HCM CITY — The chairman of the Central Economic Commission has said that IoT would help upgrade the manufacturing sector, accelerate national growth and build a smart society.

Nguyễn Văn Bình, who is also a member of the Politburo and the Party’s Secretariat, said that more preferential policies should be available for digital economic activities.

Bình spoke at an international conference and exhibition on the potential of Internet of Things (IoT) and Việt Nam’s IoT market held on October 24 in HCM City.

He said the market should expect new business models during Industrial Revolution 4.0.

Nguyễn Mạnh Hùng, member of the Communist Party of Việt Nam’s Central Committee, and newly-elected Minister of Information and Communications, said that Việt Nam should develop both a cybersecurity and IoT industry. 

The country also has certain advantages such as quality telecommunication infrastructure and strong telecommunication firms, he noted.

At the event, panels of experts discussed various topics, including IoT applications in smart cities, and the management of diversity and challenges of smart cities, among others.  

They also spoke about the importance of cybersecurity, which includes the protection of private personal information and financial data online.

IoT and the smart manufacturing revolution were discussed, as well as manufacturing in the age of digital transformation and smart farms with IoT platforms.

In addition to the three conference sessions, an exhibition on smart IoT included leading technology firms such as ABB, LG Electronics, Dell EMC, Viettel, MobiFone, Ericsson, and ZTE, among others.

The event was organised by the Việt Nam Internet Association and IEC Group. About 40 representatives from authorities, 1,200 delegates, and 30 experts in the field attended the event.  — VNS