VOV.VN -A number of major foreign corporations, such as LG, Panasonic, and Foxconn, Apple's largest supplier, have revealed plans to expand their respective business operations in Vietnam amid the novel coronavirus (COVID-19).
VOV.VN - Vietnam is fast emerging as one of the leading destinations for foreign investment, with global giants such as Apple, Foxconn, and Panasonic all making moves to shift their production lines following the easing of the threat of the novel coronavirus (COVID-19), despite this, the nation still faces major hurdles ahead.
The expansion of Foxconn's investment in Vietnam may lead to the eventual production of iPhones in the country.
Vietnam needs stronger human resources to serve the growing integrated circuit (IC) industry to create greater investment opportunities.
Japan's Nintendo will shift some of the production of its popular Switch gaming consoles to Vietnam from China.
Once the television assembly factory of Foxconn in the northern province of Quang Ninh comes into operation, it will generate 3,000 jobs and become a basis for its continued expansion.
The US tech giant is believed to ask its major suppliers to evaluate the cost implications of shifting 15% to 30% of their production capacity from China to Southeast Asia as it prepares for a fundamental restructuring of its supply chain.
VOV.VN - The US-China trade war may bring opportunities for Vietnam, said the Foreign Policy newspaper website.
The General Statistics Office (GSO) has announced there was an excess of exports over imports of US$2.8 billion in the first 11 months of the year. However, this was overshadowed by the fact that most of the reports came from FIEs, while domestic enterprise contributions were modest.
Two models of Nokia feather phones are to be launched by the end of this year in Vietnam but the phone maker declined to elaborate on its plans to return to the country.
Robots, despite being cheaper and more productive, will not immediately shift manufacturing away from countries abundant with inexpensive and low-skilled labour, such as Vietnam.
Vietnam’s export of phones and components in the first seven months of 2013 increased 85.7 % year-on-year to US$11.55 billion.
Telephones and spare parts ranked second among Vietnam’s top ten export earners in the first eight months of this year.