Hanoi (VNA) – Local electronic firms have been urged toenhance compliance with established regulations, especially internationallabour standards, in order to improve competitiveness and to engage in theglobal supply chain, heard a conference on August 1.
The conference was jointly held by the Vietnam Chamber of Commerceand Industry (VCCI) and the International Labour Organisation to promote lawcompliance across the electronics sector supply chain.
The VCCI said that multinational groups and electronics suppliersmust co-operate and exchange experiences to promote application ofinternational labour standards at local firms.
The VCCI promised to develop support programmes with aims toimprove productivity, reduce risks which might arise from labour disputes andenhance businesses’ reputations.
Specially, Vietnam must create policies that promote thedevelopment of the electronics industry into a spearhead sector of the economy.
Electronics were major export products of Vietnam which earned revenueof 18.96 billion USD in 2016, representing a rise of 21.5 percent over theprevious year.
Latest updates from the General Statistics Office show thatexports of electronic products reached 13.6 billion USD in the first sevenmonths 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 islargely dependent on foreign-invested firms, while the cooperation betweenlocal 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 marketdemand by 2020 and 80 percent by 2030.-VNA
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