INDUSTRIAL POLICIES OF SOME COUNTRIES AND RECOMMENDATION FOR VIETNAM ON THE THRESHOLD OF THE 4TH INDUSTRIAL REVOLUTION

Abstract

The world has gone through three industrial revolutions with considerable
achievements. The fourth Industrial Revolution (4IR) is a new era attracting great attention of many countries in the world, including Vietnam. The 4IR is expected to bring great benefits and profound impact on many aspects of the world economy. However, for countries depending on natural resources and indigenous cheap labour like Vietnam, negative effect of the 4IR in the early stages can be seen. Taking the advantages of a follower, Vietnam can learn from experiences in industrial policy formulation of developed countries such as Germany, the United States or South Korea in order to identify opportunities and challenges for the country so as to make responses and decisions appropriate to the development trend of the 4IR.

Keywords: Fourth Industrial Revolution, 4IR, industrial policy, effect, Vietnam