Telecommunications equipment manufactured at VNPT Technology. The foreign direct investment into electronics should aim to promote local companies and enable them to engage in the global value chain. (Photo: nhandan.com.vn) — Foreign direct investment (FDI) into electronics should aim to promote local companies and enable them to engage in the global value chain, industry insiders have said. Truong Thi Chi Binh, Deputy President of the Vietnam Association of Supporting Industries, said the FDI wave into Vietnam had brought significant opportunities for domestic producers to participate in FDI companies’ supply chains. However, the fact was that most domestic companies were of small scale and poor capacity and few could meet the requirements of big corporations, Binh said. The production cost of electronic components of Vietnam was often higher than in China and Thailand. Binh said a large number of FDI investors came to Vietnam to enjoy preferential policies in investment attraction and from free trade agreements, adding that the supporting industry in general and the electronics industry in particular struggled to take advantage of opportunities from FDI inflow. Do Thi Thuy Huong from the Vietnam Electronic Industries Association said electronic industry development required a huge investment in technology and high-quality labour. Luu Hai… Read full this story
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