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Good news for electronics industry
Currently, the export turnover of hi-tech products tends to increase rapidly. This bodes well for the development of electronics industry, paving the way for large manufacturers in the world to Vietnam.
Export revenues from electronics increased rapidly
According to statistics from the Ministry of Industry and Trade, the export revenues from electronics continue to grow in all markets in the first eight months of this year. Particularly, the export turnover of telephones and accessories reached US$13.1 billion, up 76.2 percent compared with the same period last year. The main import markets of telephones and components from Vietnam included the European Union (EU) with turnover reaching US$4.68 billion, up 76.6 percent compared with the same period last year and accounting for 40.5 percent of the total export value of telephones and accessories. In addition, the export turnover from the United Arab Emirates also reached US$1.93 billion, an increase of 164 percent; while that from India reached US$572 million, an increase of 176 percent.
Exports of computers, electronic products and components also brought about US$5.78 billion, up 42.5 percent (equivalent to 1.72 billion U.S. dollars) over the same period last year. Currently, the major import markets include EU reaching US$1.23 billion, up 80.2 percent; China reaching US$1.33 billion, up 28.3 percent; US reaching US$749 million, up 52.1 percent.
According to Chairman of Vietnam Electronic Industries Association Le Ngoc Son, over the past decade of establishment and development, domestic electronics industry has exported products to nearly 50 countries around the world. Major export items included electronic components, hardware, computers, telephones and components. In the 1997-2012 period, exports of computers, electronic products and components increased on annual average by 21.2 percent, from US$440 million in 1997 to US$7.838 billion in 2012. Last year, export revenue from mobile phones alone reached US$12.7 billion, and it is expected that export revenue from telephones and accessories will exceed US$18 billion this year and become the topmost export earner.
Increased localization rate in electronics industry
Although revenues from exports of computers, electronic components, and phones increased, the actual achieved increments were fairly low compared to other countries in the region as Vietnamese manufacturers must import almost all ingredients. Domestic electronics companies largely involved with electronic assembly for foreign companies.
|“Vietnamese electronics enterprises should be more active in the joint venture or association to become satellite companies to the international electronics groups for sustainable growth,” Former Deputy Minister of Planning and Investment Prof. Nguyen Mai said.|
According to General Director of Nokia Vietnam Ivan Herd, the plant is using materials supplied by 10 electronic suppliers around the country.
“Domestic electronics companies should try to participate in the supply chain of well-branded corporations and the global market to improve production, master technology, and increase localization rate. Specifically, domestic electronics companies have to develop strategies for long-term investment, human resources, and access to new technologies,” Le Ngoc Son said.
According to Deputy Director of Ministry of Industry and Trade’s Department of Heavy Industry Truong Thanh Hoai, the long term development of Vietnam’s electronics industry require practical policies, developed links between Vietnamese manufacturers with FDI enterprises, and support industry development.