Vietnam has planned electronics export turnovers of 3.5 billion U.S. dollars in 2008, up from estimated 2.2 billion dollars in 2007 and 1.7 billion dollars in 2006, a local industry official told Xinhua on Wednesday.
"The Ministry of Industry and Trade has set a target of posting electronics export turnovers of 3.5 billion dollars in 2008. I think this target is completely attainable because Vietnam has recently attracted some mammoth foreign-invested electronics projects, and our human resources are very skillful and competitive," said Tran Quang Hung, general secretary of the Vietnam Electronic Industries Association.
The ministry estimated that Vietnam will earn 950 million dollars from exporting electronic products and components, mainly produced by joint ventures, to other members of the Association of Southeast Asian Nations (ASEAN), mostly the Philippines, Malaysia and Indonesia, next year, up 40 percent from this year.
In 2008, Vietnam will also boost electronics export to other traditional markets, including Japan, China, South Korea and France.
"Our association has predicted that the world's electronics market will annually grow by 8-10 percent in the 2008-2010 period. The global demand for mobile phones and laptops will increase considerably," he said.
To gain bigger export revenues and maintain domestic market shares under pressure of regional tariff reduction roadmaps, electronic producers in Vietnam, many of whom are making electronic appliances under outsourcing contracts with foreign firms, should increase the added value in their products.
The producers should either design their own product models, instead of relying on models supplied by the foreign firms, or strengthen production of components and spare parts for export, he said, noting that foreign-invested enterprises in Vietnam are doing that very well.
Source:Xinhua
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