Electronics components being manufactured at 4P Limited Co in the northern province of Hung Yen (Photo: VNA)Amid the pandemic, the sector brought home 77.58 billion USD over the past ninemonths of 2021, statistics from the General Department of Customs showed.
Of this, the export of handsets and components contributed 41.02 billion USD,up 11.5 percent year-on-year. Among major export markets were China with aturnover of 9.8 billion USD, up 52 percent, the US with a value of 7.09 billionUSD, up 1.1 percent and the EU with 5.56 billion USD, down 18 percent.
Meanwhile, the export value of electronics, computers and components topped 36.56billion USD, surging 13.6 percent over the same period of last year with 9.3billion USD from exports to the US, up 26.5 percent; 7.8 billion USD fromChina, down 6.2 percent and 4.63 billion USD from the EU, up 7 percent.
As these positive nine-month figures show, the electronics industry was well ontrack to earn the country between 97 billion USD and 100 billion USD by the endof this year, compared to a turnover of 91.98 billion USD in 2020, Do Thi ThuyHuong, Executive Board Member of Vietnam Electronics Industries Association(VEIA) told Viet Nam News.
Huong said the electronics industry posted the highest import-export turnoverin the past 10 years. It also took the lead in export turnover among processingand manufacturing industries and accounts for 30-40 percent of national GDP inthe period.
Despite the challenges brought by the COVID-19 pandemic, the industry stillshowed positive signs over the nine-month period, Huong said.
She attributed the industry's export turnover growth in the period to anincrease in demand for communication products used for distance working andlearning such as mobile phones, computers, TVs and devices.
A number of companies that produced computer and electronics products in othercountries were forced to close down due to the impacts of the virus. That ledto local manufacturers winning more contracts, she said.
However, it could not be denied that the fourth wave of COVID-19 had impactedelectronics companies, especially those in the south and two northern provincesof Bac Giang and Bac Ninh, Huong told Viet Nam News.
She said her association would continue to support electronics enterprises inboth ensuring COVID-19 prevention and resuming their business operation.
Earlier in August, electronics businesses had sent eight recommendations toPrime Minister Pham Minh Chinh. They emphasised the importance of vaccinatingemployees of electronics enterprises as soon as possible.
Businesses petitioned the State to allow them to proactively draw up solutionsto ensure safe production during the pandemic and then register to thesesolutions with local authorities, instead of rigidly applying"three-on-the-spot" and “one road two places” models.
They also suggested the Government direct local governments and healthdepartments to unify medical guidelines on pandemic prevention. That would helppromptly separate F0 cases from businesses so that they could continue theirproduction activities.
Meanwhile, the firms also petitioned a 50 percent reduction for all types oftax such as value-added tax, corporate income tax, import tax and personalincome for employees, and a tax payment extension of between six to 12 months.
It has also been suggested that land rental fees, a burden on businesses, beslashed by 50 percent with the payment period extended by 12 months.
In its report, Fitch Solutions predicted that Vietnam’s consumer electronicsindustry would accelerate in 2021 on the back of a recovery in consumersentiment that occurs with the rollout of COVID-19 vaccines.
The industry will continue to grow through a combination of purchasing powerand demographic and economic modernisation that gave Vietnam a strong regionaloutlook, with vendors set to tap into an expanding middle class and flow offirst-time buyers./.
VNA
