Electronics firms see huge opportunities for success
Companies operating in the electronics industry have tremendous
opportunities to carve out their own specific niche in the global
marketplace and thrive, said economists at a seminar in Ho Chi Minh City
on July 30, radio The Voice of Vietnam (VOV) reported.
Companies operating in the electronics industry have tremendous
opportunities to carve out their own specific niche in the global
marketplace and thrive, said economists at a seminar in Ho Chi Minh City
on July 30, radio The Voice of Vietnam (VOV) reported.
“Five years after making the decision to open its retail market in line with World Trade Organization (WTO) commitments, the electronics industry is finally seeing light at the end of the tunnel, said Pham Ngoc Hung, Vice Chairman of HCM City Union of Business Associations (HUBA).
The increased economic prospects for global integration are brought about by free trade agreements under negotiation, most particularly the Trans-Pacific Partnership (TPP), he shared.
Vietnamese companies, especially electrical and electronics firms, should not take anything for granted, however, and should make every effort to meet or exceed international standards for technical safety, and certificate of origin (C/O), he said.
Echoing Hung’s view, Stanley Ong, Assistant Vice President at TUV SUD ASEAN added that many countries around the globe are actively turning to more environmentally friendly sustainable development, and Vietnamese companies should seize the opportunity to play a global leadership role in the development.
“The electronics sector should invest heavily in research and development to ensure their products comply with the strictest of international standards applying the latest in scientific and technological advancements,” Ong said.
Finally yet most importantly, Vietnamese electronics firms should fully develop a marketing strategy touting the environmentally friendly attributes of their products and certificate of origin (C/O), specifically targeting stimulating exports to the demanding markets, Ong said.
Economists at the seminar were in general agreement that such a marketing strategy would help electronics firms increase their product value, improve competition and win consumer trust along with instilling confidence in the quality Made-in-Vietnam brand in the global marketplace.-VNA
“Five years after making the decision to open its retail market in line with World Trade Organization (WTO) commitments, the electronics industry is finally seeing light at the end of the tunnel, said Pham Ngoc Hung, Vice Chairman of HCM City Union of Business Associations (HUBA).
The increased economic prospects for global integration are brought about by free trade agreements under negotiation, most particularly the Trans-Pacific Partnership (TPP), he shared.
Vietnamese companies, especially electrical and electronics firms, should not take anything for granted, however, and should make every effort to meet or exceed international standards for technical safety, and certificate of origin (C/O), he said.
Echoing Hung’s view, Stanley Ong, Assistant Vice President at TUV SUD ASEAN added that many countries around the globe are actively turning to more environmentally friendly sustainable development, and Vietnamese companies should seize the opportunity to play a global leadership role in the development.
“The electronics sector should invest heavily in research and development to ensure their products comply with the strictest of international standards applying the latest in scientific and technological advancements,” Ong said.
Finally yet most importantly, Vietnamese electronics firms should fully develop a marketing strategy touting the environmentally friendly attributes of their products and certificate of origin (C/O), specifically targeting stimulating exports to the demanding markets, Ong said.
Economists at the seminar were in general agreement that such a marketing strategy would help electronics firms increase their product value, improve competition and win consumer trust along with instilling confidence in the quality Made-in-Vietnam brand in the global marketplace.-VNA
You should also see
Youths' efforts yield socio-economic fruits
Many activities were carried out across the nation during the Vietnam’s Youth Month, an annual festivity taking place in March to celebrate the establishment of the Ho Chi Minh Communist Youth Union (HCYU), contributing to the nation’s socio-economic development, heard a conference held by the union's Central Committee in Hanoi on April 23.
See more
Business
3,400 taels of SJC-branded gold bars successfully auctioned
The State Bank of Vietnam auctioned 16,800 taels of SJC-branded gold bars in Hanoi on April 23. This is the first auction of this kind in 11 years.
Business
HCM City seeks to draw remittances in infrastructure
A seminar aimed at channeling overseas remittances into infrastructure took place in Ho Chi Minh City on April 23, given that remittances to the city reached 9.46 billion USD in 2023, nearly three times higher than foreign direct investment (FDI), according to official statistics.
Sci-Tech
FPT, NVIDIA ink MoU to build 200 million USD AI factory
Vietnam’s tech giant FPT plans to build a 200 million USD artificial intelligence (AI) factory using Nvidia's graphics chips and software, as announced on April 23 in a comprehensive strategic partnership with NVIDIA.
Business
Lao Cai province calls for more Japanese investments
The advantages and potential of Vietnam’s northern border province of Lao Cai were introduced to Japanese firms at an investment and tourism promotion conference in Tokyo on April 23.
Business
Vietnam’s economy shows gradual recovery: WB’s report
Vietnam's economy is showing mixed signs of recovery in early 2024, with growth forecast to reach 5.5% in 2024 and gradually rise to 6.0% by 2025, according to the latest World Bank Taking Stock bi-annual economic update released on April 23.
