Vietnamese expats bring Industry 4.0 talent home In order for them to contribute to Vietnam’s development and help it meet the challenges of Industry 4.0, the Vietnamese government has called on 100 young, talented Vietnamese people working overseas in the science and technology fields to come home and apply their skills and experience in the homeland. Tran Thi Nhu Hoa, deputy head of the Vietnamese Student Association in South Korea and one of the 100 people selected in the Vietnam Innovation Network Programme led by the Ministry of Planning and Investment, used just one word, “love”, to describe the feeling that overcame her as she was given this opportunity. Hoa proudly told VIR, “I am sure that I will return home to work for a university in Ho Chi Minh City. I will bring South Korea’s highest technology and transfer it to Vietnam.” The programme aims to gather and mobilise the best human resources from overseas Vietnamese experts and connect … [Read more...] about Vietnamese expats bring Industry 4.0 talent home
Which industry most spurred economic growth
U.S. President Donald Trump may have promised that North Korea will become “very rich” on the back of American investment if Pyongyang ditches nuclear weapons but economists and academics who have studied the isolated country say it is China not the U.S. that will be the engine of any transformation. The nearest template would not be based on American-style capitalism, but China’s state-controlled market economy first championed by Deng Xiaoping, who became China’s leader in 1978, these experts said. China was just coming out of the turmoil of the 27-year reign of Mao Zedong, a period during which capitalism was banned and private businesses and property were seized by the state and placed under collective ownership. Deng introduced wrenching reforms that are widely regarded as creating the foundations of China’s economic miracle in the past 40 years. The changes were massive, the growth phenomenal, but most importantly the Chinese Communist Party has … [Read more...] about North Korea seen looking to China, not US, for help in any economic transformation
Ho Chi Minh City has been ranked third and and Hanoi sixth on a new survey that measures urban centers’ short-term growth and modernization pace around the world. The cities are attracting sizable volumes of foreign direct investment as they integrate into regional and global supply chains for high-technology manufacturing, American investment management company JLL (Jones Lang LaSalle Inc.) said in its City Momentum Index 2018. Such global attention, which is expected to continue in the near future, is helping to spur rapid economic and income growth, leading to among the world’s highest rates of increase in retail sales and air passenger numbers, it said. Vietnam's actual foreign investment reached an all-time high of $17 billion last year, when its aviation industry also served a record number of more than 94 million passengers. Stephen Wyatt, regional director of JLL Vietnam, said that seeing the Vietnamese cities in the top 10 "is not surprising." "The pace of … [Read more...] about Vietnamese cities seeing some of world’s most rapid economic growth: report
The Ministry of Planning and Investment's (MPI) draft law on developing special economic zones (EZs) will provide EZ investors with major incentives, and in particular, investors of innovative startup projects will receive the most benefits. MPI officials in the meeting with the press on the draft Law on Special Administrative-Economic Zones on September 19 Specific incentive policies for three economic zones One of the most noticeable content mentioned in the draft Law on Special Administrative-Economic Zones is the particular incentive policies for three special economic zones. Based on specific geographical and advantages of the three EZs, MPI proposed several preferential industries to focus on and develop for each zone. Van Don EZ in Quang Ninh province will focus on hi-technology or projects … [Read more...] about MPI draft proposes maximum incentives in three economic zones
Industrial revolutions are momentous events. By most reckonings, there have been only three. The first was triggered in the 1700s by the commercial steam engine and the mechanical loom. The harnessing of electricity and mass production sparked the second, around the start of the 20th century. The computer set the third in motion after World War II. It may seem too soon to proclaim that the fourth industrial revolution, spurred by interconnected digital technology, is upon us, but Mr. Henning Kagermann, Head of the German National Academy of Science and Engineering, did exactly that in 2011, when he used the term Industry 4.0 to describe a proposed government-sponsored industrial initiative. After missing the first three, Vietnam is now hoping to tap into the fourth revolution, though this requires action and not just words. Boundless prospects It’s not by chance that Industry 4.0 is mentioned often in State documents and speeches by government officials. The topic even … [Read more...] about VN tries to harness the change brought about by Industry 4.0.