Vietnam is predicted to need about US$2 billion from now to 2010 to develop the domestic electronic industry, of which up to 90 per cent is expected to come from foreign investors, according to Tran Quang Hung, general secretary of the Vietnam Electronic Enterprises Association.
According to Hung, in order to raise the competitiveness for the industry, especially when Vietnam becomes a full member of the world trade body WTO, Vietnam should attract foreign investment while paying due attention to producing supporting products such as spare parts and accessories at home.
Vietnam should develop the industry in Hanoi and its surrounding areas, HCM City, Dong Nai, Binh Duong, Danang, and Quang Nam, according to him.
The local electronic industry now reports an average growth rate of 20-30 per cent a year and its products are present in 35 countries and territories in the world, but the sector’s equipment and technology still lags behind the region and the world by 10-20 years.
It is now assembling products from imported components and starting to develop its supporting industry, while Thailand, Singapore, Malaysia, Indonesia, and the Philippine are studying designs of product, investing in hi-tech equipment, and boosting export. Civil electronic products account for 80 per cent of the output.
The reason behind the current situation, Hung said, is a lack of a specific development strategy for the industry and the State’s adequate investment.
The industry hopes to earn total revenues of US$6 billion in 2010, including US$5 billion from export, according to Hung.
Investment
Vietnamese
