Companies operating in the electronics industry have tremendous
opportunities to carve out their own specific niche in the global
marketplace and thrive, said economists at a seminar in Ho Chi Minh City
on July 30, radio The Voice of Vietnam (VOV) reported.
“Five
years after making the decision to open its retail market in line with
World Trade Organization (WTO) commitments, the electronics industry is
finally seeing light at the end of the tunnel, said Pham Ngoc Hung, Vice
Chairman of HCM City Union of Business Associations (HUBA).
The
increased economic prospects for global integration are brought about by
free trade agreements under negotiation, most particularly the
Trans-Pacific Partnership (TPP), he shared.
Vietnamese companies,
especially electrical and electronics firms, should not take anything
for granted, however, and should make every effort to meet or exceed
international standards for technical safety, and certificate of origin
(C/O), he said.
Echoing Hung’s view, Stanley Ong, Assistant Vice
President at TUV SUD ASEAN added that many countries around the globe
are actively turning to more environmentally friendly sustainable
development, and Vietnamese companies should seize the opportunity to
play a global leadership role in the development.
“The
electronics sector should invest heavily in research and development to
ensure their products comply with the strictest of international
standards applying the latest in scientific and technological
advancements,” Ong said.
Finally yet most importantly, Vietnamese
electronics firms should fully develop a marketing strategy touting the
environmentally friendly attributes of their products and certificate
of origin (C/O), specifically targeting stimulating exports to the
demanding markets, Ong said.
Economists at the seminar were in
general agreement that such a marketing strategy would help electronics
firms increase their product value, improve competition and win consumer
trust along with instilling confidence in the quality Made-in-Vietnam
brand in the global marketplace.-VNA