A new report provides insights for Australian firms looking to explore business opportunities in Vietnam related to Industry 4.0 across the agriculture, logistics and higher education sectors.
The report - Strengthening Victoria's Connections with Southeast Asia: Industry 4.0 in Viet Nam - Opportunities for Australian Business – is the latest in a series from RMIT's Asia Trade and Innovation Hub, aimed at providing a practical roadmap for business and government looking to strengthen their relationships and participation in the South-East Asian region.
This report focuses on the burgeoning tech sector, specifically edtech, agtech and logistics tech, which have been prioritised for digital transformation by the Government of Vietnam.
Lead author, RMIT's Associate Professor Vinh Thai said Australia's experience and expertise could be transferred and leveraged in Vietnam, providing opportunities for both countries.
"Industry 4.0 is an accelerating, expanding priority in Vietnam, and Australia's position as a relative front runner provides opportunities to market training, technology and services in Vietnam", he said.
"The two countries already have bilateral complementarities in the three identified industries, and Vietnam's position as a fast adopter signals its readiness for Industry 4.0."
"There is a strong framework in place to help companies achieve these opportunities, and next year's focus on 50 years of bilateral relations will only sharpen that focus," Thai added.
Thai said the strengthened collaboration between Australian and Vietnamese organisations who leveraged the opportunities identified in the report would contribute to enhancing the digital transformation which is being emphasised by the Vietnamese Government.
Industry 4.0 in Viet Nam was released at a partnered Australia Vietnam Policy Institute, RMIT Asia Trade and Innovation Hub, and Asia Society Australia event, one of a series of strategic partner and business events to mark a visiting delegation from Vietnam led by His Excellency Mr Vuong Dinh Hue, President of the National Assembly of Vietnam and several Vietnamese government and National Assembly representatives.
The report was funded by the Victorian Government under the Victorian Higher Education State Investment Fund (VHESIF), as part of the RMIT Asia Trade and Innovation Hub.
The Hub is a partnership between RMIT University and Asia Society Australia, and was officially launched in August alongside Asia Society Australia's new headquarters, located at RMIT's CBD campus in Melbourne.
The report is the latest developed by the Hub since its launch in August – the previous two reports can be accessed here.
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