A report on readiness for the fourth industrial revolution by the World Economic Forum (WEF) revealed that Viet Nam ranked 48th in structure of production and 53rd in drivers of production.

Viet Nam has made strong technological developments, laying the foundations for the successful application of the technologies of the fourth industrial revolution.

Over the last 10 years, Viet Nam’s digital economy has grown in terms of digital connection infrastructure and business market.

The number of internet users in Viet Nam was 17.7 million in 2007 and grew to 64 million, equal to 67 per cent of the population, last year. The country ranked 13th among the top 20 countries with the highest number of internet users.

Viet Nam is considered to have favourable conditions to fully utilise the achievements of Industry 4.0.

The Vietnam News Agency quoted the head of the Party Central Committee’s Economic Commission Nguyen Van Binh as saying that for a developing country like Viet Nam, exploiting the fourth industrial revolution opens up opportunities for Viet Nam to raise its technology level, production capacity and competitive capacity in the global value chain; create major changes in the sustainable business model and chances for innovative start-ups and offers the potential for developing countries to shorten industrialisation processes.

Minister of Science and Technology Chu Ngoc Anh stressed that the fourth industrial revolution had had a clear impact on the socio-economic development of Viet Nam.

Therefore, the development and promotion of research and development activities and transferring key technologies played an important role in bringing Viet Nam closer to the fourth industrial revolution. The country needed to study the development of the fourth industrial revolution and build appropriate policies for socio-economic development in line with international trends, Anh said.

Binh also emphasised that even with proper and timely exploitation of the opportunities of the fourth industrial revolution, the revolution still posed challenges for the country, businesses and individuals.

This required the government and businesses of Viet Nam to develop strong innovations, he said.

Also at a high-level forum on Industry 4.0, Prime Minister Nguyen Xuan Phuc emphasised that businesses and people needed to have clear awareness about the fourth industrial revolution, from which they can research, deploy and further apply the achievements of science and technology.

The PM also proposed a response to the negative effects of the fourth industrial revolution, such as setting up scenarios to adapt to the changing circumstances of the revolution; strengthening risk management, and especially dealing with problems of employment and State and corporate governance.

To actively grasp, exploit and respond to challenges of the fourth industrial revolution, Binh affirmed that "the digital industry is the foundation for development".

"Building a strong legal corridor for the digital industry, preparing for the digital transition, developing information infrastructure, training high-quality human resources, reforming administration and enhancing national competitiveness are urgent and necessary," Binh noted.

The Party and State of Viet Nam appreciate the development of information technology in the context of the industrial revolution 4.0. The country is studying and developing legal policies to create favourable conditions for enterprises and people to study and apply technology products.

In the context of the fourth industrial revolution around the world, countries and governments are interested in and actively developing their own strategies such as Germany with “Industrie 4.0”, South Korea with “iKorea 4.0’’ and China with “Made in China 2025”.

From the reality and experiences of other countries, Viet Nam is also developing its own national strategy.

Prime Minister Nguyen Xuan Phuc asked the Ministry of Planning and Investment to soon complete the development of the National Strategy on Industrial Revolution 4.0, the Ministry of Science and Technology to develop the science and technology and innovation report 2035 and each ministry and locality to develop an action plan in line with the industrial revolution 4.0.