22:40 (GMT +7) - Monday 11/12/2017

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Vietnamese startups grappling with Industry 4.0

Released at: 11:17, 30/10/2017

Vietnamese startups grappling with Industry 4.0

Photo: Hai Van

More needed in the application of digital technology, forum hears.

by My Van

The fourth industrial revolution (Industry 4.0) is an opportunity for underdeveloped countries to catch up with developed countries but it seems that Vietnamese enterprises, including startups, are largely out of the game, the “Digital Enterprises 2017: Digital Age and Startup country” forum heard.

Senior expert Henry Nguyen Huu Thai Hoa, Director of the CTS Center, disagreed with many thoughts that Vietnam will lead in Industry 4.0, because of its weak research and development (R&D).

“Vietnamese enterprises talk about mechanisms but don’t know how to apply digital technology at their companies,” he believes.

He also emphasized that if enterprise leaders do not change their thinking and apply new technologies, they will not develop.

Although Vietnamese enterprises have to cope with various challenges, they still have potential opportunities from Industry 4.0. Over the last five years, Vietnam has led in smartphone growth and internet penetration globally.

Industry 4.0 has changed Vietnam’s economy, politics, and society. Dr. Nguyen Van Nam, Director of the Research Institute for Brand and Competition Strategy, expects there will be a number of countries, including Vietnam, that apply digital technology to change their entire socioeconomic landscape.

“The leading force in Vietnam is enterprises and they will have to become digital enterprises, but they must reorganize and the government should have practical policies in support,” he said.

General Director of iBosses Vietnam, Tang Ngoc Truong An, said that Vietnamese enterprises have two challenges in their early days: programs and confidence. “They must respect global rules and information technology,” he said. “Knowledge is important for startups and Vietnamese need to learn how to start a business.”

It can be difficult for enterprises to begin using digital technology based on the experience of developed countries. Although the Vietnamese Government has a decree on digital technology development, success is based on the actions of enterprises.

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