With the emergence of a domestic component ecosystem, India is positioning itself as a crucial electronic manufacturing hub. Industry analysts project that the country could reach its component export target of 35-40 billion USD by 2030.
In October 2024, Indonesia banned the iPhone 16 after Apple failed to meet requirements that smartphones sold domestically should comprise 40% locally-made parts.
As an investment attraction of numerous leading technology corporations, Vietnam sees many opportunities to attract foreign direct investment (FDI) into electronic components manufacturing.
Indonesian Deputy Minister of Industry Faisol Riza said at a press conference on the sidelines of an event on November 6 that he has heard about Apple's plan to invest 10 million USD in Indonesia and hoped that this commitment will be fulfilled. However, the plan is still subject to further discussion.
The US-based global technology corporation Apple is still committed to actualising its plan on placing capital in Indonesia, the country’s Minister of Industry Agus Gumiwang Kartasasmita said on May 3.
CEO of US-based tech giant Apple, Tim Cook, is paying a two-day visit to Vietnam, starting on April 15. The event has become a highlight of the international media.
Vietnam is emerging as an important market for Apple. In recent years, the US tech giant has invested in building resemble lines in Vietnam for AirPods, MacBooks, Apple Watches, and iPads. The tech group is also increasing its presence in the country with the opening of online stores and the Vietnam first-visit of CEO Tim Cook.
As one of the fastest growing markets in Asia, Vietnam has captured the attention of supporting industry giants worldwide. Some have recently unveiled their strategies to venture into the Vietnamese market.
Boeing is committed to building an aviation ecosystem in Vietnam, concentrating on developing aviation infrastructure, training human resources, and building airports and airplane maintenance and repair establishments, Dr. Brendan Nelson, Senior Vice President of the US-based Boeing Company told President Vo Van Thuong.
Among the 1,300 European businesses inquiring about the investment climate in Vietnam, up to 63% listed the country among the top 10 destinations for foreign direct investment firms.
Foreign service providers paid more than 9 trillion VND (367.15 million USD) in tax through the online portal serving taxpayers engaging in e-commerce and business activities in the first nine months of this year, according to the General Department of Taxation.
Experts have called for policies to support investment in high technology, which they said will help Vietnam grasp the opportunities in luring foreign direct investment (FDI) and at the same time avoid becoming the venue of low-quality and small-scale projects.
The digital payment system, Apple Pay, developed by Apple, has expanded its reach to Vietnam, making it the third nation in Southeast Asia to support this service, following Malaysia and Singapore.
Vietnam spent over 21.1 billion USD importing mobile phones and components last year, a decrease of 1.6% from 2021, accounting for 5.9% of the country’s total import turnover.
Representatives of more than 50 US companies will visit Vietnam from March 21-22 to discuss investment and business opportunities under an annual programme hosted by the US-ASEAN Business Council.
Vietnam is an important partner of the Republic of Korea (RoK), with more than 200,000 Koreans living in the Southeast Asian country from which a large amount of trade surplus was generated in 2022, Korean broadcaster KBS underlined in an article published on January 24.
In continuation of moving their production hubs, this year many of the giants in the world of technology and electronics have announced business expansion plans in Vietnam.
Nikkei Asia has reported that tech giant Apple plans to move some MacBook production to Vietnam for the first time next year as the group continues diversifying its production base.
