With a well-developed information technology platform, Vietnam is considered to have potential in artificial intelligence (AI) and blockchain, creating momentum for the digital economy.

Vietnamese businesses need to create their own development strategies based on the foundations of the fourth industrial revolution (Industry 4.0). These strategies must be new, flexible, and able to help businesses adapt to changes.

A number of industries that make products for export, including textiles and garments, are expected to change for the better if they can take full advantage of the value chain from EVFTA.

Domestic enterprises will cope with strict and high standards and a series of trade and investment disputes from the newly-signed EVFTA and EVIPA between Viet Nam and the EU, said Minister of Industry and Trade Tran Tuan Anh.