Vietnam has witnessed export earnings of US$961 million in electronics products and computer components over the past 11 months, a year-on-year increase of 55.5% as source of the Ministry of Trade. Therefore, with an average export turnover of over US$80 million each month, Vietnam will likely achieve over US$1 billion in export turnover of electronics products out of expectation.
Unlike agricultural products and seafood, it seems that Vietnam electronic products have no particular strong point in world markets. In the beginning of the 1990s, most of Vietnam’s electronic products were not marketable in foreign countries. Until 1996, total export turnover of Vietnam only reached US$90 million. Such a situation continued for many years and until 2002 when the country attained US$500 million in export earnings of electronic products.
A new image of electronic products of Vietnam emerged and in 2003 exports tallied US$672 million, ranking sixth among top export product items of Vietnam. In 2004, Vietnam is set to pass the US$1 billion mark as exports in the first half were US$405 million
Nguyen Duc Thong, deputy chair of Vietnam Electronic Industries Association (VEIA) said that VEIA has paid much attention to trade promotion strategy, seeking opportunities of cooperation and trading for its member companies for years. VEIA conducted a trip to Taiwan for Vietnam electronic businesses in October 2004 to take part in exhibition on electronics in Taiwan. At the end of the year, a delegation of Taiwan electric enterprises will pay a visit to Vietnam look for opportunities of cooperation in more high-tech fields. A delegation of Vietnam electronic enterprises headed by Bui Quang Do, chair of VEIA had a survey trip to Cuba to know more about of the market at the end of November of 2004. The association will send its member companies to US for participating in an electronic exhibition in the country, which is one of biggest electronic exhibition in the world. VEIA will organise many trips to China, European countries, South Korea and some Asean countries for Vietnam electronic enterprises to seek partners and business opportunities in the months of the end of the year.
Vietnam electronic enterprises have also implemented successfully commitments on cooperation among Asean countries. Through agreement on electronic component exchange signed with Sony Vietnam Electronic Co, Sony Singapore Electronic Co under Asean Industrial Cooperation (AICO) programme, Tan Binh Electronic Joint Stock Co (VTB) has stable exports of its electronic products to countries in the region and the world, reducing cost of importing electronic components. Also, through AICO programme, over the past three years, Sony Vietnam Co obtained several million US dollars in export revenue of electronic products each year and it is expected to obtain US$4 million this the year. Each year, Sony Vietnam Co achieves total export earnings of 30–40 billion dong including exporting of electronic products out of the AICO programme, making remarkable contribution to total export turnover of electronic products of Vietnam.
So far, Vietnam electronic products has been marketable in over 30 countries over the world. With expansion of export markets and various products, Vietnam electronics will have low risk in the world market.