Truong Vincent Kinh – Chairman Sunny World Investment & Development Corporation
Digital transformation affects the way we live, work, and manage business activities across the entire Vietnamese economy from retail, banking, transportation to tourism and education.
Recognising that the application of Industry 4.0 technologies can help us restructure our apparatus, digitalise business governance, and increase competitiveness, we are giving top priority to this initiative by building a comprehensive strategy on technology application for our businesses.
To encourage Vietnam to take action and join Industry 4.0, the government should give priority to businesses to be at the centre of the national innovation ecosystem, develop the enabling government, and further improve the business climate.
They should have policies to support businesses in improving technology capacity, to enable them to develop new and key products, and advanced technologies. It is also important to renovate the education and training systems to meet the development demands in the digital age.
Jorge Martin-Martinez - General director DKSH Vietnam
E-commerce, a crucial part of Vietnam’s digital economy, has seen strong growth in terms of revenues and market scale, totaling around $4.6 billion. In such a dynamic e-commerce landscape, local market access and knowledge is key to tapping into the region’s potential. With more than 150 years of experience in Asia and Vietnam, DKSH offers a comprehensive portfolio of e-commerce services, including online channel management, digital marketing, e-fulfillment, and data analytics tailored to market needs.
Industry 4.0 also offers opportunities for DKSH across our value chain, transforming our operations, our services and how we collaborate with our clients, customers, and suppliers. DKSH Vietnam aims to leverage and develop our global digital platform to better serve our clients and customers, gain local insights, and uncover trends.
We are continually investing in our digital team to capitalise on the opportunities of Industry 4.0 and drive our e-commerce, analytics, and digital transformation agenda forward.
Patrick Architta – Chairman K2 Management Vietnam
Vietnam has vast potential and valuable natural resources, which represents an attractive open market for foreign investors. In the last five years, K2 Management has been involved in every step of numerous projects in the energy sector, from development and construction to asset management, and has a good insight into Vietnam’s current market.
For instance, the last feed-in tariff for wind electricity generation is inviting for both local and international financiers. With electricity demand growing 10 per cent a year, a bright future for wind projects is expected.
It is also pleasing to note how accessible the market is for overseas investors, who can develop projects in Vietnam in collaboration with a mix of international companies, local contractors, and Vietnamese authorities.
Regarding our involvement in the Dam Nai project, the first foreign-owned wind farm in Vietnam, we must highlight the hard work and skilled labour provided by our Vietnamese employees.
K2 Management continues to be optimistic as a lot of improvements have been made in a short period of time. K2 Management believes that renewable projects in Vietnam are competitive and the company will maintain their support for better energy projects.
Nguyen Manh Tuong - Managing director Wize Vietnam
Wize Solutions recognises that Vietnam can be a hub of innovation and creativity and not just a place for implementation.
We have always seen Vietnam as a highly inventive place, and we are committed to building our innovation hub here in Hanoi, expanding our space to accommodate growth.
Our global team is thriving but the innovative software solutions that come from Vietnam are differentiating us in the market, and that is why it makes sense for us to invest more in this location.
Pham Minh Tuan – CEO FPT Software
Although Vietnam has implemented different programmes on digital transformation, and many provinces and cities have actively participated in this practice, it still needs to take more specific action.
The decision makers on innovation should pay more attention and express more determination to carry out this process. They should find out how to start this course of action, with whom, and how to efficiently see it through. Technologies are just our tools for innovation, not magic wands. To ensure efficiency, business owners or unit leaders should be the direct captains of innovation programmes.
In addition, there should be co-operation between ministries, industries, and localities with synchronous and comprehensive plans. As a software provider, FPT Software has built a methodology on digital transformation called FPT Digital Kaizen. This is a collection of the practical experiences of a big US group.
Pham Duy Khuong - Managing director ASL Law
Vietnam is now embracing digital transformation, a comprehensive change that opens up great opportunities.
Digital transformation increases labour productivity by replacing manual labour with automation, replacing intellectual capital with data, and removing intermediate mechanisms in the value chain with direct connection tech. These factors will make Vietnam more attractive to overseas financiers when they are thinking about whom to back.
It is time for Vietnam to selectively accept investment flows with better quality, good scale, modern technology, environmental protection, and legal compliance.
Michael Sailer – CEO thyssenkrupp Vietnam
In a 2016 World Bank report on Digital Dividends, Vietnam’s Digital Adoption Index was scored at 0.46 on a scale of 0 to 1, above the global average of lower-middle income countries but below the average for the region. This could be a catalyst for Vietnam to push for further development of the ICT sector and enhance the country’s competitiveness. There are encouraging signs in the government’s strong and positive focus on Industry. For thyssenkrupp, we have developed digitalised expertise and are ready to support our business partners with digital transformation. Embracing this process will give major advantages to thyssenkrupp and our customers in Vietnam.