VietNamNet Bridge – The
exports by foreign invested enterprises (FIEs) always account for the big
proportions in the total export turnover. However, this is not an integral joy.
By June 15, 2012, the export turnover of mobile phone
products and mobile phone parts gained by FIEs had reached 4.322 billion
dollars, according to the General Department of Customs. The figure represents
the sharp increase of 126 percent, or 2.41 billion dollars in comparison with
that of the last year. With the big achievements, mobile phone remains the
second most important export item for Vietnam.
Samsung Electronics Vietnam (SEV) has been well-known as
the biggest exporter in the mobile phone sector. In 2011, SEV exported 6.1
billion dollars. Meanwhile, it has exported four billion dollars so far this
year.
A senior executive of SEV has affirmed that the company
would maintain the high export growth rate in the time to come, because Galaxy
SIII, the key product of Samsung, which has been catching the special attention
of the global market, has also been made in SEV’s factory in Bac Ninh province.
Kim Yong Seok, Planning Director of Samsung Complex, said
he hopes the export turnover would reach 10 billion dollars this year.
Meanwhile, Samsung Vina – a “brother” of SEV, also
obtained the export turnover of 80 million dollars, making a contribution to
the FIEs’ total export turnover of 26.2 billion dollars by June 15, 2012, an
increase of 43.6 percent in comparison with the same period of the last year, accounting
for 54.3 percent of the total export turnover of the whole country (48.235
billion dollars).
Highly appreciating the achievements by FIEs, stressing
that the majority of FIEs’ exports are manufacturing and hi-tech products, Dr
Nguyen Mai, Deputy Chair of the State Committee for Cooperation and Investment,
said this should be seen as a good thing.
“This shows that Vietnam has been following the right way
when attracting foreign direct investment,” Mai said.
Right from the very beginning when Vietnam started to
attract FDI, we set up the goal of boosting exports, especially manufacturing
and high technology products,” he continued.
The annual statistics show the increasingly big role of
FIEs in boosting exports. In the first months of the year, when the export by
domestic enterprises slowed down, FIEs still witnessed an impressive growth
rate. Not only mobile phones--other high technology products were also exported
in big quantities. Computers, electronics and electronic parts had brought the
turnover of 3.064 billion dollars by June 15.
Besides Samsung, Intel and Canon were also the big
exporters. According to the Ministry of Industry and Trade, Canon Vietnam,
which has branches in Hanoi and Bac Ninh, exported 1.5 billion dollars worth of
products. Meanwhile, Intel Vietnam’s export turnover was 462 million dollars.
Vietnam has every reason to hope that the hi-tech exports
would increase further in the time to come, when Nokia’s mobile phone factory
becomes operational, slated for 2013. Meanwhile, other foreign investors such
as Wintek and Kyocera, have also been planning to expand their business in
Vietnam.
More importantly, once Samsung, Intel or Canon export
products to the world market, the name of Vietnam has been added into
multinational groups’ global production chains.
However, analysts have pointed out that while FIEs
obtained big export turnover, they had to pay big money for imports. According
to the General Department of Customs, the import turnover by FIEs by June 15
had climbed to 25.3 billion dollars, up by 25 percent over the same period of
the last year, accounting for 51.9 percent of the total import turnover.
“It is necessary to calculate how high the added value
created in Vietnam in the production chain,” Mai commented.
However, Mai said, FIEs should not be blamed for the high
imports. The foreign manufacturers really want to increase the locally made
content ratio in products, but this remains impossible due to the weak
supporting industries in Veitnam.
Kim Yong Seok from SEV also said that the localization
ratio at SEV is just 20 percent.
Source: TBKTVN
Business & Investment Opportunities
YourVietnamExpert is a division of Saigon Business Corporation Pte Ltd, Incorporated in Singapore since 1994. As Your Business Companion, we propose a range of services in Strategy, Investment and Management, focusing Healthcare and Life Science with expertise in ASEAN. We also propose Higher Education, as a bridge between educational structures and industries, by supporting international programmes. Many thanks for visiting www.yourvietnamexpert.com and/or contacting us at contact@yourvietnamexpert.com
No comments:
Post a Comment