Foreign investment continues to flow into high-tech electronics

In recent times, investment projects in the manufacture of high-tech electronic products have accelerated in Vietnam, according to the Foreign Investment Department of the Ministry of Planning and Investment.

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Many projects such as Samsung Electro-mechanics Vietnam have announced fundraising.

Photo: VNA/CVN

Many projects have announced fundraising: Samsung Electro-mechanics Vietnam (in Thai Nguyên) raised 920 million USD; electronics, network equipment and multimedia audio products factories (in Bac Ninh, Nghê An and Hai Phong), USD 306 million, USD 260 million and USD 127 million respectively; the electronic components factory (Phu Tho), of 163 million USD…

According to the Ministry of Planning and Investment, foreign direct investment (FDI) last year amounted to 38.85 billion USD, up 25.2% year on year. A high-tech project worth more than 3 billion USD has contributed significantly to increasing investment capital in this sector, confirming the trend of foreign investors to choose Vietnam as a production location.

During his recent visit to the United States, Prime Minister Pham Minh Chinh met with the leaders of major companies, including famous names in high technologies such as Intel, Apple and Google. These companies claim that they “aim” all of Vietnam.

Intel has completed the first phase investments and is preparing for the next phase. And Apple CEO Tim Cook also wants to expand his supply chain into the Vietnamese market. Once Apple decides that, it is possible that Foxconn, Goertek, Pegatron, Winston… companies outsourcing products for Apple, will continue to expand their investments in Vietnam.

Currently, although Apple does not have a direct manufacturing plant in Vietnam, 31 factories of its partners produce equipment in 14 provinces and cities of the country, with approximately 160,000 employees. If Apple continues to choose Vietnam, this number will continue to increase.

CPV/VNA/CVN

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