National organization on operating smart economy to be built

The Central Institute for Economic Management (CIEM) cooperated with the  Economic Commission of the Party Central Committee and the United Nations Development Programme in Vietnam (UNDP) to organize a conference yesterday to share experience on identifying strategic factors and building the country’s action plan for Industry 4.0.

The conference to discuss the founding of a national organization on operating a smart economy

The conference to discuss the founding of a national organization on operating a smart economy

In the event, Dr. Dang Quang Vinh from CIEM said that due to historical and economic conditions, Vietnam was unable to enter the previous first and second technological revolutions. However, he insisted that Vietnam is now in a very favorable condition, and if the country can effectively take advantage of this via suitable research and policies, it will no doubt achieve a remarkable breakthrough in technology, performance as well as economic growth.

To gain opportunities from Industry 4.0, it is essential to identify specific 5-year or 10-year aims regarding the number of participating businesses, the quantity of enterprises that can implement technology, the turnover from technological export, the human resources for the field. 

Governmental or private investments are all encouraged to achieve these aims. 

Expert Singmeng from the National University of Singapore presented the research and Information Architecture technology (IA) of his nation, focusing on what and how to do via strategies, action plans, and specific programs in order to optimize all opportunities brought by Industry 4.0. 

He insisted that all societies need a smart and innovative working method to compensate the insufficiency in human resources. It is also necessary to form a national organization on IA to operate a smart economy. 

It is obvious that Vietnam is facing a tough challenge of timely and suitably making good use of all chances from Industry 4.0.

This revolution offers many opportunities to upgrade the knowledge level, production performance, and competitiveness in a global value added chain. It can also help to reduce the time of industrialization thanks to the implementation of high-tech products, commented  Dr. Nguyen Dinh Cung.

By ANH PHUONG – Translated by Yen Nhi

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