Prime Minister Pham Minh Chinh attends the inauguration ceremony of the Center for the fourth Industrial Revolution (C4IR). Photo: VOV

It is part of an agreement between Vietnam and the World Economic Forum (WEF) and the second center in Southeast Asia after Malaysia, joining in the WEF's global network of fourth Industrial Revolution Centers.

The center is a place for research cooperation, policy proposals, resource mobilization, and technology transfer in industrial transformation. C4IR forms ecosystems of semiconductor chip technology, biotechnology, new materials, drones, artificial intelligence, and IoT. It functions as a unit of the People's Committee of Ho Chi Minh City that operates under an autonomous mechanism similar to a business.

Prime Minister Pham Minh Chinh delivering a speech. Photo: VOV

During the inauguration, Prime Minister Chinh worked with banking and technology businesses and asked for their support in terms of resources, finance, human resources, and administration for the fourth Industrial Revolution Center to operate effectively.