Manufacturing is an essential part of a developing economy. And with more and more foreign investors start manufacturing businesses in Vietnam, it has become even more important to make early-stage product development and production accessible locally.
It can be said that COVID 19 makes big changes to the global business, many big giants now start seeking for a second manufacturing outsourcing option or consider to move their sourcing from China to the third country.
To maintain growth momentum and move up international value chains, businesses in Vietnam should focus on enhancing their capabilities in three areas: talent, technology and governance, Ms Dinh Thi Quynh Van, General Director of PwC Vietnam, told the Vietnam Business Summit 2018 held in Hanoi on September 13.
Vietnam’s leading exhibition on machinery and technology for manufacturing and supporting industries, Vietnam Manufacturing Expo (VME) 2018, was kicked off last week with the aim of presenting technologies, solutions and practical experience for smart factories to support Vietnamese manufacturers in overcoming the early challenges of Industry 4.0.
Spurred by the surging export-oriented manufacturing and service sectors resulting from the country’s trade deals, Vietnam’s economic prospects are expected to remain bright.
Business process outsourcing (BPO) is believed to be one of the five sectors with the greatest potential for growth and investment in Vietnam in the near future, along with solar and wind energy, luxury hotels, modern agribusiness and food, and retail banking, according to PwC’s ‘Spotlight on Vietnam’ report released in October 2017.
When people think of the automotive Factory of the Future, the first word that comes to mind is automation. They think of the “lights-out” factory that General Motors Chief Executive Roger Smith fantasized about in 1982 and Elon Musk talks about building today—plants so dominated by robots and machines that they don’t need lights to work.
Vietnam’s economy has grown from strength to strength, with a great role played by the government and the country’s business community. Nguyen Mai, former vice chairman of the State Committee for Co-operation and Investment (now the Ministry of Planning and Investment), analyses the country’s journey over the past few decades.
Held in Sydney, Australia from May 9 to May 11, 2018, this year’s National Manufacturing Week 2018 is Australia’s largest gathering of manufacturing decision-makers under one roof. It is the one place for the manufacturing community to come together to be inspired, innovate and connect with one another over three days.
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