VIETNAM’S ECONOMIC DEVELOPMENT MODEL IN THE CONTEXT OF THE FOURTH INDUSTRIAL REVOLUTION (INDUSTRY 4.0)

Abstract

Over the past 30 years (from 1986 to present), Vietnam's economic development model has undergone significant changes to respond to and be more suitable to international and domestic conditions and contexts. As a result, Vietnam's economy has achieved a number of significant accomplishments, particularly in improving material and spiritual lives for its people and enhancing Vietnam's position internationally. However, in the context of the Fourth Industrial Revolution (Industry 4.0), Vietnam is and will face numerous challenges in its knowledge-oriented economic development. The paper focuses on assessing the practicalities of Vietnam's economy in the context of Industry 4.0 and provides some perspectives on Vietnam's economic development model under the conditions of Industry 4.0.

Keywords: The Fourth Industrial Revolution; Economic development model; Vietnam.