Many large electronic companies are looking to Vietnam

Vietnam creates favorable basic conditions for the development of industrial parks and economic zones. With an increasingly sophisticated investment and trade environment and increasingly developed technical infrastructure, particularly interregional roads.

>>Foreign investment flows into Vietnam despite COVID-19

>>Vietnam remains attractive for electronics multinationals

>>Electronics: towards a breakthrough for national companies

Vietnam is currently the destination of many big companies such as Apple, Samsung, Canon, LG, Sumitomo, Foxconn…
Photo: VNA/CVN

Samsung Group will invest 3.3 billion USD in Vietnam this year and prepare conditions for a trial production of semiconductor chip gate products to start mass production from July 2023 (at Samsung Electro-Mechanics Vietnam factory, located in the province of Thai Nguyên, North).

Specifically, in July 2022, Samsung Electronics hosted the first delivery of 3-nanometer etched chips at a ceremony, a key milestone in the race to manufacture the most advanced and efficient chips to date. During his visit to Vietnam, the leader of the Samsung group also expressed his willingness to invest in the field of semiconductors, in addition to two other key products, mobile devices and household appliances, in order to perfect the supply chain. manufacturing in the field of electricity and electronics.

Bùi Kim Thùy – high representative of the US-ASEAN Business Council (USABC) – said that Apple has prepared the stages of production of input elements in Vietnam, which is of great interest to the business community. In addition to Apple, Bùi Kim Thùy said that many American companies also appreciate Vietnam’s policies to attract foreign direct investment.

Therefore, Boeing Group said there would be talks with authorities to hold a major business conference in August 2022, kicking off the campaign to turn Vietnam into an aviation hub of the region and develop support industry, serving the aerospace industry.

Along with Boeing, many other investors have also planned to put their capital into manufacturing semiconductor devices and components in Vietnam, such as: Amkor (Republic of Korea) with a USD 1.6 billion plan ; Hana Micron (Republic of Korea) with a 500 million USD investment project in Vietnam. There is also Renesas, Applied Micro, Splendid, Sonion… with small and medium scale projects.

Beautiful prospects

The trend of moving the supply chain is becoming more and more concrete.
Photo: VNA/CVN

Tran Quoc Phuong, vice minister of planning and investment, said Vietnam is laying the groundwork for the development of industrial parks and economic zones. Technical infrastructure; in particular interregional roads, in connection with international markets, have been modernized and developed, creating good conditions for production and commercial activities.

Still according to Deputy Minister Trân Quôc Phuong, the international position of Vietnam is in the process of rising; the export market is opening up through multilateral and bilateral free trade agreements and a workforce capable of responding effectively to changes in science and technology. Therefore, Vietnam is currently the destination of many big companies such as Apple, Samsung, Canon, LG, Sumitomo, Foxconn…

Do Thi Thuy Huong, vice president of Vietnam Supporting Industries Association (VASI), executive committee member of Vietnam Electronic Enterprise Association (VEIA), also said that the trend of shifting the chain of supply becomes more and more concrete. Major companies around the world have moved their factories and production lines from China to neighboring countries, and in particular to Vietnam.

Let’s take an example, Apple moved 11 factories from Taiwan (China) to Vietnam. At the same time, many other companies such as Foxconn, Luxshare, Pegatron, Wistron have also expanded their existing facilities in Vietnam. Samsung has built the group’s largest research and development center in Southeast Asia worth 220 million USD in Hanoi and also plans to continue expanding its factories in Bac Ninh, Thai Nguyên…

Xuan Loc/CVN

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