Electronic businesses reported weak results in HCMC

Electronic businesses have been reported weak results in Ho Chi Minh City and most electronic products in the city market must be imported, according to surveys by the city Department of Information and Communications.

A computer manufacturing company in HCMC (Photo: SGGP)

The department deputy director Le Quoc Cuong on Monday said that there has no official statistics about the production reality of the electronic industry so far.

HCMC export turnover of hi-tech products including computers, electronic items and components, and digital products approximated US$2.96 billion last year, down 0.32 percent over the previous year. The city’s main export markets comprised Malaysia, China and the U.S.

However the export turnover was mainly from foreign invested companies such as Samsung, Hitachi, Intel and Sanyo.

Local brand names have yet to receive customer confidence and only few businesses have been able to make high-value products. They have also met with difficulties in accessing loans and market information to broaden their production scale, improve technologies and invest in product research.

By Ai Van – Translated by Hai Mien

Other news