New approach needed to stay abreast of Industry 4.0

Vietnam needs to identify an appropriate path towards industrialization and modernization in the context of global development, analysts told the “New theory and approaches on industrialization and modernization until 2030, with a vision to 2045” meeting chaired by the Party Central Committee’s Economic Commission in cooperation with ministries on November 9.

Vietnam’s industrial structure has changed towards industrialization and modernization, but Mr. Nguyen Duc Hien, Deputy Head of the Economic Commission, noted that the country’s process of industrialization and modernization and the economy’s capacity and level of technology remain low. Some Vietnamese enterprises are also outside of movements in Industry 4.0, and industrial enterprises have inadequate access to smart manufacturing.

The goal of becoming a developing country with modern industry by 2025 requires major effort and the participation of all stakeholders. Vietnam needs breakthrough measures in terms of support policies to be able to strongly promote growth in the processing and manufacturing sector, according to Deputy Minister of Industry and Trade Do Thang Hai.
The country needs to identify the context and major trends in industrialization and modernization in order to adopt a new approach. “Vietnam must change its development mindset from depending on external resources to proactively developing internal resources, promoting creativity and mastering technology to serve industry,” Deputy Minister Hai said.

Limitations in terms of financial resources, human resources, and science and technology remain challenging, and he emphasized that it is necessary for Vietnam to identify a path towards industrialization and modernization and choose appropriate policies for further development.