Vietnam's electronic industry has attracted 10 billion USD in FDI capital from big names like Samsung, Foxconn, LG, Panasonic and Intel, according to the Foreign Investment Agency.
Employees at Korean invested Bluecom Vina Ltd work on a electronics chain in Trang Due Industrial Zone in Hai Phong. (Source :VNA)
Hanoi (VNA) – Vietnam's electronic industry haဣs attracted 10 billion USD in foreign direct investment (FDI) capital from big names like Samsung, Foxconn, LG, Panasonic and Intel, ac🐽cording to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment (MPI).
With the largest turnover and market share growth of electronic exports in ASEAN, Vietnam has grown to become the 12th largest electronics exporter in the world and the third largest in ASEAN.
Vietnam's electronics output ranked behind Thailand, Singapore and Malaysia in 2013.
Production bases have been shifting to Vietnam in recent years to take advantage of preferential tax deals under free trade agreements such as the TPP and AEC.
Accordingly, the rules of origin force investors who want to take advantage to further access ASEAN or TPP member markets to invest in Vietnam more intensively and transfer technology to achieve a higher localisation rate.
Attractive areas in Vietnam's electronics industry are large-scale mobile phone factories. Samsung alone has invested in a 2.5 billion USD factory in the northern province of Bac Ninh and a 2 billion USD facility in Thai Nguyen.
The group has also invested 1 billion USD on a manufacturing factory in HCM City.
The plant in Thai Nguyen has attracted satellite investors, and electronics component producers have invested hundreds of millions of dollars in Thai Nguyen province and Hai Phong city.
However, domestic electronics enterprises do not contribute much to the electronics supply chain.
Samsung Vietnam recently said that of the 80 satellite enterprises producing components and accessories, only 10 percent were Vietnamese.
These companies mainly provide printing and packaging, which have the lowest added value. Another problem is competing with other countries in the region, and investors may move to other countries when the investment incentive period ends.
To attract more FDI to the industry, the FIA recommends enterprises build science and technology policies to encourage technology transfer, training, research and development; sign technological cooperation contracts with large countries, connect research institutions and businesses and select products and sectors for research priority.
Intellectual property laws should also be tightened so that domestic and foreign investors feel secure about investing, transferring technology and developing products.-VNA
Samsung will research concrete measures to help develop Vietnam’s electronics industry, General Director of Samsung Electronics Vietnam Han Myoung-sup said at a seminar in Hanoi on July 15.
Vietnam's electronics sector is becoming a force in Asia. While electronics exports from Asia rose by 17 percent between 2010-14, Vietnam's contribution ballooned by about 10 times, according to Singapore-based DBS group research.
Foreign direct investment (FDI) accounted for most of the nation's total electronic export turnover, according to a report from the Vietnam Electronic Industries Association.
The “SEMI Vietnam Business Mission 2015” kicked off in Hanoi on September 22, bringing together experts to discuss different aspects of the microelectronics industry in Vietnam.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Employees at Korean invested Bluecom Vina Ltd work on a electronics chain in Trang Due Industrial Zone in Hai Phong. (Source :VNA)
