Improving Innovation at the Era of Industry 4.0 in Vietnam

31/12/2021

Le Kim Sa

Abstract: The Fourth Industrial Revolution (IR4.0) is creating numerous opportunities for enterprises to form a flexible production model in which products can be customized for each individual customer. Here in Vietnam, the state’s role is to develop a management mechanism suitable to the digital business environment, making it favorable for innovation. The state enacts a pilot institutional framework to control technologies, products, services, and new business models created by IR4.0. Over the past years, Vietnam’s industrial production has been developing both quantitatively and qualitatively, with industrial sectors’ positive structural change. IR4.0 has brought about challenges and opportunities. Whether enterprises can lag behind or move forward largely would depend on their mindset and concrete actions. Actively joining IR4.0, innovation is both an objective requirement and an urgent long-term strategic mission for the whole political system and the entire society in Vietnam.
Keywords: Fourth Industrial Revolution (IR4.0), innovation,Vietnam.