It is because 55 per cent of Vietnam’s 93 million people use the internet. Vietnam has a large young population who can rapidly adapt to new technologies. Besides, the country’s smartphone app usage increases by 21 per cent annually. The rate of smartphone users in Vietnam is very high, at 85 per cent of the population in urban areas and 68 per cent in rural areas. The “ASEAN 4.0: Entrepreneurship in the Fourth Industrial Revolution” conference Vietnam is also striving to become one of the world’s 10 largest nations producing software and providing digital content, with about one million people working in the IT sector. “Vietnam is also making great efforts to achieve more sustainable growth based on improved growth quality and capitalising on Industry 4.0 to increase labour productivity and competitiveness and then rise in the global value chains,” said Bui Thanh Son, Deputy Minister of Foreign Affairs. “Vietnam is determined … [Read more...] about Fourth Industrial Revolution: big opportunities to Vietnam and ASEAN
Industry
Ministry of Industry and Trade praised for achievements in administrative reform
The Prime Minister Nguyen Xuan Phuc has praised the Ministry of Industry and Trade for removing hundreds of requirements and permits for businesses. Ministry of Industry and Trade praised for achievements in administrative reform The Ministry of Industry and Trade is the first state agency that has begun to review and remove unnecessary procedures. It has removed 675 out of 1,200 business requirements. The Ministry of Agriculture and Rural Development is in the second place after cutting or revising 118 requirements. The Ministry of Industry and Trade has submitted the revised draft laws on investment and enterprises in which it proposed to remove unnecessary and unsuitable requirements in 20 businesses. Phan Duc Hieu, deputy director the Ministry of Planning and Investment's Central Institute for Economic Management, said, "I've never seen such positive results from state agencies. I have high regards for the Ministry of Industry and Trade because they acted before being given a … [Read more...] about Ministry of Industry and Trade praised for achievements in administrative reform
Vingroup to become tech-industry-service conglomerate
Viet Nam News HÀ NỘI — Leading real estate and retail conglomerate Vingroup signed agreements with the top 50 universities in Việt Nam on Tuesday as it aims to become an international-standard technology-industry-service business in the future. Vingroup has agreed to provide funding for university science-technology projects and co-operate with them in training and educational programmes to share ideas and lectures. In addition, Vingroup has committed to employing 100,000 technology students within the next 10 years. Vingroup on Tuesday signs partnership agreements with the top 50 technology universities in Việt Nam. — Photo Vingroup The activities are parts of the group’s plan to become an international-standard technology-industry-service conglomerate by 2028 with a focus on technology development and application. To achieve the target, Vingroup plans to improve the quality and efficiency of its service and trading segment. … [Read more...] about Vingroup to become tech-industry-service conglomerate
Industry 4.0 has positive impacts on Vietnam’s banking sector
The Hanoitimes - The Industrial Revolutionary 4.0 has fundamentally changed the business model and managed banks following the digital banking trend. Advances of the Industrial Revolution 4.0 play an important role in the practical application of banking practices from an international perspective and Vietnam’s reality. The State Bank of Vietnam (SBV), the country's central bank, is aware of the importance, potentials and strong impact of science and technology on banking activities, said Deputy Governor of SBV Nguyen Kim Anh at a seminar in Hanoi on August 21. The bank has actively implemented many activities in the sector, aiming to carry out the tasks under the Prime Minister's directive on strengthening the access capacity to the Industrial Revolution 4.0, he added. The seminar on “Development and application of scientific and technological achievements in the banking sector” was held by the SBV in collaboration with the Ministries of Planning and Investment, … [Read more...] about Industry 4.0 has positive impacts on Vietnam’s banking sector
Việt Nam to take advantages of Industry 4.0 for sustainable growth
Viet Nam News He said Indonesia in particular and the ASEAN in general are moving forward with both opportunities and challenges. It was the reason that governments should provide appropriate policies and directions as well as improving education to prepare for this era which needs high quality human resources, he said. He added that the ASEAN community is a unified market that requires co-ordinated co-operation and mutual benefit for all nations. Talking about impacts of the digitalisation evolution on business sector in ASEAN countries, Dennis Brunetti, Eurocham president said it was necessary to have a connection mechanism for everyone. Việt Nam should have a mechanism to support businesses when investing in the country in the field of innovation. Việt Nam should focus on investing in a broad and stable telecommunications system, which has a database to digitise the economy, develop education, transport and connect people. Lê Quốc Hữu, lead … [Read more...] about Việt Nam to take advantages of Industry 4.0 for sustainable growth