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This is Why Vietnam's Smartphone Industry Soars Dramatically

This is Why Vietnam's Smartphone Industry Soars Dramatically

Samsung's mega-plants are driving the country's smartphone industry.

Smartphones accounted for 27.1 percent of Vietnam’s total exports in 2016 with a value of $34.32 billion, customs data showed. 

Phone exports are expected to rise 13.6 percent to reach $39 billion this year, the Saigon Times cited experts as saying.

Vietnam’s economic growth is being fueled by steady inflows of foreign direct investment into export-oriented sectors, especially smartphones and tablet computers, and many of them are made by Samsung Electronics.

Samsung has invested a total of $15 billion to produce phones in Vietnam, according to the Association of Foreign-Invested Enterprises, equivalent to 10 percent of the country’s total foreign investments over the past three decades.

About 130,000 workers at Samsung’s two manufacturing facilities in the southern provinces of Bac Ninh and Thai Nguyen are involved in assembling 35 percent of all Samsung's smartphones globally, including its flagship Galaxy Note 7.

Despite Samsung’s parent company scrapping the Galaxy Note 7 following a series of unresolved battery fires last year, Samsung Vietnam’s smartphone shipments in 2016 rose 8 percent from $32.7 billion in 2015, accounting for nearly a fifth of the country’s total export revenue.

The company is targeting a 7-10 percent increase in exports from Vietnam this year, said Deputy Director Bang Huyn Woo.

The General Statistics Office said exports in 2016 rose 9 percent to $176.6 billion, while imports increased 5.2 percent to $174.11 billion. Vietnam’s trade surplus was estimated at about $2.52 billion, it said.

Vietnam’s top 10 foreign exchange earners, including mobile phones, textiles, electronic and computer components, footwear and seafood products, accounted for 71.8 percent of total exports in 2016.

The government has set an economic growth rate target of 6.7 percent this year, which would be the fastest pace since 2007.

Akhyari Hananto

I began my career in the banking industry in 1997, and stayed approx 6 years in it. This industry boost his knowledge about the economic condition in Indonesia, both macro and micro, and how to More understand it. My banking career continued in Yogyakarta when I joined in a program funded by the Asian Development Bank (ADB),as the coordinator for a program aimed to help improve the quality of learning and teaching process in private universities in Yogyakarta. When the earthquake stroke Yogyakarta, I chose to join an international NGO working in the area of ?disaster response and management, which allows me to help rebuild the city, as well as other disaster-stricken area in Indonesia. I went on to become the coordinator for emergency response in the Asia Pacific region. Then I was assigned for 1 year in Cambodia, as a country coordinator mostly to deliver developmental programs (water and sanitation, education, livelihood). In 2009, he continued his career as a protocol and HR officer at the U.S. Consulate General in Surabaya, and two years later I joined the Political and Economic Section until now, where i have to deal with extensive range of people and government officials, as well as private and government institution troughout eastern Indonesia. I am the founder and Editor-in-Chief in Good News From Indonesia (GNFI), a growing and influential social media movement, and was selected as one of The Most Influential Netizen 2011 by The Marketeers magazine. I also wrote a book on "Fundamentals of Disaster Management in 2007"?, "Good News From Indonesia : Beragam Prestasi Anak Bangsa di dunia"? which was luanched in August 2013, and "Indonesia Bersyukur"? which is launched in Sept 2013. In 2014, 3 books were released in which i was one of the writer; "Indonesia Pelangi Dunia"?, "Indonesia The Untold Stories"? and "Growing! Meretas Jalan Kejayaan" I give lectures to students in lectures nationwide, sharing on full range of issues, from economy, to diplomacy Less
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