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Symposium talks readiness of Vietnamese firms for Industry 4.0

The readiness of enterprises in Vietnam, and foreign countries in general, for the Fourth Industrial Revolution (Industry 4.0) was debated at a symposium in Hanoi on July 13.

The symposium, themed “Smart Production Development: Vision and Solutions for Sustainable Development,” took place within the framework of the Industry 4.0 Summit and Exhibition on July 12-13.

Delegates at the event also looked into mechanisms and policies which need to be streamlined in order to push ahead with smart and high-tech application in production, and thus improve the productivity and competitiveness of various enterprises and the economy.

Representatives from the world’s leading technological firms shared their experience in implementing Industry 4.0, as well as building, managing, and operating digital and smart factories.

The participants said information and communication technologies, plus other new trends of the Fourth Industrial Revolution, have generated both challenges and opportunities for business administrators.

Cao Duc Phat, permanent deputy head of the Party Central Committee’s Economic Commission, said smart factories with breakthrough technologies will change traditional production methods, creating new products with outstanding quality.

The automation and artificial intelligence technology will mean the cheap unskilled labour force may lose some of its advantages in the industrial sector and require a workforce suitable to the new situation, he said.

Moreover, natural resources have been gradually replaced by new synthetic materials, the official said, noting that major technological progresses in renewable energy production has helped ease the reliance on fossil fuels.

The symposium is expected to help Party think tanks, State management agencies and the research and business circles set forth guidelines and policies to step up technological application and development.