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Vietnam can replace Taiwan

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Viet Nam may become world's chip production center, say experts​

VGP - In the first eight months of this year, phones and electronic components recorded the most prominent export turnover in Viet Nam, reaching nearly US$40 billion.​

THUY DUONG
SEPTEMBER 28, 2022 4:03 PM GMT+7
Vietnam to become the worlds chip production center - Ảnh 1.
Illustration photo
Numerous international experts believe that Viet Nam can become the world's chip manufacturing center, especially since many significant technology corporations have announced plans to boost the production of semiconductor components in the country.
Currently, Viet Nam ranks 9th globally in exporting electronic goods. It is home to Intel's largest assembly and test factory, with an investment of US$1.5 billion. This factory accounts for about 70 percent of Intel's total global output.

"The three main factors for us to manufacture in Vietnam are the highly stable socio-political environment, the Government's constant expansion of free trade agreements and an abundant labor force", said Kim Huat Ooi, Vice President of Intel Products Viet Nam Co., Ltd.
Besides Intel, many other well-known electronic corporations, such as Samsung, LG, and Apple, have factories and research and development (R&D) centers in Viet Nam. Samsung recently announced plans to produce semiconductors from July next year with an additional investment of $920 million.
In the current global context, when the U.S. has just enacted the CHIP Act worth US52 billion to support the chip manufacturing industry of this country, countries in the supply chain, like Viet Nam, can seize the opportunity to participate and develop.
According to experts, Viet Nam needs to negotiate with countries such as the U.S., Japan and the Republic of Korea to reach agreements on cooperation in supporting technology transfer.
From there, Viet Nam can move towards complete autonomy of essential stages in the semiconductor manufacturing process, opening a new page for Viet Nam's supporting technology.

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Vietnam will surpass the Philippines & Thailand in 3-5 years 

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The world's leading aircraft manufacturer Boeing has ambitions to do the same as Samsung, Intel... in Vietnam, connecting with many suppliers and supporting the development of Vietnam's aviation industry.

For the first time, the world's leading aircraft manufacturer Boeing has organized the Aerospace Industry Forum in Vietnam. This, according to Mr. Michael Nguyen, Director of Boeing Vietnam, has shown the important role of the Vietnamese market for Boeing.

The forum was organized to share a vision for enhancing Vietnam's opportunities in the fields of aerospace training, supply chain, sustainable aviation and research and development.

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Mr. Michael Nguyen speaks at the Forum
“Vietnam's aviation market is one of the fastest growing markets globally. And we want to become a lever to support Vietnam's development of the aviation industry," said Mr. Michael Nguyen in a talk with the press on the sidelines of the Forum.

According to Mr. Michael Nguyen, recent forecasts show that, within the next 30 years, Southeast Asia will need about 4,000 new aircraft to meet the travel needs of people, of which Vietnam is a country that needs a lot of new aircraft. most aircraft.

To meet market demand and become a strategic partner with Vietnam, Boeing not only cooperates with Vietnam in the field of commerce, but also expands cooperation in the field of technology, improving industry capacity. Vietnam's aerospace industry to international standards.

“We will work with authorities, businesses and universities in the aerospace industry in Vietnam to build a foundation for long-term development,” said Michael Nguyen.

Not hiding his ambition, Mr. Michael Nguyen said, Boeing wants to "follow the example" of Samsung and Intel in developing the supply chain in Vietnam.

"Every Boeing produced in the world has components from Vietnam," said Michael Nguyen, and for example a few aircraft components are manufactured in Vietnam, such as aircraft wings, aircraft doors ...

An aircraft needs more than 6 million components and so the demand is still strong. Mr. Michael Nguyen said that Boeing is willing to work with Vietnamese enterprises in providing spare parts for aircraft manufacturing.

Currently, to build the supply chain, Boeing is working with 7 suppliers in Vietnam.

“Maybe in the short term, Vietnamese companies have not been able to work directly with Boeing but have to go through Japanese and Korean companies… We also want to work directly with Vietnamese companies, however, I think, Vietnamese companies also need to go before they run,” said Mr. Michael Nguyen, adding that Boeing is ready to support so that Vietnamese companies can go fast and run fast.

Mr. Do Nhat Hoang suggested Boeing strengthen cooperation in the field of aerospace with Vietnam

Meanwhile, according to Mr. Craig Abler, Boeing's regional vice president of Asia Supply Chain, in the context of increasingly fierce global competition, broken supply chains, and increased cooperation with suppliers. Responding to Vietnam and improving the skills of workers in Vietnam's aerospace sector will help Boeing improve its competitiveness.

Accordingly, Boeing will work with Vietnamese companies to apply best practices for lean manufacturing, supplier management and other specialized training.

Regarding this issue, when speaking at the Boeing Aerospace Industry Forum in Vietnam, Mr. Do Nhat Hoang suggested that Boeing in particular and US businesses in general continue to strengthen investment cooperation. , technology transfer to Vietnam in the fields of infrastructure, production and technical services of the aviation industry, such as component production, aircraft maintenance, satellite manufacturing industry, telecommunications technology, etc. through...

Along with that, connecting Vietnamese businesses with the supply chains of large global enterprises and corporations.

“As for Boeing, we hope that the Group will research and develop a training center for pilots, experts and engineers in the field of aerospace as well as establish an aircraft manufacturing base in Vietnam.” Mr. Do Nhat Hoang said.

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  • Vietnam’s first quarter exports reached US$88.58 billion, up by 12.9 per cent from the previous year
  • Chinese state media compared the exports in the first three months of the year to China’s main export hub of Shenzhen
Vietnam’s first quarter exports reached US$88.58 billion, up by 12.9 per cent from the previous year, according to Vietnam’s Ministry of Industry and Trade. Photo: Reuters


Vietnam’s first quarter exports reached US$88.58 billion, up by 12.9 per cent from the previous year, according to Vietnam’s Ministry of Industry and Trade. Photo: Reuters

Worries that Vietnam could replace China to become the new manufacturing powerhouse are overstated, according to analysts, despite lockdowns and stringent coronavirus restrictions shifting orders to Southeast Asia.
Headlines have been stirring up controversy in the world’s second largest economy since Vietnam’s first quarter exports reached US$88.58 billion, up by 12.9 per cent from the previous year, according to Vietnam’s Ministry of Industry and Trade.

Chinese state media reports converted the value of Vietnam’s first quarter exports to 564.8 billion yuan at the time, exceeding the 407.6 billion yuan shipped from China’s main export hub of Shenzhen in the first three months of the year.

China is worried about losing its title of "world factory" amid increasing external pressures, including the US-China trade war and the war in Ukraine.

These geopolitical conflicts are forcing countries to re-evaluate the risks arising from production chains being too dependent or concentrated in certain locations.

Recognizing the inevitability of industries flocking to Southeast Asia to take advantage of low costs, many Chinese experts assert that their country should consider upgrading its industrial chain essential.

Tang Jie, an economics professor and former deputy mayor of Shenzhen, said industries would shift to Southeast Asia as the economic development gap between China and its neighbors widens.

In addition to Vietnam, Indonesia and India will also be popular destinations due to the availability of cheap labor.

"Vietnam's export industry is closely linked to the Pearl River Delta as well as to our domestic industrial and production chain, so our exports also benefit," said Mr. Peng Peng, director. executive director of the Guangdong Reform Association (an advisory organization affiliated with the provincial government), thinks that if Vietnam's exports contribute to China's industries, it is also a way to avoid trade disputes. commercial.

In addition, Mr. Peng said that comparing Vietnam with Shenzhen is somewhat lame. The population of Vietnam is about 78% of Guangdong province, much larger than Shenzhen.

Meanwhile, economist Yao Yang of Peking University said that Vietnam's increased production capacity has not yet affected China's title of "world factory", at least within 30 years. next year.

 

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Rick Cool
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congratulations 

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James avatar
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. @meleaona @mods change the topic to Vietnam can replace Taiwan & China 

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