The 4.0 Industrial Revolution will bring more opportunities for import-export businesses, such as: Reduction of transaction - management costs, increasing accessibility to markets, application of modern technologies, and more importantly, opportunities to innovate, breakthrough. The 4.0 Industrial Revolution has brought great opportunities and challenges to the province's import and export activities. In picture: Leather shoe export at Dong Hung Shoe Company. Many advantages According to Ministry of Industry and Trade, Vietnam's export turnover has seen strong growth in recent years, reached an average annual growth rate of 17.5% in 2011-2015. According to the World Trade Organization (WTO), Vietnam was ranked 26th in the world's largest export markets. In 2017, Vietnam's export turnover is expected to exceed $ 200 billion. Binh Duong is located in the Southern Key Economic Zone, one of the most dynamically economic developing provinces in the country. Binh Duong is also making more and more contributions to the export map of the country. Only in the first 9 months of 2017, export turnover of the whole province reached 20.4 billion USD, accounting for about 1/10 of the whole country. Expectedly, this year, export turnover of Binh Duong would reach 25 billion USD. According to experts, Industry 4.0 facilitates the creation of "smart plants" or "digital factories", where smart devices communicate with each other through a network, constantly share information on current shipments, material quantities and changes in orders, or on incidents or errors. As a result, the supply chain has the highest efficiency in terms of processing time, storage time, productivity, cost and material savings. Exports of agricultural products would also have breakthroughs with new plant varieties. Another noteworthy parameter, the foreign invested sector always occupies a high proportion (over 80%) in the export turnover of the province. Along with the continuous growth of the industry, billions of dollar and modern, hi-tech and less labor-intensive components have been used in Binh Duong. This is an important premise to bring about the increase of export value to Binh Duong in the near future. Because The Industrial Revolution 4.0 has been spreading around the globe, Binh Duong is also be in the "big game". Many challenges However, for the export sector to develop sustainably, Vietnam in general and Binh Duong in particular must have a fundamental solution for production development, economic restructuring; It should focus on improving the productivity, quality and value of export products while paying attention to resource saving and environmental protection. These are the general orientations that provincial Party Committee, People's Council and People's Committee have set out and implemented throughout the time of inviting, selecting reputable and effective investors to produce and do business in the province. Once the 4.0 revolution spreads across the globe, businesses in general and importers and exporters in particular would face the first challenge of information technology, so technology risks would increase. In addition, there would appear challenges related to human resources, because Industry 4.0 requires highly qualified human resources with high levels of skill and knowledge. In addition, businesses need to change the perception and choices of customers and partners when applying new technologies. On the other hand, if the regulators were slow in the wake of this revolution, it would cause certain obstacles for businesses in the strategy of implementing Industrial Revolution 4.0. This is a big barrier to the business community in Binh Duong province, because small and micro enterprises in the province are still the majority of the province; While businesses with high technical level, application of modern technologies are still few. One of the other challenges is that export transactions carried out entirely through the Internet, which will require new mechanisms and policies to manage export and import activities to catch up with the new situation in order to secure the objective of boosting exports, controlling imports as well as ensuring national security, environmental safety, occupational safety and other legitimate public purposes in accordance with international conventions that Vietnam has signed, joined. Nguyen Van Hung, General Director of CNC Tech Corporation (Dong An 1 Industrial Park, Thuan An Township), said that the Industrial Revolution 4.0 was an opportunity but also a big challenge to Binh Duong's import and export. If we take advantage of opportunities as well as have reasonable policies, reform efforts and good support from the State management agencies, export turnover of Binh Duong in the coming time would continue to increase, create major breakthroughs for local socio-economic development. Reported by Khanh Vinh – Translated by Ngoc Huynh
Industrial 4.0: Binh Duong has many opportunities to increase export turnover
