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Electronic industry in Vietnam attracts foreign investors

Thu, 26 Jun 2014. Last updated Wed, 17 Sep 2014 17:42

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According to Mr. Adam See, the Chairman of AIES (the Association of Electronic Industries in Singapore), the development of Electronic industry in Vietnam will be a phenomenon in the next years.

Reed Tradex Company is an enterprise often organizes exhibitions of technologies, machines, equipments and ancillary industries specializing in metal and METALEX Vietnam. Besides, the company also holds displays of SMT technology and inspection technology, supporting equipments and industries for electronic manufacturing industry and NEPCON Vietnam. Mr. Duangdej Yuaikwarmdee, the Deputy Director of Reed Tradex predicted that FDI in Vietnam may significantly grow in 2014. This growth will accelerate more than Vietnam economy growth rate, which may lead to double economic growth.

 

Nokia factory in Bac Ninh

 

According to Mr. Duangdej Yuaikwarmdee, foreign producers and investors find the appeal of low-cost, large domestic market in Vietnam, therefore, they has planned a long term investment despite the challenge of the economic structure. For example, Korean Samsung Company signed a contract to construct the second factories (with the value of 2 billion dollars) in Vietnam. It is estimated to reach a capacity of 120 million equipments, which is double to the current capacity in Vietnam. Besides, other electronic companies have continued to implement investment in Vietnam. For instance, Nokia launched the first factory in Vietnam (300 million dollars). It is expected to create 10,000 jobs and produce 45 million handsets per quarter. In addition, a producer of printers and copiers, Fuji Xerox, also built a factory with 90.2 million dollars in Hai Phong. This is the first Japanese factory in ASEAN countries to meet the rising demands. This will promote exports of electronic products, especially mobile phones, which have increased significantly in recent years and accounted for 24.5% of the total export turnover of Vietnam.

 

Signing ceremony in NEPCON Vietnam 2014

 

“The objective to double the export volume of Vietnam electronics in 2017 could be reached. However, to increase the number of companies which can export to foreign market, especially with Vietnam brands, is a big challenge. Hence, domestic enterprises need more efforts. The sharply growth in producing electronics has created a lot of chances for small companies to provide their equipments or services to the big ones. This is a good sign and also good opportunity for Vietnam electronic industry.”, Mr. Duangdej Yuaikwarmdee also added.

Besides, Mr. Adam See said an exhibition of “NEPCON Vietnam 2014” is a great opportunity for Vietnam industry to find suitable technologies and enhance productivity. In this exhibition, 60 members from 16 leading companies will introduce advanced manufacturing technologies, components, and accessories for electronic assembly industry. In addition, Ms. Wendy Trang, the General Director of Vietnam Ito Company shared: “Vietnam electronic industry will continue to develop and be a positive sign for foreigner investors this year. In recent times, Ito Vietnam is successful providing equipments with factor price and high productivity to this industry. In NEPCON Vietnam 2014 Exhibition, we will attract electronic industries by ACF technology, dispensing technology and welding technology which is suitable for small and medium enterprises”.

From October 9 to October 11, 2014 in Ho Chi Minh City, NEPCON Vietnam exhibition will welcome 200 electronic brands from 20 nations and 10,000 manufacturers, engineers, manufacturing managers … from all over the world.

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