The 18th Annual World Electronics Forum (WEF 18) kicked off in Hanoi on May 14, drawing the participation of the world’s leading electronics industries, including the US, India, Japan, the Republic of Korea, China and Israel.
Addressing the opening ceremony, Deputy Prime Minister Nguyen Thien Nhan said that hosting WEF 18 in Vietnam is a chance for the country’s electronics businesses to update information, strengthen connectivity and expand cooperation with the world’s leading companies in the industry.
The three-day event will also help Vietnam prepare the best conditions in infrastructure, supporting policies and high-quality human resource to attract more investment in developing Vietnam’s electronics and high-technology sectors, Nhan said.
Since Vietnam entered the World Trade Organisation in 2007, the country has attracted a lot of big foreign-invested projects worth tens of billions of USD in the field with the participation of global names like Samsung, Intel Corp., and Taiwan (China)’s Foxconn and Compal Electronics.
Over the past years, the electronics sector has enjoyed strong developments and contributed significantly to Vietnam’s economy. In 2012, export turnover of electronic components and mobile phones reached 20 billion USD, accounting for the majority of Vietnam’s export turnover and much higher than the country’s leading exports like rice, coffee and garments.
The sector is striving for 40 billion USD in electronics and mobile phone exports by 2017, Nhan added, affirming that Vietnam hopes to cooperate with other countries to raise the quality of human resources in electronics and high technology, and pledges to support those that want to invest in the sector in Vietnam.
President of the US Consumer Electronics Association Gary Shapiro spoke of the development of Vietnam’s electronics industry, and affirmed US businesses’ determination to establish multinational companies in Vietnam, with the focus on manufacturing tablets, laptops, LCD televisions and connecting equipment.
According to President of the Vietnam Electronic Industries Association Le Ngoc Son, Vietnam’s electronics sector is facing big challenges as although the sector’s export turnover is very high, 90 percent goes to foreign-invested enterprises.
Therefore, Vietnam wants to continue receiving international support to expand its markets, improve human resources and competitiveness, and increase cooperation capacity to develop supporting industries and participate in the global supply chain, said Son.