Vietnam Eyes US$5 Bln Electronic Export by 2010
The Vietnamese prime minister has approved the master plan for the development of the electronics sector, targeting revenues of US$4 billion-US$6 billion by 2010, with US$3 billion-US$5 billion of that from exports, the Vietnam News Agency reported.
The industry, hoping an annual growth rate of 20 per cent-30 per cent beginning in 2010, will create 300,000 jobs nationwide, said the Vietnam Electronics Industry Association (VEIA).
To reach these targets, Vietnam will begin turning out more lucrative electronic items, including finished products and components and spare parts used in informatics, telecommunications, medical and industrial equipment, measurement and automation.
Meanwhile, the house-hold electronics sector will enhance its competitive edge by raising product quality and cutting production costs to reduce sale prices, VEIA says.
The electronics sector is set to earn US$3 billion in export turnover this year, up 22.7 per cent on-year, with 95 per cent of products made by foreign-invested enterprises.
Compared to other ASEAN countries such as Singapore, Malaysia and Thailand, whose electronics export turnovers for 2007 were US$50 billion, US$43 billion and US$41 billion, respectively, Vietnam’s turnover last year was the most modest. (VNA)
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