Investments

The Prime Minister Outlines Six Significant Impacts of the Fourth Industrial Revolution Center in Ho Chi Minh City

On the morning of September 25, Prime Minister Pham Minh Chinh attended the inauguration of the Center for the Fourth Industrial Revolution (C4IR) in Ho Chi Minh City, as part of his participation in the 5th Ho Chi Minh City Economic Forum. The Prime Minister also held a working session with the Center's founding members, emphasizing the importance of this initiative in driving Vietnam's digital transformation and economic growth.

Administrator

26 September, 2024

Prime Minister Attends the Inauguration of the Fourth Industrial Revolution Center in Ho Chi Minh City

The inauguration ceremony was honored by the presence of comrade Nguyen Van Nen, Politburo member and Secretary of the Ho Chi Minh City Party Committee; Chairman of the Ho Chi Minh City People’s Committee Phan Van Mai; leaders of ministries, sectors, and central agencies; representatives from the World Economic Forum and the Center for the Fourth Industrial Revolution (C4IR) of Malaysia, as well as the founding units of the Center.

Prime Minister Pham Minh Chinh performs the inauguration ceremony of the Fourth Industrial Revolution Center in Ho Chi Minh City – Photo: VGP/Nhat Bac

Immediately after the inauguration, the Prime Minister met and worked with the founding members of the Center.

The C4IR in Ho Chi Minh City is part of the World Economic Forum’s (WEF) global network; it is the second C4IR in Southeast Asia (after Malaysia) and the 19th in the world within the WEF network. The Center is headquartered in the High-Tech Park (Thu Duc City, Ho Chi Minh City) and officially commenced operations on September 24, 2024.

This is a result of the Vietnamese Government and Ho Chi Minh City’s efforts to promote deeper cooperation between Vietnam and the WEF, especially with the attention and encouragement of Prime Minister Pham Minh Chinh and the exchanges between the Prime Minister and Prof. Klaus Schwab, Founder and Executive Chairman of the WEF.

On June 26, 2023, at the WEF Tianjin conference, the Vietnamese Government and the WEF signed a Memorandum of Understanding for the 2023 – 2026 period, under the witness of Prime Minister Pham Minh Chinh and Prof. Klaus Schwab, Founder and Executive Chairman of the World Economic Forum.

From 2023 to 2024, following the Prime Minister’s instructions, Ho Chi Minh City proactively worked with the WEF, leading to significant outcomes such as signing a joint statement for the establishment of the C4IR at the 4th Ho Chi Minh City Economic Forum in 2023 and concluding a cooperation agreement to establish the Center in Ho Chi Minh City with the WEF at the annual World Economic Forum in Davos, Switzerland, in January 2024.

During the meeting with the Prime Minister, the Ho Chi Minh City leaders reported on the cooperation process in establishing the C4IR and its mission; the WEF leaders introduced the global C4IR network, the C4IR in Ho Chi Minh City, and the value and prospects of cooperation between the WEF and the city within the C4IR framework. The founding members also reported their business plans within the C4IR framework.

Speaking at the meeting, Prime Minister Pham Minh Chinh applauded and highly appreciated the establishment of the Center based on the implementation of the Memorandum of Understanding between the Vietnamese Government and the WEF for the 2023 – 2026 period. He affirmed that it is a result of the growing relationship between Vietnam and the WEF, in a practical, effective, trend-following, and suitable manner for Vietnam’s conditions and circumstances.

The Prime Minister commended the proactive efforts of the Ho Chi Minh City leaders and expressed his gratitude to the WEF leaders, especially Prof. Klaus Schwab, the founding enterprises, international partners, and organizations and individuals who have accompanied Vietnam in building this Center.

Prime Minister Pham Minh Chinh points out six significant meanings of the Fourth Industrial Revolution Center in Ho Chi Minh City – Photo: VGP/Nhat Bac

The Prime Minister outlined six critical meanings of the Center’s establishment: First, it concretizes and implements the Party’s guidelines on science and technology, innovation, and application of the achievements of the fourth industrial revolution to promote industrialization and modernization following the Resolution of the 13th Party Congress and the Central Committee’s Resolution. Second, it meets the objective demands of practical development in the country. Third, it contributes to deeper integration in the fields of science and technology, innovation, and participation in the fourth industrial revolution.

Moreover, the establishment of the Center also demonstrates Ho Chi Minh City’s pioneering role as the country’s economic, financial, cultural, educational, training, scientific, and innovative center. Fifth, it reflects the country’s aspirations and pride and affirms the spirit, intelligence, dynamism, and creativity of the Vietnamese nation. Finally, it consolidates the close relationship between Vietnam and the WEF, upholding the values of commitment and action.

According to the Prime Minister, sustainable and inclusive development based on modern science and technology, with a strong promotion of startups and innovation, is an inevitable trend, an objective demand, a strategic choice, and a top priority for today’s world and nations.

Looking ahead, to ensure the Center’s practical and effective operations and promote its role, the Prime Minister emphasized the Government and ministries’ responsibilities. The sectors must provide orientation, build institutions, and formulate preferential development policies. Ho Chi Minh City should clearly define the Center’s functions, tasks, and powers and create favorable conditions regarding infrastructure and mechanisms to facilitate its rapid and convenient operations, meeting development requirements.

Enterprises and founding members are expected to support financial resources, infrastructure, human resources, and governance. The Center, based on its functions, tasks, and powers, should promote self-reliance, self-governance, and proactive and effective operations.

The Prime Minister expressed his trust and expectations for the Center with 20 keywords: Pioneer, Cooperate, Connect, Digitalize, Green, Practical, Effective, Pervasive, Patriotic, and People-centric.

A National Center with International Standards, Located in Ho Chi Minh City

According to Chairman of the Ho Chi Minh City People’s Committee Phan Van Mai, the C4IR in Ho Chi Minh City will enhance cooperation with other C4IRs worldwide to support proposing solutions and policy recommendations and conducting research in the city’s priority areas and Southeast region, aligning with national orientation and international trends. The Center will also mobilize resources and capital and support the Government and businesses in adopting new technologies suitable for the fourth industrial revolution.

Mr. Phan Van Mai stated that this is a national center located in Ho Chi Minh City. The organization and operations of the Center will learn from the experiences of existing C4IRs globally and creatively apply them to Vietnam’s conditions, reflecting the nature of public-private cooperation. Ho Chi Minh City will contribute human resources and partially finance the initial stages, but the Center’s activities will strongly promote the role of businesses with their resources and management experience from the private sector.

The Center has ten founding members, including Ho Chi Minh City National University, the High-Tech Park, Saigon University of Technology, Viettel Group, Sovico Group, CMC Group, Saigon Telecommunication Technology Services Company, and banks such as Techcombank and HDBank.

Ho Chi Minh City will promptly finalize the Center’s operating regulations, closely following the Prime Minister’s directions and the guidance of central ministries and sectors. The city is committed to ensuring the most effective implementation aligned with the 20 keywords conveyed by the Prime Minister.

The founding members will contribute financially and provide personnel to participate in the Center’s governance and organization of activities following global standards (initially aiming for around ten activities per year).

Representing the founding members, the leader of Viettel Group expressed that this event marks a strong development of Ho Chi Minh City in the era of the fourth industrial revolution. Viettel Group also shared its plan to construct a large data center in Cu Chi, Ho Chi Minh City, next year. They suggested prioritizing investments in domestically produced technology platforms to reduce foreign technology dependence and enhance self-reliance and innovation. They also recommended encouraging significant global technology enterprises to enter Vietnam, providing opportunities for local businesses to learn and grow.

Ms. Nguyen Thi Phuong Thao, Chairwoman of Sovico Group’s Board of Directors, shared that Sovico has implemented many extensive projects in the Ho Chi Minh City High-Tech Park, including the Innovation Center – Galaxy Innovation Hub and the Aviation Technology Center – Vietjet Aviation Academy, and established digital banks. Sovico also launched a Venture Capital Fund worth VND 150 billion and a High-Tech Development Support Fund worth VND 100 billion.

Ms. Nguyen Thi Phuong Thao, Chairwoman of Sovico Group’s Board of Directors, shared that Sovico Group has implemented many extensive projects in the Ho Chi Minh City High-Tech Park, including the Innovation Center – Galaxy Innovation Hub and the Aviation Technology Center – Vietjet Aviation Academy, and established digital banks. Sovico also launched a Venture Capital Fund worth VND 150 billion and a High-Tech Development Support Fund worth VND 100 billion.

Nhat Quang