The latest figures showed that in the first quarter of this year processing and manufacturing industry failed to post a strong growth as it did in the same period last year and signaled downward tendency. Particularly, industrial production index in the first quarter of this year estimated to increase by 9.2 percent over the same period last year, much lower than a growth of 12.7 percent in the first quarter of last year. Of which, processing and manufacturing continued to play the key role in the development of the whole industry with a growth of 11.1 percent whereas it rose 15.7 percent in the first quarter of last year. Processing and manufacturing inventory index was estimated to climb 15.6 percent by March 31 this year, much higher than an increase of 13.5 percent in the same period last year. In fact, shortcomings of processing and manufacturing industry have been identified and analyzed for a long time but until now no effective solution has been drawn out in order to boost … [Read more...] about Processing, manufacturing industry experiences slowdown
Fourth industrial revolution definition
Fourth Industrial Revolution threatening Vietnamese labourers
A large number of experts and members of authorities attended the forum Speaking at the forum titled “Vietnam’s employment, wages, and labour productivity in the context of Industry 4.0” organised by the Ministry of Planning and Investment’s (MPI) National Centre for Socioeconomic Information and Forecast on October 31, 2018, Vu Quang Tho, director of the Vietnam General Confederation’s Institute of Workers and Trade Unions, said that Industry 4.0 will change every field of employment, from banking, commerce, and telecommunication to education, agriculture, and electronics. “Low-skilled jobs will be done by machinery, and even average-skilled employees can be replaced by artificial intelligence,” Tho said, adding that creativity is the key to give Vietnam’s workforce the confidence to approach Industry 4.0. Several major issues, including the position of and demand for untrained labour in Vietnam, forecasts about the impacts of … [Read more...] about Fourth Industrial Revolution threatening Vietnamese labourers
ABB powers Industry 4.0 ambitions
The so-called Fourth Industrial Revolution includes various themes and opportunities, but there is little clarity as to what it actually entails. What would be your general definition for this revolution? Every industrial revolution has driven new economic possibilities and the Fourth Industrial Revolution, or Industry 4.0, is no different, as it brings profound and positive change. It builds on previous revolutions, which began in the 18th century with the invention of the steam engine. The Second Industrial Revolution used electricity to create mass production, and the Third used electronics and information technology to automate production. The main differences between previous revolutions and the Fourth is the pace of change – breakthroughs are happening at a rate unprecedented in history – and the scale of disruption. Today, every industry is being transformed at an accelerating speed. Being digitally enabled, that is having your machines, robots, and systems feeding … [Read more...] about ABB powers Industry 4.0 ambitions
FPT and Intellinet join to deliver digital transformation services
Vietnam’s FPT has made a strategic investment in the US’ Intellinet to expand its digital transformation leadership, aiming to provide more strategic and comprehensive services to leading global companies. FPT, the global leading IT Service Provider headquartered in Vietnam, and Intellinet, a US-based purpose-driven management consulting and technology services firm, yesterday evening reached a definitive agreement for FPT to become a major shareholder of Intellinet, expanding the company’s footprint in the US. Under this agreement, Intellinet will continue to operate as an independent organization. However, the two sides will be able to leverage each other’s strengths. With this new partnership, Intellinet enhances FPT’s offerings with its strategy and management consulting capabilities and becomes part of a company with deep offshore capacity and a focus on digital transformation. FPT, by partnering with the world’s technology disruptors like … [Read more...] about FPT and Intellinet join to deliver digital transformation services
Lawmakers emphasises need for measures to protect denunciators
Deputies join discussions at the 14th National Assembly’s fifth session on May 24 (Source: VNA) Hanoi (VNA) – Lawmakers stressed the need to protect denunciators and their kin on the sidelines of the 14th National Assembly’s fifth session which discussed several contentious points of the draft Law on Denunciation (revised) on May 24. Many deputies noted an outstanding feature of the revised draft law is to contain more specific regulations on the protection of accusers. It has three groups of protection measures: personal information; life, health, assets, honour, dignity, prestige and other personal rights; and working positions and jobs of accusers. Deputy Luu Binh Nhuong from the Mekong Delta province of Ben Tre suggested that the legislature should collect recommendations of people, especially those involved in denunciations, in order to propose forms and scales of protection. The concept of kin subject to protection should be based on the definition as … [Read more...] about Lawmakers emphasises need for measures to protect denunciators