Industry 4.0 benefits will be inclusive, Vietnam PM asserts

He said at the Industry 4.0 Summit 2018 Conference that concluded in Hanoi on Friday that the country needs to train its workforce and develop proper legal frameworks and investment policies to prepare for the Fourth Industrial Revolution.

“Vietnam cannot be excluded from the Fourth Industrial Revolution,” he reaffirmed.

For this, Vietnam needs to “change its preconceptions, take concrete actions, boost technological development and resolve possible side effects of the Fourth Industrial Revolution,” the PM said.

He stressed the need to develop solid IT infrastructure and strengthen startup ecosystems. The PM asked businesses to integrate new technologies into their products, according to the PM.

He said some of the possible side effects of the tech revolution, including changes in the job market and unemployment were matters of concern.

But Vietnam will strive hard to allow all its people enjoy the fruits of the revolution, he added.

“We will not leave anyone behind,” the PM asserted.

The Fourth Industrial Revolution, a fusion of digital, physical and biological technologies, the internet of things and artificial intelligence, is taking place all over the world and having a strong impact on all aspects of socio-economic life, leading to changes in production methods and workforce structures.

Vietnam has its Industry 4.0 tasks cut out, experts have said.

In its Readiness for the Future of Production Report 2018, the World Economic Forum analyzed 100 countries and economies representing over 96 percent of global GDP. It ranked Vietnam 90th in technology and innovation, 92nd in technological platform, 77th in capability for innovation, 70th in human capital, 75th in university quality, 68th in math and science education quality, and 80th in vocational training quality, signaling the country is one of the least prepared for the coming revolution.