Vietnam is expected to face both opportunities and challenges brought about by the fourth industrial revolution Industry 4 0 Vietnam small and medium sized enterprises are doing their best to keep up with latest technologies and global development trends
Developing countries like Vietnam are not yet ready for Industry 4.0 due to lagging technology infrastructure and human resources. Since the beginning of this year, Vietnamese enterprises have done a lot of research to be better prepared for the 4th industrial revolution.
"Enterprises are urged to use the latest production technologies. For example, we can advertise and sell our products online and offer customers a wider range of products and services. We’ve also adopted software applications for better business and customer management and try to stay updated on the Industry 4.0 latest trends.", noted Nguyen Van Manh, Director of Quang Huy Minerals Joint Stock Company in Hai Phong city.
Vietnamese enterprises need to revise their business models to include digital technologies.
According to Le Tuan, Marketing Director of S Vietnam Travel, the three factors that ensure a business’s sustainable development are business knowhow, financing, and human resources. In addition to investment in science and technological development, enterprises should invest more in human resource development.
"To some extent, technologies will help humans achieve better work results with more precise information and data. However, workers must improve their qualifications in order to control modern technologies. To survive and develop in the fourth industrial revolution, Vietnamese enterprises should pay more attention to training activities to help their staff make full use of technologies.", added Tuan.