HCMC partners with international peer to advance Industry 4.0

Ho Chi Minh City and the World Economic Forum (WEF) will cooperate to set up an Industry 4.0 center in Vietnam’s southern hub, the two sides said Friday.

A joint declaration also said that the HCMC Economic Forum (HEF) will join the WEF ecosystem towards providing solutions and policy recommendations in prioritized areas, tracking national and international trends.

The center will also serve as a catalyst for funding and other resources that support the government and enterprises in applying Industry 4.0-driven technologies in the city, in particular and in Vietnam, in general.

At Friday’s forum, HCMC People’s Committee Chairman Phan Van Mai said that the city’s strategic framework for green growth until 2030 with a vision to 2050 will be completed this year, along with a roadmap for testing implementing policies and other solutions.

Nguyen Duc Hien, deputy head of the Party’s Central Economic Commission, hailed the city’s pioneering role in adopting the circular economy model for green growth. He said the commission also supports the city’s ambition to become a national and regional financial hub.

Hien pointed out that credit for green growth accounted for just 4.2% of total outstanding loans nationwide. "Banks should, therefore, provide more green loans for metropolises like HCMC."

Hien also said that he expected HCMC’s green growth model to be a success that will be disseminated nationwide.

The WEF is an international organization for public-private cooperation that aims to engage the "foremost political, business, cultural and other leaders of society to shape, global, regional and industry agendas."