen Toan Thang, Secretary General of the Vietnam Banks Association, told the forum that Vietnamese banks are now moving in line with new technology trends. “They are transitioning from traditional banking to digital banking, transforming their business model, enhancing the customer experience with new products and solutions for business, building modern digital infrastructure, managing data, and applying artificial intelligence,” he said. “Industry 4.0 will create more opportunities for Vietnamese banks to develop retail banking, enhancing the application of innovative business solutions and breakthrough technologies to meet the needs of customers, especially those sensitive to new technology.”Mr. Ha Huy Tuan, Deputy Chairman of the National Financial Supervisory Commission (NFSC), told the forum he acknowledged that many successful models stemming from Industry 4.0, such as Uber, Grab, Traveloka, Alibaba, and Amazon, are posing challenges for banks in … [Read more...] about Industry 4.0 to affect retail banking
Forum talks future of retail banking in Industry 4.0
The Retail Banking Forum takes place in Hanoi on December 6 - Photo: thanhnien.vn The information was highlighted at the Retail Banking Forum in Hanoi on December 6. The forum on the future of retail banking and payment services in the Industry 4.0 era was part of a series of workshops and events on smart city building. Theo VNA … [Read more...] about Forum talks future of retail banking in Industry 4.0
PM urges taking advantage of opportunities from Industry 4.0
NDO – The fourth Industrial Revolution (Industry 4.0) is an opportunity to fulfill the aspirations for a prosperous country; therefore, relevant agencies and enterprises should overcome all difficulties to take full advantage of the opportunities from the revolution to develop.The statement was made by Prime Minister Nguyen Xuan Phuc at a seminar under international conference and exhibition on smart industry (Smart Industry World 2017) in Hanoi on December 5.The event was also attended by Politburo members: Nguyen Van Binh, Secretary of Party Central Committee (PCC) and Head of the PCC’s Economic Commission; and Hoang Trung Hai, Secretary of Hanoi municipal Party Committee.Taking place on December 4-5, Smart Industry World 2017 is a large-scale international event on smart technology, consisting of four a series of four seminars and an exhibition on technologies under industry 4.0.Addressing the seminar on ‘shaping and developing smart manufacturing in the future, … [Read more...] about PM urges taking advantage of opportunities from Industry 4.0
Vietnamese businesses ready for Industry 4.0
Developing countries like Vietnam are not yet ready for Industry 4.0 due to lagging technology infrastructure and human resources. Since the beginning of this year, Vietnamese enterprises have done a lot of research to be better prepared for the 4th industrial revolution. "Enterprises are urged to use the latest production technologies. For example, we can advertise and sell our products online and offer customers a wider range of products and services. We’ve also adopted software applications for better business and customer management and try to stay updated on the Industry 4.0 latest trends.", noted Nguyen Van Manh, Director of Quang Huy Minerals Joint Stock Company in Hai Phong city.Vietnamese enterprises need to revise their business models to include digital technologies. According to Le Tuan, Marketing Director of S Vietnam Travel, the three factors that ensure a business’s sustainable development are business knowhow, financing, and human resources. In … [Read more...] about Vietnamese businesses ready for Industry 4.0