4.0 industrial revolution to bring major changes to labor marketVietNamNet Bridge - Vietnam’s cheap labor force will no longer be an advantage in attracting investment as the cost for applying advanced technologies is getting lower. Vietnam’s cheap labor force will no longer be an advantage in attracting investment as the cost for applying advanced technologies is getting lower. Dao Thi Thu Huyen, chief secretariat of Canon Vietnam, said Canon’s managers were surprised as Vietnam can lose its advantage in cheap labor costs quickly. These will be the labor intensive labor industries that will suffer heavily from the 4.0 revolution. Analysts said that in the past, foreign investors flocked to Vietnam because they were attracted by the cheap labor costs.

Source: VietNamNet News January 23, 2017 02:50 UTC