Vietnam Grapples with Job Creation Amid Digital Transformation: World Economic Forum Founder to Discuss Industry 4.0 Support

Date:

Vietnam is facing a challenging task of creating new job opportunities amidst rapid digital transformation and a growing population. In an effort to address this issue, Klaus Schwab, the founder of the World Economic Forum (WEF), is expected to visit Vietnam later this year to discuss how the forum can support the country in implementing Industry 4.0 and boosting digital transformation.

In June, Vietnam and the WEF signed a memorandum of understanding (MoU) to promote cooperation in key sectors such as innovation, skills development, green transformation, and digital transformation. The goal is to establish an Industry 4.0 center and collaborate on various initiatives including plastic action and finance for renewable energy transition.

Schwab’s visit follows his previous trip to Vietnam in 2018, where he shared his insights on sustainable development in the era of Industry 4.0. His book, Shaping the Fourth Industrial Revolution, provides a practical guide for citizens, business leaders, and policymakers by drawing on the expertise of over 200 technological, economic, and sociological experts.

The book emphasizes the importance of ensuring that domestic workers in Vietnam are not left behind due to digital transformation. With the increasing use of digital technology, individuals like Tran Bao Tran, a fourth-year student at the Hanoi University of Science and Technology, are taking proactive steps to adapt to the changing job market. Tran works as a part-time technological programmer to earn money for further education and to prepare for her future.

Tran’s brother, Tran Minh Duc, who is studying computer science in Germany, also plans to return to Vietnam in order to take advantage of the employment opportunities arising from the country’s strong focus on industrial development and digital transformation.

See also  Libya Launches National AI Policy on World Telecommunication Day

Vietnam has made significant progress in its transition from a centrally planned to a market economy, becoming one of the most dynamic emerging countries in the East Asia region. However, the country faces the challenge of providing sufficient employment for its growing population, especially as disruptive technologies continue to replace manual labor.

To catch up with Industry 4.0, Vietnam needs to invest more in creating a skilled workforce. Germany serves as a good example with 40% of its workforce employed in the scientific and technological sector. In contrast, Vietnam only allocates 0.5% of its GDP for research and development (R&D).

The United Nations Development Programme (UNDP) has warned that Industry 4.0 and digital transformation may lead to unemployment in Vietnam if the country does not prioritize R&D. It is crucial for Vietnam to prepare for and adapt to the impact of Industry 4.0 in order to explore potential negative impacts and formulate mitigation strategies.

Overall, Vietnam recognizes the importance of leveraging digital transformation and Industry 4.0 for economic growth and job creation. By collaborating with international organizations like the World Economic Forum, Vietnam aims to develop policies and initiatives that will empower its workforce and ensure they are not left behind in the face of technological advancements.

Frequently Asked Questions (FAQs) Related to the Above News

What is the purpose of Klaus Schwab's visit to Vietnam?

Klaus Schwab, the founder of the World Economic Forum (WEF), is expected to visit Vietnam to discuss how the forum can support the country in implementing Industry 4.0 and boosting digital transformation.

What sectors will the memorandum of understanding (MoU) between Vietnam and the WEF promote cooperation in?

The MoU aims to promote cooperation in key sectors such as innovation, skills development, green transformation, and digital transformation.

What initiatives will Vietnam and the WEF collaborate on?

Vietnam and the WEF will collaborate on initiatives including plastic action and finance for renewable energy transition, alongside the establishment of an Industry 4.0 center.

What insights did Klaus Schwab share during his previous trip to Vietnam in 2018?

During his previous trip, Klaus Schwab shared his insights on sustainable development in the era of Industry 4.0, drawing on the expertise of over 200 technological, economic, and sociological experts.

How is Vietnam preparing its workforce for the impact of digital transformation?

Vietnam recognizes the importance of creating a skilled workforce and aims to invest more in research and development (R&D) to catch up with Industry 4.0. However, it currently allocates only 0.5% of its GDP for R&D.

What warnings have been issued regarding unemployment in Vietnam due to Industry 4.0?

The United Nations Development Programme (UNDP) has warned that without prioritizing R&D, Industry 4.0 and digital transformation may lead to unemployment in Vietnam.

How does Vietnam aim to prevent its workforce from being left behind in the face of technological advancements?

Vietnam aims to develop policies and initiatives in collaboration with international organizations like the World Economic Forum to empower its workforce and ensure they are not left behind in the face of technological advancements.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

Share post:

Subscribe

Popular

More like this
Related

HCLTech Partners with Arm on Custom AI Silicon Chips Revolutionizing Data Centers

HCLTech partners with Arm to revolutionize data centers with custom AI chips, optimizing AI workloads for efficiency and performance.

EDA Launches Tender for Advanced UAS Integration in European Airspace

EDA launches tender for advanced UAS integration in European airspace. Enhancing operational resilience and navigation accuracy. Register now!

Ethereum ETF Approval Sparks WienerAI Frenzy for 100x Gains!

Get ready for 100x gains with WienerAI as potential Ethereum ETF approval sparks frenzy for ETH investors! Don't miss out on this opportunity.

BBVA Launches Innovative AI Program with ChatGPT to Revolutionize Business Operations

BBVA partners with OpenAI to revolutionize business operations through innovative ChatGPT AI program, enhancing productivity and innovation.