Hanoi (VNA) – Local electronic firms have been urged to
enhance compliance with established regulations, especially international
labour standards, in order to improve competitiveness and to engage in the
global supply chain, heard a conference on August 1.
The conference was jointly held by the Vietnam Chamber of Commerce
and Industry (VCCI) and the International Labour Organisation to promote law
compliance across the electronics sector supply chain.
The VCCI said that multinational groups and electronics suppliers
must co-operate and exchange experiences to promote application of
international labour standards at local firms.
The VCCI promised to develop support programmes with aims to
improve productivity, reduce risks which might arise from labour disputes and
enhance businesses’ reputations.
Specially, Vietnam must create policies that promote the
development of the electronics industry into a spearhead sector of the economy.
Electronics were major export products of Vietnam which earned revenue
of 18.96 billion USD in 2016, representing a rise of 21.5 percent over the
Latest updates from the General Statistics Office show that
exports of electronic products reached 13.6 billion USD in the first seven
months of this year, rising by 43.3 percent over the same period last year.
Major import markets include the US, EU and China.
Experts, however, say that the Vietnamese electronics industry is
largely dependent on foreign-invested firms, while the cooperation between
local and foreign firms remains loose.
Vietnam is promoting the development of support industries,
including electronics components, with an aim to meet 60 percent of the market
demand by 2020 and 80 percent by 2030.-VNA