The fourth industrial revolution (Industry 4.0) will present a challenge for Vietnam’s textiles and garment sector within the next five years, according to Le Tien Truong, CEO of the Vietnam National Textile and Garment Group (Vinatex). Automated production systems in the sector are yet to meet the requirements of Industry 4.0, he said, in particular the application of big data, the Internet of Things (IoT), and artificial intelligence (AI).
“Industry 4.0 will create very rapid changes and unpredictable factors in the economy,†he went on. “If there are no careful preparations, production systems in the sector will not be sufficiently competitive to adapt to the changes. This will be a major challenge within the next five years,†he sai.
In the 2017-2020 period, he believes, Vinatex must pay more attention to research and apply the technological achievements of Industry 4.0, improving workplace productivity. 2017 will be a year with many challenges for Vietnam’s textiles and garments. The only positive signs in the first quarter were the recovery of main markets such as the US, the EU and Japan and growth of 12 per cent year-on-year. Export turnover was estimated at $28.5 billion, up 5.4 per cent year-on-year but short of the $29 billion target, which was previously $30-$31 billion.