HÀ NỘI — The Party Central Committee’s Commission for Economic Affairs will host Smart Industry World 2017, the first of its kind in Việt Nam, on December 4-5.

Speaking at a press conference in Hà Nội on Thursday, the commission’s deputy head, Ngô Văn Tuấn, said global development of the Fourth Industrial Revolution, known as Industry 4.0, was not only challenging the country, but also giving it good opportunities to take advantage and solve a series of major problems in the country’s economic development and restructuring of the agricultural industry.

The event, which will take place in JW Marriot, Hà Nội, is aimed at building a forum for the Party’s consulting agencies, State management bodies, researchers, experts and the business community to discuss orientation and methods to attract investment and develop the smart industry in Việt Nam.

It will also improve connections among businesses and domestic and foreign investors to learn more about the potential, investment environment and co-operation opportunities in developing the smart industry in various sectors and localities in Việt Nam.

According to the organizer, there will be four large-scale international seminars held during the exhibition, focusing on orienting and developing smart industry in the future, renovating manufacturing industries with breakthrough technologies, promoting trade and service in the digital age and formulating strategies for building smart urban areas.

The event will have more than 50 booths showcasing smart technologies of the world’s leading producers and technology companies from the United States, European Union, Israel, South Korea and Japan.

The exhibition site will be divided into three parts -- Fintech, software and information infrastructure and hardware (robot, automation and smart city models).

Deputy Minister of Science and Technology Phạm Đại Dương said the Government was very interested in smart industry development.

Dương quoted Prime Minister Nguyễn Xuân Phúc’s instruction during a Government session held recently, according to which he required all bodies to take advantage of opportunities and minimise the challenges of Industry 4.0. Agencies from different levels would have to raise awareness for the entire society and every person, business, agency and organisation to know about the opportunities and challenges of Industry 4.0.

Phúc wanted relevant ministries and sectors to watch for the implementation of Industry 4.0 in the country, make annual reports to the Government and propose methods to boost the industry in Việt Nam.

Industry 4.0 is a name for the current trend of automation and data exchange in manufacturing technologies. It includes cyber-physical systems, the Internet of things, cloud computing and cognitive computing. Industry 4.0 creates what has been called a "smart factory." — VNS