Industrial Revolution 4.0: Current Opportunities and Challenges for the Development of Trade in Services in Vietnam

Abstract: Industrial Revolution 4.0 is considered to be an opportunity for comprehensive innovation in economy and has been carried out successfully in some developed countries. According to Mr. Nguyen Van Binh - Head of the Central Economic Commission: “Industrial revolution 4.0 gives developing countries an opportunity to shorten the process of industrialization by leap-frogging and leaping on advanced technologies”. It can be seen that Industrial Revolution 4.0 has affected all areas including trade in services of our country. However, in parallel with the opportunities, there are many challenges and potential risk that trade in services in Vietnam has to face. Consequently, this paper focuses on clarifying some related concepts and pointing out the opportunities and challenges that trade in services in Vietnam has to face during Industrial Revolution 4.0.

Key words: opportunities; challenges; trade in services; Industrial Revolution 4.0

         JEL code: F