Apple completes the transfer of 11 manufacturing plants to Vietnam13/09/2023
Mr. Vuong stated that in recent times, the trend of shifting global supply chains has been strong. Many major corporations have been actively seeking to expand their networks and develop production facilities in Vietnam.
A prime example of this trend is that, to date, the American company Apple has relocated 11 manufacturing plants for audiovisual devices to Vietnam. Intel Corporation has expanded its second-phase chip testing factories in Ho Chi Minh City, with a total investment of 4 billion USD. Denmark’s Lego Group has invested in constructing a factory in Binh Duong with a total capital of 1 billion USD. Samsung Group has transferred its entire phone production line to Vietnam and India. Currently, 60% of Samsung’s smartphone output for the global market is manufactured in Vietnam.
Other major corporations such as Boeing, Google, Walmart, and more are also conducting research into the investment and business environment in Vietnam.
Economic experts believe that this wave presents a significant opportunity for Vietnam to attract foreign direct investment (FDI) and promote economic growth. However, it also poses a challenge for Vietnamese businesses participating in global supply chains, as they must improve product quality and enhance the production of supporting industrial products. Currently, most Vietnamese businesses in the supply chain are involved in intermediary stages with low value-added. Many primary materials for production still need to be imported.