Industrial Revolution 4.0 to boost Vietnam’s GDP 16%

The 4th Industrial Revolution, also known as Industry 4.0, could boost Vietnam's GDP by 28 to 62 billion USD, equivalent to 7 to 16% growth, by 2030, according to a report by the Central Institute for Economic Management (CIEM) at a forum in Hanoi on Tuesday.

The report predicted that Vietnam's GDP per capita can increase the maximum 640 USD by 2030 thanks to labor productivity improvements and job opportunities.

Experts suggested that Vietnam should revise its business managements by using a digital platform, create institutional space for technological tests, and improve the quality of intellectual property protection to encourage innovation. They stressed the importance of developing key strategic technological products in the information technology, electronics, and telecommunications industries.

Source: VOV5