Vietnam forcasted bright future
for Electric Equipment sector

Vietnam is estimated to use VND136 trillion ($7.2 billion) for electric equipment production in the next five years, said the Ministry of Industry and Trade.

The investment is expected to reach 70% of the domestic demand for electric wires and transformer stations, as well as satisfy 55% of the local need for electric motors and dynamos by 2015.

Last year, the Japan International Cooperation Agency (JICA) signed a deal to fund JPY350 million ($3.98 million) for a project to improve the quality of electric equipment in Vietnam. The 3.5-year project will be kicked off in November, 2011.

To ensure the industry’s productivity and technologies will be on a par with regional standards, VND136 trillion will be required, according to Hoang Thai An, chairman of the Viet Nam Electrotechnical Industry Association (Velina).

He said that in recent years the industry has achieved some success, with an increasing number of companies capable of manufacturing electric motors, low – and medium-voltage instruments, and insulation porcelain.

Vietnamese electrical equipment are also becoming popular in international market, with transformers being exported to the Middle East, Japan, and Africa, insulation porcelain to the US and the Middle East, and compact fluorescent lamps and wires to Latin America, the Middle East, Myanmar, and the Philippines.

Samsung Targets Export Revenues
of $1.5B in Vietnam This Year

Samsung Electronics Vietnam targets export revenues of $1.5 billion this year to top among foreign-invested firms in the country, said the company’s General Director Yoo Young Bok at a meeting with Deputy Prime Minister Nguyen Thien Nhan on April 12.

Samsung has generated 720 jobs and attracted 15 satellite electronics component projects, Yoo added, noting that his company is the only firm in Yen Phong Industrial Park which provides accommodation for workers.

However, Samsung is facing a labor shortage to meet the set goal of producing three million mobile phones per month at present and six million from October, the general director highlighted.

Samsung Electronics Vietnam opened a $670-million mobile phone plant in Yen Phong Industrial Park last October. Up to 90% of the products will be exported, mainly to Southeast Asia, Central Asia and Africa markets. (chinhphu.vn, VoV)

Vietnam Jan-Apr Computers,
Electronics Products Imports +53.1%
to US$1.35B

Vietnam has spent US$1.35 billion on imports of computers, electronics products and spare parts in the first fourth of this year, up 43.7% from a year earlier, the government’s General Statistics Office (GSO) estimated.

In April, the country imported US$370 million of the products, up 3.06% on-month and 80.48% on-year, respectively.

Between January and April, the country earned US$985 million from exporting computers, electronic products and spare parts, up 39.1% on-year. (GSO)