Viet Nam News Gia Lộc HCM CITY— The fourth industrial revolution is giving rise to “smart” factories where robotics, artificial intelligence (AI), cloud computing, and data analytics are used to link production and logistics processes and make manufacturing more intelligent, efficient and sustainable, but their number is limited in Việt Nam. Nguyễn Văn Phi Vân, technical key account director of Tetra Pak Vietnam Joint Stock Company, said: “The fourth industrial revolution brings potential value to resolve challenges which manufacturers of beverages and foods have faced.” The challenges include consumers’ increasing demand for food safety and hygiene and traceability, while manufacturers want to improve productivity and cut costs, he said. Industry 4.0 marked by the Internet of Things, big data, artificial intelligence, and others helps … [Read more...] about Việt Nam makes slow start on ‘smart factories’
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Richard R. C. Shih speaking at Taiwan Excellence 2018 In the 4.0 era, how important are smart technology applications in our day-to-day lives? Are these applications suitable for use in Vietnam? We have various emerging technologies that impact our lives in different ways today. Take smart technology for example, it makes use of artificial intelligence (AI) to enable a level of cognitive awareness. The technology employs machine learning and Big Data analysis to perform functions that have traditionally been done by humans. This boosts the efficiency, productivity, and functionality of almost anything it is applied to, hence creating a smarter and more comfortable life for us. Vietnam is both qualified and motivated to take the lead in the Fourth Industrial Revolution. Smart applications can be applied in various fields in Vietnam, ranging from manufacturing and healthcare to education or home appliances. It also attracts great attention from users in Vietnam. In Vietnam, real … [Read more...] about How does technology make lives faster and easier?
Sebastian Eckardt Soon after the National Assembly passed the Law on Foreign Investment in Việt Nam in 1987, the country started witnessing Foreign Direct Investment inflows which have made considerable contributions to the national economy. To mark the 30th year of Việt Nam’s FDI attraction, Vietnam News Agency talked to Sebastian Eckardt, lead economist at the World Bank Vietnam. Could you please assess the general impacts of FDI on the Vietnamese economy over the last 30 years? Việt Nam has been quite successful in attracting FDI ever since the country opened up to foreign investment, and if we look at the impacts, we can say that FDI has contributed in various ways, including industrialisation, where a lot of investment went into the manufaturing sector, building capacity across a range of sectors, including electronics, but also more traditionalised industries such as garments and shoe factories, and so on. [The FDI flows] are really feeding … [Read more...] about WB economist assesses FDI in Việt Nam
Lead Economist for World Bank in Vietnam Sebastian Eckardt (Photo: VNA) Hanoi (VNA) – Since the Law on Foreign Investment was passed in 1987, Vietnam has been successful in attracting FDI, and the investment inflows have contributed greatly to Vietnam’s economic development, according to the Lead Economist for World Bank in Vietnam Sebastian Eckardt. Question: Please kindly assess the general impacts of FDI inflows towards Vietnamese economy in the last 30 years. Answer: So Vietnam has been quite successful in attracting FDI ever since the country opened up to foreign investment and if we look at the impact, we can say that FDI has really contributed in various ways, including industrialization, where a lot of investment went into manufacturing sector, building capacity across a range of sectors including electronics but also more traditional industries such as garment and shoe factory, and so on, really fueling Vietnam strong export performance and … [Read more...] about FDI – a successful part in Vietnam’s economic development: WB economist
As Vietnam is going cashless, new payment services are popping up across the market to capture users Photo: Duc Thanh The era of digital payments Some 57 per cent of Vietnamese respondents in a survey carried out by Visa Inc. last year were confident to go cashless for three consecutive days. This percentage was the highest among regional nations, with only 42 per cent of Singaporeans and 37 per cent of Thais stating they were ready to go cashless for the same duration of time. Indeed, there is no need to carry cash around, since the digital payments industry in Vietnam has grown stronger than ever, evidenced by the arrival of foreign mobile payments services like Samsung Pay last September or Apple Pay and other mobile payment platforms that are about to debut here in the upcoming months. According to EY’s ASEAN Fintech Census 2018, in the Asia-Pacific region, social media platforms, e-commerce players, and on-demand service providers–like ride-hailing Grab with … [Read more...] about A cashless economy on the horizon