A recent report on the local fashion market of the Vietnam Industry Research and Consultancy (VIRAC) found that Vietnamese fashion brands are losing out in the local market, which is increasingly dominated by international brands.
In spite of strong growth over the last decade, Viet Nam’s industrial sector must start investing in R&D, finding ways to improve manufacturing efficiency and transforming into one capable of producing high-value-added products.
New technology and skilled human resources were the decisive factors to drive Việt Nam’s long-term growth, especially in the face of Industry 4.0-induced changes.
Viet Nam needs to improve the quality of its technical and vocational education and training to meet the requirements of digitisation and industry 4.0, a conference heard in HCM City yesterday.
Viet Nam’s telecom infrastructure gives it a good foundation for developing business models based on digital connections, vital for success in the fourth industrial revolution, Deputy Prime Minister Vuong Dinh Hue said yesterday.
Domestic business groups, corporations and enterprises should focus on
intensive industrial development to industrial products with a
national brand and high competitiveness on the world market.
The Ministry of Industry and Trade will focus on resolving the
difficulties of enterprises to promote production and businesses, Deputy
Minister Nguyen Cam Tu, said.
During the 2011 -13 period, HCM City placed particular emphasis on the
service, industry and agriculture sectors, with the services industry
seeing the fastest rate of growth.
VietinBank has finished selling nearly 20 per cent of its shares to Japanese bank of Bank of Tokyo-Mitsubishi UFJ with a net revenue of US$733 million.