Vietnam will gather strength in three production and business fields, considering these the pillars of the national economy in the 4.0 industry revolution era.
Vu Dinh Anh, a respected economist, said the biggest concern for Vietnam’s economy is the impact of the 4.0 industry revolution. Vietnam’s abundant and cheap labor force, its biggest advantage over the last many years, will not have much significance in the future, when machines will replace humans in many jobs.
Reports from international organizations all predict that Vietnam is one of the countries to suffer most from the 4.0 revolution because of the low quality of the labor force, with technically trained workers just accounting for 20 percent of the labor force, and productivity lower than many other ASEAN countries.
Meanwhile, The Readiness for the Future of Production Report 2018 WEF affirmed that Vietnam is among the countries still not ready for the 4.0 revolution.
Only 25 countries in Europe, North America and North Asia, which generate three-quarters of the global production value, will benefit from the revolution.
About 70 percent of revenue of the robot market will fall be in China, Japan, South Korea, Germany and the US. Of these, Germany, Japan and the US will be leading in making high-value robots.
Meanwhile, 90 percent of countries in Latin America, Middle East, Africa and Asia, including Vietnam, are listed among the countries with immature development.
Vietnam is in a low position in most rankings. It ranks 90th out of 100 countries in technology & innovation, 92nd in technology platform, 77th in creative capability and 70th in human resources.
In general, Vietnam gets 4.9 out of 10 points in readiness for the 4.0 revolution.
Anh stressed that, Vietnam, with limited financial resources, must choose the right fields to invest in, which will determine its success.
Vietnam needs to make heavy investment in many sectors, from information infrastructure, transport and logistics to science & technology and education.
According to Anh, the three key fields that Vietnam needs to focus on are agriculture tourism and information technology. The development of the three sectors will help boost other business fields.
The goals for the immediate and long term include 1) developing science & technology 2) stepping up administrative reform procedures, with the state becoming the midwife for science & technology inventions 3) setting up a science & technology market, and 4) figuring out development strategies in the 4.0 era.
According to a report on Vietnamnet
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