Electronic Exports to Surge 59.1% On-year in 2008

Vietnam is trying to export $3.5 billion worth of electronics and computer parts this year, an on-year increase of 59.1%. The growth target is said to be relatively high but it is quite reachable, said Tran Quang Hung, general secretary of Vietnam Electronic Enterprises Association.

 

Hung is upbeat about this figure as he said electronics and computer parts have been put in the list of commodities of the $1 billion club for four times since 2004.

 

Vietnamese electronic exports reached $2.2 billion in 2007 from $20,000 in 1996. The number of electronic enterprises has now risen to 300.

 

The association said Vietnam’s electronic sector is now having advantages in attracting foreign investment, adding that since the country’s WTO membership, foreign companies have invested a total of $3 billion in the industry.

 

More electronic companies of Taiwan, Japan and South Korea are coming to Vietnam to seek investment opportunities and many big projects will be licensed in coming time, it said.

 

In addition, many foreign investors are planning to shift their electronic manufacturing bases from China and other ASEAN countries to Vietnam. The trend has proved the attraction of the Southeast Asian country’s investment environment. (Trade)