(VOVWORLD) - Since the COVID-19 pandemic, Vietnam's electronics industry has changed rapidly with the increasing demand for lean production to reduce costs, save energy, and optimize production operations. Vietnamese businesses have done their utmost to find effective development directions to expand markets, access international business opportunities, and participate in the global supply chain.
 Vu Trong Tai, General Manager of RX Tradex (Photo: nguonluc.com.vn) |
According to the Ministry of Planning and Investment, nearly 580 new projects have been granted investment registration certificates so far this year. Foreign investors have invested in 18 of Vietnam’s 21 economic sectors. Many of the projects are in the electronics industry.
With large corporations like Foxconn, Samsung, and Apple beginning to manufacture products in Vietnam, the domestic electronics industry will have better opportunities to participate in the global supply chain.
The Vietnam Electronic Forum 2022 was held in the middle of September within the framework of the NEPCON Vietnam international electronics exhibition.
Vu Trong Tai, General Manager of RX Tradex, the exhibition organizer, said, “NEPCON Vietnam 2022 is part of a series of global exhibitions in the electronics manufacturing industry and offers an overview of technological equipment, the latest technologies, and the latest trends.”
“The forum is a place for sellers and buyers to meet and discuss new technology and global trends. Before adopting a new technology, of course, a business must consider whether the equipment is a long-term investment and can improve productivity and quality, thus helping it compete better in the global market. Managing market information is very important. That’s why NEPCON is so useful,” Tai explained.
Economists say that, following the pandemic, Vietnam's electronics industry needs breakthrough solutions and ideas to adapt to the growing demand for lean production to help businesses, especially SMEs, reduce costs and optimize production operations.
Several large enterprises have shifted their production to Vietnam. Investors from Taiwan (China) have sought opportunities to connect with Vietnamese enterprises.
Last month Boeing held the Boeing Aerospace Industry Forum, aimed at establishing an ecosystem of component suppliers, in Vietnam, opening up new opportunities for Vietnam to make high-tech electronics products.
Because of changes in capital flow, Vietnamese enterprises will have new opportunities to expand production and find new partners and customers.
 Do Thi Thuy Huong of the Vietnam Electronic Industries Association (Photo: nguonluc.com.vn) |
According to Do Thi Thuy Huong of the Vietnam Electronic Industries Association, “Most Vietnamese manufacturers in the electronics supply chain are small or medium-sized enterprises who find it difficult to keep up with costly new technology and need support from the State to secure credit.”
“They also need government support in developing human resources to keep up with the Fourth Industrial Revolution,” said Huong.
Most of the recent investment projects in Vietnam have focused on electronics and IT. This has given Vietnamese electronics businesses opportunities to learn new market trends, new techniques, new technologies, and connect with potential partners worldwide.