Promote innovation, improve productivity to catch up I4.0

To be ready for industrial transformation, increase productivity and keep up with the development of the Industrial 4.0 revolution of the world, Vietnamese businesses need to promote innovation and improve productivity.

At the seminar “Asia – Pacific Industrial Transformation Exhibition (ITAP) – Bring Industrial Revolution 4.0 to Vietnam” by SingEx Exhibition Pte, Ltd , together with international partner Deutsche Messe on the afternoon of August 6, many comments said: Industry 4.0 (I4.0) now changes the context of contemporary production through digital, helping increase product productivity. In the ASEAN region in general, these impacts will create a growth from $ 216 billion to $ 637 billion annually before 2025 (according to McKinsey’s report on I4.0).

As for Vietnam, ASEAN’s economic resilience will be a very good signal for Vietnam’s broad-based economic growth this year, with a growth rate of about 6.7%. In addition, the Government of Vietnam’s commitment to growth focused on the private sector also helps to improve economic conditions, along with direct foreign investment and production has become a driving force for economic growth.

However, according to experts, to be ready for this future, requires Vietnam to promote access to I4.0 innovation of enterprises in the industry through investment in technology and children people. Because, in the current situation, the technology of many small businesses is still not synchronized, so the productivity is not high.

According to the General Statistics Office, Vietnam’s labor productivity has improved to USD 11,142 / employee in 2018, only 7.3% of Singapore’s productivity, 19% of Malaysia, 37% of Thailand, 44.8% of Indonesia and 55.9% of the labor productivity of the Philippines. Therefore, if not improved promptly, Vietnam will lag behind, not keep up with the wave I4.0. In fact, many businesses in Vietnam, especially small and medium-sized enterprises operating in the industry are all caught up in the above obstacles. The reason was pointed out that because these enterprises lack of capital, it is difficult for technology investment and human resources, so they are not well invested and cannot meet the requirements of using modern machines.

For example, textile and garment industry, as shared by Vietnam Textile and Apparel Association, the Vietnam garment industry has not had trained human resources to keep up with modern technology modern but no one has enough knowledge to operate.

“Uncertainty in understanding and implementing I4.0 approaches creates obstacles, along with a lack of orientation and concentration in industries,” acknowledged SingEx Exhibitions representative.

In that context, Mr. Peter Tan – Director of Industry Solutions – Infrastructure, business event of SingEx Exhibitions – said: To provide the best solution for Vietnamese manufacturers and businesses, to help them become leaders in the industrial revolution 4.0, SingEx Exhibitions and partners will host the Asia-Pacific Industrial Transformation exhibition in Singapore from October 22-24, 2019.

Our exhibition will address the industry’s top priorities while leading companies through their pilot traps; choose the most suitable solutions that are scalable, cost-effective and easy to implement. A special point is that the parties to apply I4.0 at all stages will be supported to test solutions and prototypes, thereby helping to transform equivalent business models into models ready to catch up with speed future development.

According to SingEx Exhibitions, Vietnamese companies will participate in online and direct activities and programs for a diverse range of industries and markets. Because according to information from the organizers, from exhibition space, cooperation room for private guided tours, etc all aim to provide the best solution for manufacturers and businesses. Vietnamese businesses to become leaders of the 4.0 industrial revolution.

Productivity and Quality Office