Is developing Asia ready for the Industry 4.0 Revolution?
Automation would encourage reshoring as advanced economies replace human inputs in routine tasks. Vietnam, for example, might lose 26% of its jobs to this reshoring.
Automation would encourage reshoring as advanced economies replace human inputs in routine tasks. Vietnam, for example, might lose 26% of its jobs to this reshoring.
Business conditions should be for the sake of public interests, not for government agencies to fulfill their state management responsibilities, said an expert.
The center would be among the WEF’s global network of Industry 4.0 centers.
The advancement of technologies means companies are looking for fewer labor force but with higher quality, which is a major challenge for female workers, said an expert.
Vietnam wants to be an active player in the Industrial Revolution 4.0 (IR4.0) and hopes South Korean companies to develop I4.0 products in Vietnam, said Deputy Prime Minister Trinh Dinh Dung.
From the state firms’ perspective with the priority of ensuring no loss to state capital, investments in innovation pose high risks due to its uncertain nature, which could translate into successes into the long term or not.