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| A technology product is introduced to PM Nguyen Xuan Phuc (R) at the national forum on developing technology companies in Hanoi on May 9 (Photo: VNA) |
The first-ever national forum on developing technology companies gathered about
1,000 delegates, including officials of the Government, ministries, sectors, and
localities, along with hundreds of experts and tech firms from Vietnam and other
countries.
In his speech, PM Phuc noted that Vietnam expects by 2045, it will become a
prosperous industrialised nation with more than half of its population
middle-class.
To escape from the middle-income trap, the first step to be taken is to master
technology with innovation and the production of high-quality goods, he said,
adding that in the irreversible trend of the Fourth Industrial Revolution
(Industry 4.0), tech businesses of Vietnam are critically important to national
development.
Vietnam will be able to keep up with developed countries if it can grasp
Industry 4.0 opportunities, he said.
At present, digital trade generates about 3.5 billion USD for Vietnam’s economy,
equivalent to 1.7 percent of the total GDP, and the figure is forecast to reach
42 billion USD in 2030. There are nearly 50,000 companies working in the
information and communications technology sector of Vietnam, earning some 100
billion USD in revenue.
The Government leader noted that during Industry 4.0, economies will shift from
a growth model based on cheap labour, land, and natural resources, to one driven
by technology and innovation. Many labour-intensive sectors will lose their
competitive edge and have to reduce their scale of production.
He called for breakthroughs from mindsets to actions, adding that outdated modes
of business must be replaced with those based on technology and innovation.
The Government encourages big businesses that have been successful in foreign
markets to return to Vietnam to lead the development of tech companies, PM Phuc
said, evoking patriotism in Vietnamese enterprises to join hands in developing a
strong and prosperous nation.
In his speech, the PM also noted a national digital transformation strategy will
be issued in 2019 to facilitate digital economy and society, thus promoting the
market for tech firms.
At the forum, participants discussed the role of Vietnamese tech firms in
helping the country escape from the middle-income trap, policies and solutions
to develop tech companies, and solutions to connect these businesses.
Source: VNA
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