Business

HCM City’s electronics industry sees significant growth

The production index of electronic goods for the first 10 months of the year increased by more than 17 percent year-on-year, according to the HCM City Department of Industry and Trade.
HCM City’s electronics industry sees significant growth ảnh 1The electronics production industry in HCM City has seen significant growth, according to the HCM City Department of Industry and Trade (Photo: VNA)

HCM City (VNA)  –  The production index of the electronics industry for the first 10 months of the year increased by more than 17 percentyear-on-year, according to the HCM City Department of Industry and Trade.

The overall industrial productionindex (IIP) of the city rose by 7.85 percent.

The department attributed the growthto a stable consumption market and more investment in semiconductors, chiptechnology, and electronic boards.

Export turnover of computers,electronic products and components within the first 10 months reached 7.94billion USD, up 17.6 percent year-on-year, accounting for more than 30 percentof total export value excluding crude oil.

To compete with imports, enterprisesin the field have invested in machinery and technology to produce products forsupporting industries.

Despite positive results, Tran QuangHa, deputy head of the Ministry of Industry and Trade’s Industry Department,said that the supply capacity of enterprises in supporting industries was stilllimited.

Of 200 suppliers for Samsung, only35 Vietnamese enterprises are level-1 suppliers, while the rest are mostlyforeign enterprises. Vietnamese enterprises mostly supplypackaging with simple details.

Le Nguyen Duy Oanh, deputy directorof the city’s Centre for Supporting Industry Development, stressed theimportance of encouraging supporting enterprises to be deeply involved in thesupply chain of FDI enterprises.

The city has created investmentstimulus programmes to help enterprises invest in modern machinery and equipment,expand production, and improve quality of products, among other benefits.

The city has also connectedenterprises with banks to resolve capital access for the industrial sector ingeneral and supporting industries in particular.

Enterprises in supporting industryhave been encouraged to take part in courses that train labourers and enhancetheir competitive advantage in the market.-VNA

VNA
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