- Vietnam targets $145 billion in electronics exports in 2025 amid global shifts.
- Electronics sector led exports with $56.7 billion in the first eight months.
- Industry must evolve beyond assembly, strengthen R&D, and embrace digital transformation.
Vietnam is striving for a target of achieving US$145 billion in electronics exports this year. Amid persistent shifts in global geopolitics and swift technological advancements, the nation is slowly evolving from a manufacturing hub to a high-tech innovation center in the area.
Electronics exports surged last year, generating almost $126.5 billion in revenue, a rise of $17 billion from 2023. In the initial eight months of the year, computers, electronics, and components were the top export category, totaling $56.7 billion. This collection of products represented the largest portion of Vietnam's overall export revenue.
The local electronics sector is strategically situated for expansion, considering its presence in a fast-evolving and vibrant industrial area. The nation enjoys a local market exceeding 100 million individuals and direct access to the ASEAN marketplace of 600 million people.
Tran Duc Hoa, the deputy sales director at Vietnam Post and Telecommunication Industry Technology JSC (VNPT Technology), mentioned that firms were anticipated to keep investing in automation robots, as numerous businesses aim to relocate production to Vietnam.
The electronics technology sector has considerable future growth potential, even with global economic, trade, and geopolitical disruptions impacting supply chains and logistics.
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More than 90 percent of Tier 1 suppliers are foreign direct investment firms, and the local capability for research and development is still restricted, with Vietnamese businesses mainly involved in assembly.
These obstacles emphasize the necessity for Vietnam’s electronics sector to evolve from an assembly center to a comprehensive manufacturing country. This change necessitates agile, inventive collaboration between companies and educational organizations.
Analysts stated that the existing global uncertainties offer Vietnam a chance to reorganize its supply chains, speed up digital transformation, and broaden its market access via FTAs and cross-border e-commerce to boost exports.