With the current order situation and looking at the acceleration of import and export of goods (10 months reached 647.91 billion USD, up 15.8%), in the whole year of 2024, Vietnam is likely to reach a record of 800 billion USD in import and export, far exceeding the record import and export of 732 billion USD in 2022.
Despite positive export results, according to Ms. Do Thi Thuy Huong, Executive Committee Member of the Vietnam Electronics Business Association, Vietnamese enterprises mainly participate in the assembly segment, so the added value is still low, about 5-10% of total export turnover, and they cannot participate in segments that bring high added value such as research and development (R&D), design, and distribution.
The reason is that domestic enterprises are often small and medium-sized, lacking capital to expand production, capital to invest in modern technological equipment to increase productivity and product quality. In addition, the problem of human resources, especially management and production operations human resources, is still weak, most of them still have to hire foreigners.
Meanwhile, the policy to support the electronics industry is currently only Decree 111, so it is still limited in development. The Ministry of Industry and Trade is drafting a draft on Key Industries, in which supporting industries are included as one of the important and central items of the development strategy for the next period.
"Therefore, I hope the Law on Supporting Industry will be issued soon so that the industry, especially the electronics industry, can develop and soon participate deeply in the global supply chain," said Ms. Huong.
