Foreign investment continues to flow into high-tech electronics | Economy

Hanoi (VNA) – 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.

Photo: Baodautu

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

According to the Ministry of Planning and Investment, foreign direct investment (FDI) last year amounted to 38.85 billion dollars, up 25.2% year on year. A high-tech project worth more than $3 billion 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 are all “targeting” 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/NAV

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