In a newly published article, the British investment magazine Moneyweek writes that ‘Made in Vietnam’ products confirm their position in the global market.
According to Moneyweek, many multinational companies, especially in the electronics field, generally consider that the product is made in Vietnam as a guarantee of quality. Vietnam is becoming the world’s electronics manufacturing base while China – which has always occupied the position of the global manufacturing factory – is being challenged due to its “Zero COVID” strategy.
After a string of Apple’s largest assembly suppliers moved the production chain of products such as AirPods and iPad to Vietnam, it was Xiaomi’s turn – one of China’s leading electronics manufacturers to take a similar step, moving part of the factory line to Vietnam.
In mid-July, this company officially announced that it would start selling “Made in Vietnam” phone products on the market.
The quality of electronic products manufactured in the factory in Vietnam, labeled “Made in Vietnam”, is very good. They will be sold not only in Vietnam, but also in Southeast Asia. And we will not only produce smartphones in Vietnam, but also other smart electronic devices… such as products that combine both artificial intelligence and IoT,” said Mr. KM Leong – General Manager of Southeast Asia of Xiaomi International.
According to Moneyweek, “Made in Vietnam” products are confirming their position in the global market.
Or as Compal, the world’s second largest computer assembly company from Taiwan (China), revealed that it plans to expand its production base in Vietnam to meet the increasing number of orders from international customers.
The wave of investment shifting from China to Vietnam is a hot topic in many international forums. Most analysts say it’s understandable that Vietnam is growing into one of the world’s electronics manufacturing sites. For the trend of factory relocation will take place when the manufacturing industry in a country reaches a certain stage of development.
According to Ngo Dang Khoa – Head of Foreign Exchange, Capital Markets and Securities Services Division, HSBC Vietnam, Vietnam has transformed and become an electronics manufacturing center in Southeast Asia thanks to the influx of FDI in the technology sector. The government has a favorable and friendly policy of attracting foreign investors. Recently, Samsung invested in a research and development center (R&D) in Vietnam with a total investment of approximately USD 800 million. This is one of the largest R&D centers in Southeast Asia. Therefore, “Made in Vietnam” electronic products will be more competitive.
Meanwhile, according to Mr. Alain Cany – President of the European Business Association in Vietnam, Vietnam is one of the leading countries in software development in the world, just behind India.
“We believe that with transparent policies and high-quality human resources, Vietnam will become one of the successful countries in the development of the digital economy. And it will promote cost savings for foreign direct investment in Vietnam,” said Mr. Alan Cany.
And to increase the attractiveness of foreign investment projects using new and advanced technologies; Connecting global manufacturing and supply chains, the Prime Minister approved the Foreign Investment Cooperation Strategy for 2021-2030 last June. 9 groups of solutions were given and received a lot of appreciation.
FDI enterprises believe that the emergence of electronic products “Made in Vietnam” will be a good motivation for all of Southeast Asia, when this region is predicted to be a “magnet” for electronic products in the world in the near future .
@ cafefu
