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Vietnam targets bigger electronics export next year

Vietnam has planned electronics export turnovers of $3.5 billion in 2008, up from estimated $2.2 billion in 2007 and $1.7 billion in 2006, a local industry official told Xinhua on Wednesday. Vietnam to host 1st int’l consumer electronics exhibition.

„The Ministry of Industry and Trade has set a target of posting electronics export turnovers of $3.5 billion in 2008. I think this target is completely attainable because Vietnam has recently attracted some mammoth foreign-invested electronics projects, and our human resources are very skillful and competitive,” said Tran Quang Hung, general secretary of the Vietnam Electronic Industries Association. The ministry estimated that Vietnam will earn $950 million from exporting electronic products and components, mainly produced by joint ventures, to other members of the Association of Southeast Asian Nations (ASEAN), mostly the Philippines, Malaysia and Indonesia, next year, up 40% from this year.

In 2008, Vietnam will also boost electronics export to other traditional markets, including Japan, China, South Korea and France. „Our association has predicted that the world’s electronics market will annually grow by 8-10% in the 2008-2010 period. The global demand for mobile phones and laptops will increase considerably,” he said. To gain bigger export revenues and maintain domestic market shares under pressure of regional tariff reduction roadmaps, electronic producers in Vietnam, many of whom are making electronic appliances under outsourcing contracts with foreign firms, should increase the added value in their products. The producers should either design their own product models, instead of relying on models supplied by the foreign firms, or strengthen production of components and spare parts for export, he said, noting that foreign-invested enterprises in Vietnam are doing that very well.

Vietnam will hold its first international consumer electronics exhibition and conference in Hanoi in April next year to mainly showcase the country’s information technology (IT) and electronics industry, one of the fastest-growing ones in Southeast Asia, organizers said Wednesday.

The Vietnam Consumer Electronics Expo 2008 slated for April 9-12, 2008 will offer venues for multinationals and big domestic IT, telecommunications and consumer electronics firms, including Intel, Canon, Panasonic, AMD and CMC to exhibit their latest audio, visual, imaging, handheld, network, gaming, wireless, hardware, and software products at over 200 booths, Mai Anh, vice chairman of Vietnam’s Hanoi Information and Communication Technology (ICT) Association, told reporters.

Besides, policy makers and experts will exchange experiences and views on international, regional and national development of ICT and electronics, he said, noting that delegations from such foreign countries as China, Japan, South Korea, India, Singapore, Thailand and Malaysia will partake in various activities during the expo. Le Thanh Lam, general director of International Data Group (IDG) in Vietnam, said a recent report of market research firm GfK Vietnam showed that the total value of the country’s retail IT and electronics market is estimated at $3.1 billion this year, up 29.2% over last year. The Vietnam Consumer Electronics Expo 2008 will be held by the Hanoi ICT Association and IDG Vietnam. (