The number of workers in the electronics industry is on the rise, and e-businesses will be a critical source of employment in the future. However, up to 80 per cent of such firms say they find it difficult to recruit technicians. The statement was made by Dao Quang Vinh, director of the Institute of Labour Science and Social Affairs (ILSSA) at the Ministry of Labour, Invalids and Social Affairs (MoLISA), at a conference held in Ha Noi on Wednesday. In recent years, the electronics industry has grown rapidly and has become one of the most important sectors of Viet Nam’s economy. The growth rate of the electronics industry increased sharply from 7.4 per cent in 2011 to 32.5 per cent in 2015. The development of Viet Nam’s electronics industry is attributed to the large investments from multinational corporations, especially corporations from the Republic of Korea and Japan, in the field of manufacturing electronic components. According to Vinh, electronics is the largest export sector of Viet Nam. The sector’s export turnover has grown from US$22.9 billion in 2012 to more than $71 billion in 2017. It is now 2.5 times and five times greater than textiles and footwear sectors, respectively. Of the total, 95 per cent of the country’s electronic export turnover is due to foreign direct investment (FDI) enterprises. FDI enterprises also excel in terms of technology and labour footprint: the average number of employees at an FDI enterprise is 807 people, compared to 212 at State-owned enterprises and just… [Read full story]
This figure was reported by the Supporting Industry Enterprise Development Centre (SIDEC) under the Industrial Policy and Strategy Institute (IPSI), Ministry of Industry and Trade, in a survey released at the Workshop on Connectivity in Electronics Industry Development in Vietnam hosted by the Central Institute for Economic Management (CIEM) in Hanoi on November 28. 95 per cent of electronics exports come from FDI firms However, 95 per cent of electronics export value is contributed by FDI enterprises. In 2016, mobile phone and parts exports valued at more than US$34 billion, 99.8 per cent of which came from FDI enterprises. In 2017,…... [read more]
Sporadic manufacturing and businessAccording to the Central Institute of Economic Management (CIEM), since 2015, Vietnam has been the 12th-ranking electronic exporter over the world and the third-ranking in the ASEAN. The export turnover of the electronic sector shows significant results. It is expected to exceed US$70 billion in 2017 and enable Vietnam to become one of the largest countries exporting electronic products worldwide.Out of the ten largest electronic projects in Vietnam since 2003, Samsung ranks first with four manufacturing complexes and a total registered capital sum of over $17.3 billion, followed by projects of Inter, LG, Canon, Nokia, Panasonic, but…... [read more]
Many global brands had established their manufacturing bases in Vietnam to increase their manufacturing output in recent years, and international giants firm such as Samsung, Intel, Canon, Panasonic, Fujitsu, LG, Bosch and Nokia have invested billions of US dollars into the Vietnamese electronics industry. Foreign investors consider the developing the support industry as a very important factor in the sustainability of the electronic industry by sharpening the competitiveness of the sector. Mr. Ronnie Wong, COO of Association of Electronic Industries in Singapore (AEIS)said that Vietnam’s supporting industries are steadily growing with Electrical & Electronics industry being one of the prominent…... [read more]
The world’s leading electronics companies have strongly invested in the construction of manufacturing facilities in Vietnam, offering opportunities for domestic businesses to strengthen cooperation and participate in the global value chain. In the past, foreign investment capital into Vietnam’s electronics industry reached over US$10 billion with great projects of Samsung, Foxconn, LG, Panasonic and Intel, becoming an attractive destination for the world electronics companies. In 2013 the electronics industry’s export turnover reached about US$32.2 billion, up 57 percent year-on-year and ranked first among Vietnam’s export sectors, according to the General Statistics Office (GSO). Vietnam’s electronics industry has basically met domestic…... [read more]
The world's leading electronics companies have strongly invested in the construction of manufacturing facilities in Vietnam. Together with a strong growth, the electronics industry offers opportunities for domestic businesses to strengthen cooperation and participate in the global value chain, the Vietnam Economic News reported. According to experts, the world electronics market would strongly grow in the upcoming time with an average growth of 10-12 percent. Products are forecasted to strongly grow including digital devices, computers, especially tablets and mobile phones. In particular, digital devices predicted to grow by 15-18 percent. In addition, markets would pay special attention to medical electronic…... [read more]
