Viet Nam looks forward to industrial transformation goals
There are exciting times ahead in Viet Nam as the 5th Ho Chi Minh City Economic Forum opened this week looking at industrial transformation goals.
Viet Nam’s Prime Minister Phạm Minh Chính officially inaugurated the Viet Nam Center for the Fourth Industrial Revolution (C4IR) at Sai Gon Hi-Tech Park as part of the opening events.
He was accompanied by Ho Chi Minh (HCM) City Party Secretary Nguyễn Văn Nên, economic experts in Viet Nam, and representatives from 16 different countries.
Nên said HCM City was set to become a modern industrial city and by 2045, its industry was to be on par with that of other major cities in the region.
Phạm Bình An, deputy director of the HCM City Institute for Development Studies, said HCM City was a major hub for economy, culture, education, science and technology within the country and contributes 15.9 per cent of Viet Nam’s GDP.
But he added that its economy had stagnated in terms of efficiency, and its driving forces for development were dwindling. It needed to restructure its economy by focusing more on digitalization, sustainability, improving value chains, and developing core industries, which would help find new driving forces for development, he concluded.
The Viet Nam center is the second to be established by the World Economic Forum in South-East Asia, following the launch of C4IR Malaysia in 2023, and aims to become a hub of expertise to co-design and pilot future-focused policy frameworks that enable the development and deployment of technology regionally and globally.
HEF aims to promote discussion
The Ho Chi Minh City Economic Forum’s aim is to promote discussion and cooperation between Ho Chi Minh City and international partners and experts on economic, social issues and development trends, finding solutions and shaping growth and development strategy for it and megacities.
The forum was expected to attract the participation of representatives from Vietnamese ministries and sectors, along with around 1,500 delegates from international financial institutions such as the World Bank (WB), International Monetary Fund (IMF), International Finance Corporation (IFC), and Asian Development Bank (ADB); international organisations like the World Economic Forum (WEF); and representatives of Vietnamese and foreign localities, diplomatic agencies, and businesses.
With the theme “Industrial Transformation – a New Driving Force for HCM City’s Sustainable Development,” the forum discussed topics including global industrial transformation trends, the direction for HCM City’s industrial transformation, and the policies which would be required.
Veracity Trust Network’s Group CTO and APAC CEO Stewart Boutcher was at the event, taking part in a panel, alongside other experts, discussing the theme ‘Industrial transformation, a motivation to serve sustainable development in Ho Chi Minh City’.
Stewart (with mic) speaks at the panel on September 25th.
Responding to a question about what key areas Viet Nam and HCM City in particular, should focus on to ensure safety and continuity in production and business operation, Stewart said: “When looking at an industrial transformation strategy, a robust and forward-looking cybersecurity framework is required that protects its infrastructure, organisations, Government, data, and citizens against cyber-attacks arising from current threats, future already known threats, and future unexpected threats alike. “
He added: “No technology solution can be completely secure. An industrial transformational project needs to ensure that that it is balancing efficiency and innovation across industry, alongside cybersecurity, privacy protection and national security considerations.”
Referencing the Cybersecurity Best Practices for Smart Cities guidelines drafted in 2023 by the cyber authorities of the USA, UK, Canada, Australia, and New Zealand, he also outlined how Smart Cities may create safer, more efficient, more resilient communities through technological innovation and data-driven decision-making.
However, this opportunity also introduces potential vulnerabilities that, if exploited, could impact national security, economic security, public health and safety, and critical infrastructure operations.
He concluded: “The Cybersecurity landscape is a complicated one and difficult to keep up with, due to technology changes, innovations by bad actors who have a strong incentive to innovate, and the lack of skilled people available to work for the good actors.
“Cybersecurity cannot be an “add-on” or “afterthought”; it must be built into the core of all design planning, to avoid leaving gaps in coverage that may be exploited by potential attackers. A strong vision for cybersecurity excellence at the heart of an industrial transformation policy will support and benefit the project as a whole.”
Stewart is in the APAC region for another four weeks and will be meeting with other cybersecurity experts and government representatives during his stay.
For information or to connect with Stewart using LinkedIn:
https://www.linkedin.com/feed/update/urn:li:activity:7244742707154231297
