Prime Minister calls for investment in Industry 4.0 products in Vietnam

(VOVWORLD) - “Fostering Dynamics and Innovation in the 4th Industrial Revolution” was the focus of a dialogue between Prime Minister Nguyen Xuan Phuc and executives of global groups in Davos, Switzerland, on Wednesday, on the sidelines of the ongoing World Economic Forum (WEF) Annual Meeting 2019.

Prime Minister calls for investment in Industry 4.0 products in Vietnam - ảnh 1 Prime Minister Nguyen Xuan Phuc greets leaders of global groups in Davos, Switzerland. (Photo: VNA)

Opening the dialogue, Prime Minister Phuc attributed Vietnam’s economic achievements to political and social stability, a strong determination to reform, and an improved business environment which have resulted in rapid and continuous growth of GDP – almost 6.7% per year. In 2018, Vietnam’s economy grew 7.08%, per capita GDP reached 2,600 USD, and its trade revenue totaled 480 billion USD with a trade surplus of 7.4 billion USD.

Mr. Phuc asked EU companies to support the EU-Vietnam Free Trade Agreement (EVFTA) which Vietnam and the EU are working to sign and ratify very soon.

Prime Minister Phuc said Vietnam considers Industry 4.0 a big opportunity, allowing countries around the world to compete using innovation in addition to traditional factors like free trade, size, experience, labor, and investment capital. Industry 4.0 is also a revolution of policy, he said, adding that Vietnam has launched a program called “Made in Vietnam 4.0” which encourages industries based on new policies, mindset, and technologies.  

Vietnam and the WEF signed a cooperation agreement on Thursday on building an Industry 4.0 Center in Vietnam and connecting it with similar centers in the US and Europe. This agreement will make Vietnam a leader in building a policy framework that is receptive to new technologies, stepping up public-private partnerships to create breakthroughs, and pursuing environment-friendly services and products. Prime Minister Phuc called on international firms to come to Vietnam and make Industry 4.0 products here.

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