Electronics

Manufacturing has been identified as the growth engine of Vietnam’s economy, but the added value from the industry dropped sharply after the pandemic. While in 2019, the added value increased by 8.86 per cent compared to 2018, it only increased by 3.36 per cent in 2020 and 4.82 per cent in 2021, according to the General Statistics Office of Vietnam. Vietnam’s supporting industries seeking incentives - illustration photo Tran Thi Thu Trang, director of Hanel Import-Export JSC, found the current processes tough, especially when it comes to being one step ahead to capture customer needs and orders. “If you miss a beat, you are going to be 1-2 years behind in joining the global supply chain,” Trang said. “The enterprise’s capital has been poured into investment in machinery and equipment and needs support to invest in modern technology to make products more competitive. But currently, the state does not offer specific incentives for enterprises to invest in smart equipment … [Read more...] about Vietnam’s supporting industries seeking incentives

Without mutual support, domestic manufacturers continue to wait for market capacity to be large enough to accept competition with suppliers from outside. With the right incentives, localisation is expected to boost manufacturing nationwide As many final consumer products require a series of manufacturing processes, when mass producing, one cannot do it all by themselves. This is how new supply chains are formed, however, without the concept of supporting or ancillary industries. Within the motorbike market, each year Vietnam consumes nearly three million units. Such output is very attractive for manufacturers, who easily achieve efficiency brought about by mass production. When implementing localisation, it is not difficult to attract suppliers whose supply chain is specialised and professional at each stage. The supply chain is formed by the needs and advantages of the market, without requiring a policy for the development of the supporting industry. Meanwhile, … [Read more...] about The new face of manufacturing supporting industries

Late last month, FPT Semiconductor officially launched the first line of integrated circuit (IC) chips used in Internet of Things (IoT) products for the medical field. The ICs, which are designed in Vietnam and manufactured in South Korea, will be delivered to customers and current strategic partners in Australia, Taiwan, and China. Next year, FPT Semiconductor plans to supply 25 million chips globally in seven types to meet diverse needs in telecommunications, IoT, automotive technology, energy, electronics, and others. Vietnam picking up slack as hub for chips - illustration photo The chipmaker intends to deploy and supply Vietnamese chips to domestic corporations to develop sustainably and contribute to completing the supply chain of manufacturing equipment for users in Vietnam between 2023 and 2025. According to a Technavio report, Vietnam’s semiconductor industry is estimated to exceed $6.16 billion by 2024. According to US-based technological research and … [Read more...] about Vietnam picking up slack as hub for chips